Perspective

The expanding economy and unprecedented capital flows into real estate have produced an extraordinary demand for talent at all levels and across all sectors and functions. But nothing rivals an increasingly frenzied demand for development professionals. REITs, private companies and funds are all in the hunt to hire seasoned development talent across the spectrum from the most senior "rainmakers" to proven project level developers. As a result, multiple searches are going on across most major markets. This trend is highlighted by our own search practice. Over half of current search assignments are developer related, and job postings as well are heavily biased to development positions. This demand has produced a dearth of talent and a corresponding stress on compensation levels, both on the cash side as well as the size of the ownership participation. Okay, now let's guess what impact all this development will have on market conditions… Buckle your seatbelts--we might be in for a bumpy ride.

Anthony J. LoPinto is CEO of Equinox Partners, an executive search firm specializing in the real estate industry, and parent company of SelectLeaders

The views expressed in this article are the author's own.

Job Opportunities

ERNST AND YOUNG
(NEW YORK) Senior Associate Specific responsibilities will include financial modeling, market information research, analysis of real estate documents--including site/building plans, leases, appraisals and lending documents--performing market studies, and report writing.

CIM GROUP INC.
(CALIFORNIA) Vice President, Investments and Development The vice president, investment and development will direct the development of assigned projects including: obtaining project entitlements; overseeing the preparation of project budgets; selecting and directing project teams including the design and engineering; and directing construction management and leasing teams.

CB RICHARD ELLIS
(CONNECTICUT) Real Estate Manager This position requires a bachelor's degree or equivalent experience. He or she must have two to three years of professional property management experience with strong written and verbal communication skills and an excellent customer service approach to tenants and property owners.

SELECTLEADERS
(SOUTHEASTERN US) President Our client, a renowned real estate company in the southeastern US, seeks an exceptional individual to run its commercial division. The ideal candidate will have very strong executive management and leadership skills to go along with a proven and verifiable track record in growing and managing a multi-sector development and investment program.

AVALONBAY COMMUNITIES
(ILLINOIS) Regional Operations Director This position is responsible for directing and coordinating activities of AvalonBay's Chicago Portfolio to ensure that the company's financial, business and customer service objectives are achieved. The portfolio currently includes a total of six properties and approximately 1,696 apartment homes including two renovations.

SELECTLEADERS
(WISCONSIN) Development Project Manager The successful candidate will carry out strategic goals at the property level through implementation and completion of capital improvements, life cycle analysis, maintenance, as well as the completion of renovation and expansion projects for our client, Great Wolf Resorts Inc.

EQUINOX PARTNERS
(OHIO) Chief Operating Officer This individual will be based in the Cincinnati headquarters and will report to the CEO and chairman. The chief operating officer will have responsibility for the bottom-line profitability of the company and for providing the leadership and entrepreneurial direction necessary for the future growth of the business.

Promotions

DPR CONSTRUCTION
(AUSTIN) The firm promotes Leah Payne to project manager and hires Scott Lewis at the same level. Payne came on board in 2001 as a project engineer. Lewis previously worked for Page Southerland Page and Constructors & Associates.

STUDLEY
(NEW YORK CITY, ATLANTA) John Johnson and Clark Dean are named corporate managing directors in the Midtown and Atlanta offices, respectively. Also, Midtown's Michael Leff and Atlanta's Michael Broome are accorded managing director titles.

TRAMMELL CROW CO.
(BOSTON) Tom Kent rises to senior vice president while Jordan Berns, David Boyle and Ted Lyon are made vice presidents. Rob Burnieka assumes a senior associate's role and Wyndsor DePetro becomes senior associate and analyst.

CUSHMAN & WAKEFIELD OF TEXAS
(HOUSTON) The local office expands duties of Reginald D. Rogers to include senior account manager and hires Graham D. Horton for the industrial division. Rogers will continue in transaction management and day-to-day administration of the corporate account for Service Corp. International. Horton will focus on user and tenant representation.

REGENCY CENTERS CORP.
(JACKSONVILLE, FL) Whitney Kantor becomes vice president of marketing and research, with direct oversight for teams in Los Angeles, Dallas and the headquarters office.

ARLEDGE PARTNERS REAL ESTATE GROUP
(DALLAS) Jeff Pappas is named executive vice president after six years as a vice president.

New Hires

WASHINGTON MUTUAL BANK
(IRVINE, CA) Randy Hall joins as vice president in the bank's commercial real estate lending group. The 24-year real estate veteran most recently was with Union Bank of California and a partner with Buchanan Street Partners

WCB PROPERTIES
(NEWPORT BEACH, CA) Christopher B. Mahon steps in as vice president of asset management in California. He spent the past seven years as senior vice president and Southern California regional director for Dallas-based Prentiss Properties' Carlsbad office.

CHAPMAN & CUTLER
(SALT LAKE CITY) The Chicago-based firm adds 10 attorneys, previously with Mabey & Murray LC, in its Salt Lake City office. The group, led by environmental lawyer Kevin R. Murray, includes five partners and five associates. Stephen Tumblin will lead the incoming corporate group while David M. Connors will be charged with overseeing the litigation team. The incoming attorneys include partners James K. Tracy and Bret F. Randall and associates Collin McMullin, Adelaide Maudsley, Patrick Malone, Jennifer Brown and upcoming graduate from Brigham Young University, Nicole Squires.

OPUS WEST CORP.
(IRVINE, CA) Beverly Metz is named director of retail development for Southern California and Michael S. Dorris comes aboard as manager of real estate in the San Diego region. Metz previously was senior real estate manager for Home Depot Inc. in Orange, CA. Dorris previously was with Trammell Crow Co. in San Diego.

BURNHAM REAL ESTATE/ONCOR INTERNATIONAL
(SAN DIEGO) Marc Posthumus and Scott Henderson begin with the firm as associate vice presidents, focusing on sales and leasing of office and industrial properties in central San Diego County. The team most recently was with Grubb & Ellis/BRE Commercial.

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