"NewQuest had been one of my best clients and I'd worked with them on refinancing their transactions for years," Joubert says. "We became great friends and this is a natural transition." He will report to NewQuest's principals--Steven Alvis, David Klein, Jay Sears and Kyle Lippman--who have built the three-year-old company's portfolio to $400 million in 100 assets, primarily shopping centers, in Texas, Missouri and New Mexico.
"This is a new position because they recognized that it's needed," Joubert explains. "They will no longer be running the company on a day-to-day basis." He adds his experience at NorthMarq, which included oversight of long-term strategic decision-making for several offices, has prepared him for the new role.
Joubert tells GlobeSt.com that he will focus company operations. "We're going to have to make sure that we have the support--legal, accounting, property management and leasing--to handle the portfolio going forward," he says. "And, we've got to continue to give the retailers the service they expect."
Joubert will help the company develop and grow its portfolio, which includes a pipeline of $150 million. Currently, NewQuest has about 50 employees. Joubert says he will add to the team as needed. "The biggest challenge will be finding the kind of folks that have gotten us where we are," he says.
Joubert's responsibilities at NorthMarq have been divided among Kerry French, John Burke and Bill Luedemann, all now named to managing director posts. "Rene is one our favorite people and he had great responsibility here," French says. "He will be a great asset for NewQuest Properties."
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