Perspective

It appears that happy days are waning, as the debt and equity markets continue to be battered by growing fears associated with the subprime loan debacle and the domino effect it is having more broadly on the market. The pain this is causing for hedge funds and banks is significant, and it is now spreading beyond the mortgage market into wider credit markets as well as the stock market, as evidenced by the freefall of most markets on Friday. This recent event suggests that the bull real estate market that we have enjoyed for years now has a rough road ahead. We have not seen a significant slowdown in hiring this summer, except on the residential and mortgage side of the business, which will surely remain anemic. However, it’s predictable that hiring managers and candidates will begin to move more cautiously until the direction of the market becomes clearer. This may be the long-awaited adjustment, but, if we are lucky, it’ll be a mild one that will clear the way for continued, albeit less frenetic, growth.

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
SELECTLEADERS VP-Sales & Marketing (STAMFORD, CT) The company seeks a VP of sales and marketing for a ground-up development of a Robert A.M. Stern-designed condominium project located in Stamford, CT. PFIZER Global Facilities Services Lead (NEW YORK CITY) The hire is responsible for developing strategy, programs, policies and budgets for a portfolio of facilities-related services, and supporting regional, site-based teams and Pfizer strategic partners with implementing initiatives. DIVIDEND CAPITAL Real Estate Due Diligence Analyst (DENVER) The analyst will perform financial, legal and tax due diligence on real estate assets, review, analyze and structure leases, assist with structuring of debt on leveraged transactions, and more. AIMCO Senior VP of Asset Management Southeast (BOCA RATON, FL) This individual will head up the Southeastern Acquisitions and Dispositions team, and will direct the identification and acquisition/ dispositions strategy of investment grade multifamily properties for the portfolio. LUCESCU REALTY Sales and Marketing Associate (NEWPORT BEACH, CA) The position offers contact with principals ranging from institutions such as REITs and pension fund advisors, and the opportunity to work on premier retail and office projects throughout the major Western US markets with a minimum value of $25 million. DEUTSCHE BANK Portfolio Director (NEW YORK CITY) Responsibilities include acting as a liaison with investors, ensuring a good working relationship with investors, managing investor information requests and requirements and more. KBS REALTY ADVISORS Acquisitions Transaction Manager (ORANGE COUNTY, CA) The hire will supervise all aspects of due diligence and closing of commercial real estate acquisition transactions, must be proficient at cash flow modeling of commercial real estate using Argus, proficient with complex joint venture, partnership, and debt structures and more. SELECTLEADERS Senior Acquisitions Associate (TARRYTOWN, NY) The ideal candidate will possess a strong financial background in real estate to go along with exceptional analytical and communication skills.
Promotions
CBRE/MELODY (BOSTON) Michael Prakken rises to manager of the office from senior director. He has been with CBRE since 2000. JONES LANG LASALLE (SAN FRANCISCO) Elizabeth Hearle and James Redmond become international directors. Hearle is managing director and division director for leasing and property management operations in California. Redmond is managing director in the corporate solutions group and global client relationship manager for Sun Microsystems. DIGITAL REALTY TRUST (SAN FRANCISCO) Jon H. Paulsen is named vice president of real estate after working as vice president of acquisitions for the Western US since 2004 when the firm launched its IPO. MORGAN/HARBOUR CONSTRUCTION (WOODRIDGE, IL) Warren Seil rises to vice president from project director. GE REAL ESTATE (HOUSTON) Chris Busta is named vice president to develop single-tenant financing business. He most recently was an associate sales representative in the Southwest. Earlier this year, he was promoted to account executive for GE’s business property division in Houston. CENCOR REALTY SERVICES/WEITZMAN GROUP (DALLAS) Weldon Simons is promoted to CFO from senior vice president of finance for the affiliate companies. 1031 EXCHANGE OPTIONS (WALNUT CREEK, CA) After two years with firm, Michael Wood is made vice president. McSHANE CORP. (PHOENIX) Alan C. Gillespie rises to senior vice president from vice president after seven years with the firm. BENTLEYFORBES GROUP (LOS ANGELES) Shane Canes, managing director of acquisitions, is added to the executive committee. DUKE REALTY CORP. (ST. LOUIS) Marking his seventh year with the firm, Whitaker Varley is named vice president from senior leasing representative for the office group. CUSHMAN & WAKEFIELD (LOS ANGELES) John Minervini rises to executive director from senior director. He also is a managing principal of C&W’s Global Life Science Practice Group. PM REALTY GROUP (DALLAS) Kurt Cherry, Bob Filbert and Lisa Johnston are named senior vice presidents. Cherry joined the company six years ago as vice president of leasing. Filbert rises from vice president after nine years with the company. Johnson joined the team in 2000 as vice president of property management. CB RICHARD ELLIS (STAMFORD, CT) Hilarie S. Siles is made vice president after 16 years with the firm.
New Hires
NNN REALTY ADVISORS (SANTA ANA, CA) Jack Van Berkel joins as senior vice president of human resources. Van Berkel was senior vice president of human resources for CB Richard Ellis since 2002. GENWORTH FINANCIAL (STAMFORD, CT) David Bengel is named head of the real estate capital markets group. He most recently ran an investment team for TIAA-CREF. MEYERS BUILDER ADVISORS (SCOTTSDALE, AZ) John Fioramonti starts as senior managing director to open the firm’s newest office. He previously was managing director for Hanley Wood’s Phoenix Market Intelligence office. APARTMENT REALTY ADVISORS (SALT LAKE CITY) David Robinson and Kevin Hart join as investment associates. PARK HILL REAL ESTATE GROUP (NEW YORK CITY) Michael Stark starts as senior managing principal to co-lead the real estate placement group with founders Chuck Purse and Frank Schmitz. Stark previously was director and founding member of the real estate private fund group for Credit Suisse. BMC CAPITAL (SALT LAKE CITY and ATLANTA) Shawn Moss will lead the Salt Lake City office while Sheree Berk and Keelee Peterson are opening an Atlanta office for the firm. Moss previously worked for National Apartment Finance in Utah. Berk and Peterson had been with Southeastern Mortgage Partners. ESUITES HOTELS (TAMPA, FL) Ian T. Rogers begins as senior vice president and CFO. Rogers previously was CFO for Tauck World Discovery of Norwalk, CT. FIRST INDUSTRIAL REALTY TRUST (ATLANTA) Kent Mason assumes a regional director’s position, coming on board from Ashley Capital, where he was vice president and manager of the Southeast regional office. NEWMARK MERRILL COS. (WOODLAND HILLS, CA) Kevin P. Cavanaugh is made COO and will assist with oversight for the firm’s five divisions. He most recently was managing director of Douglas Wilson Cos. SHELDON GROSS REALTY (WEST ORANGE, NJ) Robert Kelley begins as corporate real estate representative after working as an international and business consultant. In addition, he currently teaches at the Baruch College of the City University of New York. MASSEY KNAKAL REALTY SERVICES (QUEENS, NY) Sean Freeman joins the Queens office as an associate. He most recently was with Re/MAX Premier in Albany. VENTURE ONE REAL ESTATE (CHICAGO) Michelle I. Roth starts as controller, bringing more than 20 years of accounting experience to the firm. EQUASTONE (HOUSTON) Michael Ecklund and Chris Calato begin as vice presidents of acquisitions. Ecklund will source investment opportunities in Colorado and all states east of Texas while Calato gets states west of Texas, excluding California, Oregon, Washington and Colorado. Ecklund most recently was with the Houston-based firms of Lionstone Group and Hines. Calato also had been with the Lionstone Group. NEWMARK KNIGHT FRANK (CHICAGO) Richard L. Klein comes on board as executive managing director. He has spent the past 20 years at his own firm, Corporate Realty Consultants. JJ HARE ASSOCIATES (TUSTIN, CA) Amy Wirtjes begins as project coordinator to assist project managers on permit processing for residential and commercial developments in Orange County. Prior to joining the firm, she owned Speedy Permits in Laguna Niguel, CA. KEYSTONE PACIFIC PROPERTY MANAGEMENT (TEMECULA, CA) Lorrie Jaraba is made community association manager to oversee properties throughout the city. LIBERTY HARBOR LLC (BRUNSWICK, GA) Kevin Thompson assumes a construction manager’s role for the new mixed-use waterfront development. He most recently was superintendent for Pulte Homes. DUKE REALTY CORP. (ROSEMONT, IL) Christopher Murphy starts as an industrial leasing representative. He previously was a consultant in the Chicago office of Smart Business Advisory and Consulting LLC. CRESA PARTNERS (SAN JOSE, CA) Richard L. Reposar and Michael L. Charney join as tenant representatives. Reposar is made senior manager of corporate services. He previously worked for Corporate Facility Services Inc. Charney is accorded a senior project manager’s title. His previous work experience includes XL Construction Corp. and freelance architectural services and contracting.

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