| UK Update - 07.20.2010 I am on the beat in London this week and thought I would update you on the mood of the market “across the pond.” In sharp contrast to an emerging, albeit slow, recovery in the US, the UK real estate community is bracing for a double dip. This is not 2009, but most real estate types are very cautious about predicting that the worst is over. Also, on the real estate investment banking front, activity in the equity capital markets has slowed appreciably, signaling that the public exit strategies that were being pursued by many private owners will be on the shelf until the markets come back to life. I should note that this is not too different from the US scene where a number of IPO’s have been withdrawn recently due to pricing. The translation of this in England, on the hiring front, is as expected: little activity and not much hope for recovery for the balance of the year. Essentially, my read is that the UK is 12 months behind the US in the turnaround. Another tea, please.
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. |
| AMERICAN INSTITUTE OF ARCHITECTS Executive Vice President/CEO (WASHINGTON, DC) The EVP will execute the AIA’s strategic plan; develop and implement annual operating plans that align with the strategic plan; build and maintain collaborative relationships with related industries, constituencies, organizations and government; and facilitate opportunities for AIA leaders to act as the voice of architects in the profession; among other duties. JONES LANG LASALLE Transaction Manager (GLENDALE, CA) The manager will perform more complex financial analyses; handle small transactions with limited supervision; manage brokers for selected lease transactions as required ; tenant and rent income management; lead transaction tracking and reporting for clients; and lead preparation of annual reports and other presentations; among other duties. SELECTLEADERS Construction Project Manager (STAMFORD, CT) The manager will negotiate with various subcontractors, vendors, supplies, and the like for project work and writes all purchase orders for tenant improvements and capital expenditure projects; review construction plans, submittals and drawings; and negotiate change orders and prepares necessary documentation; among other duties. LUCESCU REALTY VP – Finance and Capital Markets (NEWPORT BEACH, CA) The VP will act as a primary point of contact and relationship manager; make sales presentations and develop customized proposals to obtain engagements; establish a pipeline of transaction opportunities for Lucescu Realty and source advisory service engagements; and develop third party opportunities for debt and financing; among other duties. MAC-GRAY CORP. Vice President National Accounts (WALTHAM, MA) The VP will generate leads, perform sales, meet the challenge of adding new accounts and will have a passion for excellence in customer service; among other duties. RUSSELL INVESTMENTS Managing Director – Private Real Estate (TACOMA, WA) The managing director will be responsible for the investment activities of Russell’s $2-billion-plus discretionary real estate multi-manager investment platform operating globally; will provide real estate investment strategy and manager research to support the Global Consulting and Advisory Services of Russell; among other duties. NEW YORK LIFE INVESTMENTS Vice President – Distressed Debt (NEW YORK CITY) The VP will be responsible for implementing best practices for pro-active loan management, including all aspects of document enforcement, workout negotiations, and receivership and foreclosure actions; among other duties. MADISON CAPITAL MANAGEMENT Senior Investment Analyst – Real Estate (GREENWOOD VILLAGE, CO) The analyst will be responsible for underwriting a diversified portfolio of real estate investments, including asset types such as hotel, office, industrial, multifamily, retail, healthcare, self-storage and other specialty-use property types across the US; monitoring the overall operational and financial performance of real estate and real estate related investments and compliance with joint venture, asset management, leasing, construction management and loan agreements; among other duties. |
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