Perspective There has been a lot of talk recently about the public-to-private REIT trend. The latest news, of course, was Glenborough Realty Trust going to Morgan Stanley later this year, and more REITs will likely say goodbye to Wall Street as this current cycle plays out. There is the obvious chatter that the sales were precipitated by the executive teams’ frustration with public-market scrutiny and the time it takes to run a public company, which often has little to do with the real estate business. In my view, these deals are all about economics, not investor relations. To reinforce my point, an interesting by-product of these transactions is the freeing-up of senior talent with valuable experience running a real estate company and dealing with the unique challenges of being public. REIT teams have gone though an evolution, from private entrepreneurs to more management-intensive, public-focused organizations. Along the way, the executive teams have gained the experience, skills and talent necessary to succeed in the public arena. Instead of fleeing back into the private side, these individuals are a hot commodity who are being–or will ultimately be–lured back into the public domain.
Tony 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 | EQUITY OFFICE PROPERTIES (ILLINOIS) Sr. Financial Analyst The senior financial analyst is primarily responsible for completing acquisition, disposition and due diligence work as requested on all office buildings, parking garages and developments. A bachelor’s degree in accounting or finance and two-plus years of financial analysis experience is required. GROSVERNOR (WASHINGTON, DC) Senior Asset Manager Our senior asset managers are field professionals responsible for a group of properties and for supervising the activities of the property managers handling day-to-day operations of those properties. They analyze the property income, expenses, and value on a property-by-property basis. CB RICHARD ELLIS (TEXAS) Director, Asset Services The director is responsible for the business unit’s financial performance in market or region within market. He or she will provide recommendations for tactical and strategic planning, as well as market analysis and asset positioning consultation. The director will also assist in acquisition underwriting and due diligence. THE PNL COS. (TEXAS) Real Estate Venture Capital Position – Originations Group The PNL Cos. is seeking to expand its acquisitions/originations team to help deploy capital from its new investment fund. The fund provides the company with the ability to acquire and or originate approximately $400 million of loans and properties over the next couple of years. | TISHMAN SPEYER PROPERTIES (WASHINGTON, DC) Associate – Acquisitions and Development Tishman Speyer is currently seeking an associate who will be primarily responsible for supporting acquisitions and development for the Washington, DC region. The associate will be working on acquisitions, dispositions, and ground-up development of commercial properties. THE URBAN LAND INSTITUTE (MASSACHUSETTS) Executive Director – Boston District Council The executive director will oversee the day-to-day operations of the District Council and be responsible for implementation of the District Council’s plans for growth and advancement in membership, fundraising, programming and community outreach. CARRAMERICA (CALIFORNIA) Investment Associate, Commercial Real Estate We have an opening for an investment associate in our corporate headquarters office located in San Mateo, CA. The ideal candidate will have three to four years of related experience in California as an investment associate in an asset management environment, including transactional experience. | |
| Promotions H.G. FENTON CO. (SAN DIEGO) Geoffrey Swortwood rises to vice president of commercial building development, assuming oversight for industrial strategies and implementation. He was most recently was director of commercial development. THE GEENTY GROUP (BRANFORD, CT) Kristin T. Geenty replaces Kevin C. Geenty as president for the Geenty Group and its parent, Geenty Inc. In a second executive move, Arthur J. Randolph rises to vice president. BEHRINGER HARVARD (DALLAS) Seven promotions are accorded to key executives for the investment group. Jon Dooley and M. Jason Mattox are made executive vice presidents while James D. Fant and Samuel A. Gillespie climb to senior vice presidents’ rungs. Terry Kennon was named senior vice president of asset management. Vice president titles go to Michael Cohen and Mark Flynt. NEW BOSTON FUND(BOSTON) Michael J. Buckley is named capital markets director after three years as senior vice president of finance. His duties will include working with the Urban Strategy America Fund. SCI REAL ESTATE INVESTMENTS (LOS ANGELES) Andrew Van Tuyle rises to COO from chief investment officer. The 10-year financial veteran joined the firm in 2004. MURPHY CO. (ST. LOUIS) Robert L. Koester climbs to chief financial officer after three years as controller and treasurer. COLDWELL BANKER COMMERCIAL CRA(ST. LOUIS) Paul Willenberg becomes director of operations and facilities services to oversee operations and renovations for more than three million sf of office, retail and industrial product. | New Hires ALTER GROUP (CHICAGO) La Dawn Taylor is named business development director of construction services. Taylor previously was vice president of business development for Interior Space International. TRAMMELL CROW CO. (HOUSTON) The firm has brought aboard Bonnie Kelley as senior vice president, office leasing, and Jeff Williford as senior vice president, property management. Kelley previously worked for Songy Partners properties in Texas, Louisiana and Tennessee. Williford served as president of Williford Property Group for the last seven years. In Tampa, Brian Devlin joins the local operation as vice president of real estate services. Devlin will provide landlord-representation services of high-end office space. WOOLBRIGHT DEVELOPMENT(BOCA RATON, FL) James F. Hanson and Chuck Coster join the firm’s operations team as senior executives. Hanson, who will be based in Orlando, was previously a project manager with John T. Callahan & Sons. Coster was a commercial associate with Barnett Commercial Realty. GRANITE PROPERTIES (PLANO, TX) Jeffrey R. Jackson has joined as industrial leasing manager. He previously worked with The Industrial Group Real Estate Services, Inc. NAI JAMES E. HANSON (HACKENSACK, NJ) W. Joshua Levering joins the firm as senior vice president. He will oversee day-to-day operations as well as managing sales and brokerage activities. CORENET GLOBAL(IRVINE, CA) Dennis Potts, Debra Okamoto, John Clement and Melinda Hall-Wood have become directors for 2006-7. Potts currently serves as principal of design and construction consulting services for the Staubach Co. Okamoto is a chairperson, real estate and property management of Toyota Motor Sales. Clement is treasurer of Venture Point and Hall-Wood is secretary of LNR Property Corp. |
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