‘A Glimmer’

I had an opportunity to meet with the president of one of the multi family REITs yesterday and walked away feeling pretty good after learning that the company is making acquisitions and gearing-up for renewed investment activity over the next 12 months. They are beginning to see institutional investors selling apartment assets, typically, selecting some of the best in their portfolio to achieve the most favorable pricing. Their long view is, at today’s pricing, for A-Products, with strong demographics long term, they will do very well. Good news indeed–I haven’t felt as good leaving a meeting in a long time. This was on the heels of a Webinar that was produced last week by Globest.com and SelectLeaders, “Job Opportunities in a Turbulent Market”. The discussion highlighted that, while activity is slow on the hiring front, there are signs that the market is beginning to stabilize and hiring activity should start to recover in 2010. Most investors have made their cuts this time, nicking the bone, and once real estate trades start to happen and the market starts to clear, I expect that we’ll see recruiting activity sooner than many of the skeptics expect. To listen to a replay of the webinar, “Job Opportunities in a Turbulent Market,” please click here.

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
VOIT REAL ESTATE SERVICES Asset Manager (NEWPORT BEACH, CA) The asset manager will be responsible for managing a portfolio of industrial, office, retail and other commercial properties and will develop strategies that create value for each asset. SELECTLEADERS Chief Financial Officer (RENO, NV) The CFO will be responsible for all investment strategy, finance, capital markets institutional and investor reporting activities. HOLLIDAY FENOGLIO FOWLER, L.P. Freddie Mac–Closer (WASHINGTON, DC) The closer will review due diligence underwriting including third party reports and legal issues, for Freddie Mac loans, ensure all Freddie Mac loans comply with Freddie Mac requirements, and assist producers and real estate analysts with any questions regarding Freddie Mac underwriting and closing requirements. ARBOR COMMERCIAL MORTGAGE, LLC Property Management Coordinator (UNIONDALE, NY) The coordinator will be responsible for working closely with our finance department to prepare weekly, monthly and annual reports for the property owners, coordination of extensive travel schedules, updating new operations manual and preparation of RFP’s. DRA ADVISORS LLC Asset Manager (NEW YORK CITY) The asset manager will carry out strategic goals at the property level through tracking financial performance, analyzing property level data and implementation/oversight of capital improvement. JPMORGAN PRIVATE EQUITY FUND SERVICES Real Estate Funds Manager, Private Equity Fund Services (NEW YORK CITY) The manager will define a set of real estate open-ended fund services for real estate investment clients, build, lead and motivate a team to service client’s real estate open-ended fund investment requirements, liaison with clients and client advisers including CFOs, controllers, property managers, asset managers, valuers and legal council. BH PROPERTIES Loan Acquisition & Property Acquisition Specialist (LOS ANGELES) The acquisition specialist will be responsible for loan and credit underwriting, negotiating bank notes, purchase contracts, handling related due diligence, contract review, mortgage documents review and the overall closing process. PROPERTY ALLOCATION CONSULTANTS LLC Commercial Real Estate Cost Segregation Consultant (HUNTINGTON, NY) The consultant will diversify client services, create an additional revenue opportunity, revisit existing clients and attract new clients.
Promotions No more than one submission per company will be considered per week. Submissions with multiple names will be capped at three for coverage in Executive Watch.
GRUBB & ELLIS CO. (WASHINGTON, DC) Grubb & Ellis Co. is promoting Warren Amason, Eric Berkman, Steven Gichner and Bruce McNair to executive vice president from senior vice president. THE SOLOMON ORGANIZATION (SUMMIT, NJ) The Solomon Organization today announced the promotion of Adam Solomon to Associate Director.
New Hires No more than one submission per company will be considered per week. Submissions with multiple names will be capped at three for coverage in Executive Watch.
DUNE REAL ESTATE PARTNERS (NEW YORK CITY) David Oliner is joining the firm as a partner in Dune Real Estate Partners. Oliner will also be a managing director and principal of Dune and a member of the Dune Real Estate Investment Committee. Oliner joins Dune from Morgan Stanley, where he was a managing director and senior commercial mortgage trader for large loans and subordinate products. MORGAN KEEGAN & COMPANY, INC. (MEMPHIS) Morgan Keegan & Company, Inc. is hiring John P. Ockerbloom as managing director and head of its Real Estate & Lodging Investment Banking group. Prior to joining Morgan Keegan, Ockerbloom was a managing director in the real estate investment banking groups of both Wachovia Securities and Banc of America Securities. CLIPPER EQUITY (NEW YORK CITY) Clipper Equity, owner of Flatbush Gardens, is hiring Rick Miaw and Rachel Uziel to be the new leasing directors for the 59 building, 30 acre affordable housing community in East Flatbush, Brooklyn.

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