Perspective

A recent article in The Economist magazine, “The Search for Talent, Why It Is Getting Harder to Find,” presented many insights for this industry. The article explored the growing, global shortage of talent. Even in India, where, supposedly, there is a sea of smart, hungry and reasonably priced talent, severe skill shortages are emerging, and Indian companies are importing talent to fill the gap. The article also underscored the shift in the balance of power from the companies to workers. It reminded me of the situation in our own industry. Real estate suffers from acute shortages of talent at all levels, and the problem is aggravated by ultra-heavy demand, especially for senior executives and mid-level professionals. Real estate companies, regardless of sector or product type, need to focus aggressively on the retention of talent, because if you lose a key player, it will cost you not only in dollars, but, more important, in terms of the productivity downtime during the search for a replacement.

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

BANK OF AMERICA
 (DALLAS) Multi-Family Real Estate Development ManagerThe development manager will identify and assess potential acquisition and development opportunities; create and execute viable action plans, conduct financial modeling, market research, project design, and provide leadership to the project team for each development.

PRUDENTIAL
 (DALLAS) Senior Investor Reporting Associate The associate’s duties will include providing information/reports on a weekly/monthly/quarterly basis in regard to Prudential Asset Resources’ FNMA, FHA or CMBS portfolios; analyzing commercial loan financial information so trends and information can be articulated to management and investors; and working with the servicing teams to resolve reporting issues.

SELECT LEADERS
 (NEW YORK) Research Department Associate Responsibilities include adding and updating records on the company and candidate database; executing internal database searches; and updating company and candidate records with our internal coding system.

KEYBANK REAL ESTATE CAPITAL
 (KANSAS CITY, MO) Asset Manager-Key Housing Management The position will have overall asset management responsibility for a portfolio of Section 42 tax credit properties and perform due diligence on proposed property management companies and on-site staff and assist in evaluation of market area prior to investment.

MCCORMICK & SCHMICK’S
 (EAST COAST) Director of Real Estate The real estate representative will manage growth on the east coast by analyzing markets using demographic models, qualifying suitable development sites, working with local real estate brokers and developers, and negotiating lease terms meeting company mandates.

WESCO COS.
 (TORRANCE, CA) VP-Land Acquisition The company is seeking a seasoned vice president of land acquisitions to acquire and entitle land for future residential development in Southern California. Projects will include attached and detached homes, condominiums and apartments, located in both infill and suburban locations.

HANOVER FINANCIAL CO.
 (LOS ANGELES/ORANGE COUNTY, CA) Financial Analyst/Associate Responsibilities will include performing financial analysis of prospective investment opportunities, conducting market surveys and actively participating in the acquisition effort to select target investment strategies, markets and opportunities.

Promotions

CB RICHARD ELLIS
(CHICAGO) Mark Pasquella rises to senior vice president from first vice president. He started with the firm in 1988 as regional investment analyst for the North Central region.

O'CONNOR & ASSOCIATES
(HOUSTON) Larry Brewster rises to managing director of the federal tax reduction division after 2.5 years with the firm.

INTERSTATE HOTELS & RESORTS
(ARLINGTON, VA) Joseph A. Klam is made executive vice president for hotel finance. He previously was senior vice president.

O&S HOLDINGS
(SANTA MONICA, CA) Doug Badia is promoted to executive vice president from senior vice president of asset management.

BEHRINGER HARVARD
(DALLAS) Allen Bourne and Rick Frank earn vice president titles. Bourne joined the firm two years ago as marketing director. Frank has come on board for acquisitions and asset management. He previously was vice president of the hospitality group for AEW Capital Management LP.

SPERRY VAN NESS
(IRVINE, CA) Shane Shafer is accorded a vice president's title after earning a slot on the firm's Top 20 national brokers' list. Also in the Southern California office, the firm hires 30-year veteran Fred A. Sheriff as a senior vice president and regional manager.

 New Hires

NEW ENGLAND DEVELOPMENT
(NEWTON, MA) Allen Kaplan returns to the firm after seven years as a member of the senior management and leasing team. He will focus on retail and mixed-use projects. The 25-year professional has come over from the ranks of Simon Property Group.

JONES LANG LASALLE
(BOSTON) Keith Gurtler starts as senior vice president, holding onto a decade-long territory, Route 128, that he worked for Trammell Crow Co.

TRANSWESTERN COMMERCIAL SERVICES
(AUSTIN) Robert Gaston joins as senior vice president of corporate development. He most recently was general manager for Equity Office Properties Trust.

OPUS WEST CORP.
(DALLAS) Geoff Meyer is named director of real estate development in Texas. He previously was leasing director for CarrAmerica Realty Corp.'s Dallas office.

GRUBB & ELLIS
(DALLAS) Michael J. Hueppeler joins as vice president in the tenant representation group. He most recently was senior vice president for GLV Realty Advisors.

LEGGAT McCALL PROPERTIES
(BOSTON) Robert Palumbo comes on board as vice president and senior manager. He previously was president of development for Beacon Capital Partners.

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Anthony J. LoPinto

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.