Executive Watch

Perspective

If you think finding properties at reasonable cap rates is challenging, try finding good asset and portfolio managers to oversee and create value in your portfolio. We hear a lot about the consolidation of assets by REITs and investment funds into increasingly larger portfolios, and this might lead one to think of economies of scale, that fewer asset managers can effectively manage a greater number of assets. While that is true to a certain degree, asset and portfolio managers who can truly get their arms around these larger portfolios, let alone the demands of sophisticated investors, are far rarer in today's markets than the numbers of positions available to them. We have seen an up-tick in demand for senior asset managers over the past 12 months. In fact, there is a particularly acute shortage of asset managers with 10 to 15 years of experience, especially those with experience balancing the process (finance, accounting, reporting) and the transactional (development, leasing) sides of asset management, no matter what the product. Better take out your checkbook because the price-point for these top performers is on the rise.

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

URBAN LAND INSTITUTE
(WASHINGTON, DC) Director, Real Estate Industry/Finance ProgramsThe selected candidate will direct and manage research and program activities related to real estate finance/capital markets and real estate industry trends, including general oversight of the Emerging Trendspublications series.

NEWMARK KNIGHT FRANK
(NEW YORK) Lease Abstractor

The lease abstractor handles all aspects of commercial lease abstracting and administration, including initial tenant billings, commissions and security deposits. A minimum of five years of experience working with leases in a commercial real estate setting is required.

SELECTLEADERS
(FLORIDA) Investment Analyst The ideal candidate will have a proven track record of analyzing development and investment properties along with excellent communication and organizational skills. He or she must have a minimum of two to three years of real estate investment/acquisition experience.

TRAMMELL CROW CO.
(CALIFORNIA) Property Manager We are seeking a property manager in our Los Angeles class A high rise office. This position will be responsible for managing a commercial property or group of properties and fulfilling the manager's obligations under the property's management agreement.

GENERAL GROWTH PROPERTIES
(CALIFORNIA) Senior Operations Manager The senior operations manager has a thorough understanding of advanced mechanical systems, construction practices and preventive maintenance. This position requires a comprehensive understanding of operations methods and understands the need to increase profitability and will keep common area costs at or below budget.

RBS GREENWICH CAPITAL
(ILLINOIS) Associate Responsibilities include performing quantitative analysis on various types of real estate loans including fixed rate, floating rate and mezzanine; coordinating and reviewing due diligence packages and loan files; managing transactions with outside attorneys and consultants; and packaging loans for inclusion in securitizations.

SELECTLEADERS
(TEXAS) Senior Accounting Manager The Woodlands Development Co. is seeking a senior accounting manager to be located in its Houston area offices. The ideal candidate will possess a strong accounting and financial reporting background to go along with excellent oral and written communication skills.

Promotions

MOHR PARTNERS
(DALLAS) John Shaunfield inherits title of managing partner in the local office. He previously worked as managing director, overseeing account management.

VENTURE ONE
(CHICAGO) The firm taps Daniel J. Polenska as senior associate. He will be responsible for financial analysis, market research, due diligence activities, investment brokerage services and development services.

LaSALLE BANK
(CHICAGO) Trish Kelly is named executive vice president for the commercial real estate group after 10 months as head of the bank's national institutional real estate group. She's been with the ABN AMRO organization since 1982.

GHP OFFICE REALTY
(WHITE PLAINS) Michael Cinicolo rises to vice president of property management after one year with the firm. He will be responsible for managing physical plants of all GHP office buildings and oversee a staff of 28 property managers, support personnel and building engineers.

GRUBB & ELLIS CO.
(ALBUQUERQUE) Tim MacEachen comes on board as a vice president specializing in land and industrial transactions. The 27-year professional spent the past eight years with the local firm, Maestas & Ward.

New Hires

TISHMAN SPEYER
(NEW YORK) Elaine Philis joins the firm as senior director in the Equity Capital Markets Group. Philis previously worked for DRA Advisors as a director of marketing/finance.

IDI
(ATLANTA) The firm welcomes David Nix and Debbi Kvietkus. Nix will be senior acquisitions manager, and Kvietkus has joined as director of human resources. Scott Robinson is named construction manager at the firm's National Fee Development Group and is in charge of handling projects for the firm's Dividend Capital Trust account. In the Philadelphia office, Richard O'Neill is construction manager. Leslyn Ballew has been hired as real estate manager in Dallas and in charge of the Dividend Capital Trust property management account.

FREMONT
(BREA, CA) Shawn Wardlow is brought aboard as vice president for the commercial real estate division. He previously served as project executive with C.W. Driver.

VENTURE ONE
(CHICAGO) Drew Reynolds has joined the firm as associate. He will work directly with the principals, assisting with financial analysis, marketing, development, and investment brokerage services.

TCN WORLDWIDE
(PLANO, TX) The firm has announced Phillip Rosenberg as the north central regional vice president. He currently specializes in the Chicago industrial real estate marketplace.

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Tony LoPinto is the Global Sector Leader of Korn Ferry’s Real Estate Practice and founder of SelectLeaders. For the past 18 years LoPinto has been serving his clients with deep knowledge and perspective on talent needs and organizational challenges to public and private companies – knowledge gained from a 25-year career in real estate. Prior to his current position, he founded and served as chief executive officer of a boutique real estate executive search firm, where he oversaw offices in New York, Chicago, Washington, DC, San Francisco and Los Angeles. He has successfully led several high profile search engagements for chief executive officers, directors and a wide-range of executive level positions across all industries and sectors. He earned a Bachelor of Arts degree in European history from Loyola University in Chicago.