Homebuilding Returns - 06.22.2010
The last column I expected to write for quite a while was to comment on the recovery of homebuilders and renewed activity in Sunbelt markets, especially Florida. Yet in the online version of the Wall Street Journal this morning there was an article reporting that homebuilders are gobbling-up cheap land in central Florida and turning on the spigot, building new product. Not long ago the expectation was that new home construction would be years, if not a decade away. But cheap land and a recovering economy is fueling a new round of homebuilding. The top 10 homebuilders are all in Florida and in other Sunbelt locations gearing-up operations. For example, Meritage Homes Corp. has 13 actively selling communities in Florida, with similar plans for Denver, Las Vegas, Arizona and parts of California: to buy land at rock-bottom prices and begin building. Every real estate depression that I have experienced produces a widely held view that recovery is more distant than ultimately is the case. I suggest that at least on the residential front this is the case, and the rebound is already in progress, albeit slowly.

Tony LoPinto is a senior client partner and head of Korn//Ferry International’s Real Estate Practice and founder of SelectLeaders. The views expressed in this article are the author’s own.

COSTAR GROUP
Product Marketing Manager
(WASHINGTON, DC) The marketing manager will be the customer advocate for customer and prospect segments that rely on analytics solutions; will be responsible for the outbound marketing activities for these solutions; and will work with creative staff to develop the positioning and craft unique messaging that will build brand awareness and drive demand in the marketplace; among other duties.

CANTOR FITZGERALD
Real Estate Financial Analyst
(NEW YORK CITY) The analyst will provide analytical support to both groups by building financial models, analyzing data, and putting pitch books together; among other duties.

SELECTLEADERS
Associate/Analyst
(LOS ANGELES) The associate/analyst will perform financial analyses and market research, prepare investment or financing memoranda, assist in the marketing of equity and debt transactions, manage the due diligence process and evaluate potential investment and financing proposals. He/she will work with directly with a partner of the firm and build an extensive network of client and lending relationships.

CUSHMAN & WAKEFIELD, INC.
Senior Consulting, Global Consulting
(WASHINGTON, DC) The position will develop and deliver sound consultative approaches in response to clients' real estate challenges; create project work plans and budgets, create proposal and project strategy, conduct and oversee work products of consultants and analysts, and will partner with senior management to present findings and recommendations to clients; among other duties.

FRAUENSHUH
Vice President Design and Construction
(MINNEAPOLIS) The VP will lead and supervise the development process of constructing new medical facilities ensuring the projects are completed on time and on budget. The process includes the coordination of governmental agency approvals, design, construction and tenant/client interface. This position will establish, maintain and propagate strong relationships with existing and new clients.

GOOGLE
Facilities Manager – Gurgaon
(GURGAON, INDIA) The facilities manager will manage all aspects of Integrated Facilities Management to include office management, utilities management, transport management, hospitality management, food services management and real estate & administration of lease agreements; among other duties.

IDI
Real Estate Marketing and Communications Manager
(ATLANTA) The manager will oversee all tactical day-to-day project implementation assigned to the marketing and communications team including but not limited to the overall content of the website, intranet, social media programs, and various other presentation materials and print/electronic collateral; and serve as a proactive marketing liaison for corporate business units and other departments, eight market offices and outside vendor resource; among other duties.

SELECTLEADERS
Regional Property Manager
(HOUSTON) The manager will maintain exemplary relations with all tenants, clients, staff, vendors, and management, utilizing effective customer service and communication skills; prepare annual operating budget(s) and monthly variance reports, as well as monthly financial reports; and perform routine inspections of properties and prepare written reports and presentations; among other duties.

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.

MARCUS & MILLICHAP CAPITAL CORP.
(LOS ANGELES) Marcus & Millichap is promoting Adam J. Petriella and Jerry M. Wise to the positions of first vice president capital markets.

OPUS NORTH CORP.
(CHICAGO) Opus North is promoting Matt Rauenhorst to director of retail development and leasing.

KIMCO REALTY CORP.
(NEW HYDE PARK, NY) Kimco Realty is promoting Glenn G. Cohen to executive vice president and chief financial officer.

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.

COLLIERS INTERNATIONAL
(NEW YORK CITY) Colliers International is hiring Kevin J. Brennan as valuation services director.

FLAGLER REAL ESTATE SERVICES, LLC
(CORAL GABLES, FL) Flagler is hiring Greg Martin as a broker for Broward County.

MERIDIAN CAPITAL GROUP, LLC
(NEW YORK CITY) Meridian Capital Group is hiring Chad Johnson as a managing director in its commercial originations group.

GRUBB & ELLIS CO.
(SANTA ANA, CA) Grubb & Ellis is hiring Randy Buddemeyer and Tim Rivers as executive managing director, responsible for the Florida and Carolinas region, and senior vice president, director, management services, respectively.

L&L HOLDING COMPANY, LLC
(NEW YORK CITY) L&L Holding is hiring Keith R. Purcell as a vice president in its asset management division. Purcell was previously a vice president of GIC Real Estate, Inc.

REGENCY CENTERS
(JACKSONVILL, FL) Regency Centers is hiring Barbara Christie Johnston as SVP, general counsel. Recently, Johnston served as partner with the national firm of McGuireWoods LLP in its Jacksonville, FL office.

DIVERSIFIED PROJECT MANAGEMENT
(NEWTON, MA) Diversified Project Management is hiring Callie O’Brien as Assistant project manager.