Hot Properties
In October 2007, Archstone, one of the largest investors, developers and operators of apartment communities in the United States, was privatized in a $22.2 billion acquisition by Tishman Speyer and Lehman Brothers Holdings in alliance with a number of other investment banks. It was among the biggest deals, and was incredibly well timed as the market ground to a halt just 10 months later. Archstone is back in the news as Sam Zell and the estate of Lehman Brothers Holdings are slugging it out for a 26.5% interest in the company, which is currently controlled by Bank of America and Barclays. Lehman favors an IPO to exit the investment in Archstone; the banks are fixated on a sale to capitalize on the hot-again multi-family market. I reflected over the weekend about the 2,700 employees at Archstone who are likely worrying about how they will be impacted by the high-stakes game that is being played out in a very public forum. One wonders how much the bidders are considering the human capital of the company - the executives and key professional of Archstone will be hot properties for competitor companies. Good news for recruiters, bad news for Archstone.

Tony LoPinto is the Global Sector Leader of Korn/Ferry International's Real Estate Practice and founder of SelectLeaders. The views expressed in this article are the author’s own.

SELECTLEADERS
Transaction Coordinator
(NORTH NJ SHORE) The client is a diverse private equity real estate investment and management firm specializing in acquisition of multi-family and healthcare properties. The successful candidate will function as an integral part of the Investment team to maximize financial benefits while minimizing risks.

JONES LANG LASALLE
Property Manager
(MECHANICSBURG, PA) The manager functions as the professional-in-charge of the specific asset(s) under management. As the lead professional, the position is responsible for all aspects of client and tenant satisfaction. Of specific importance is achieving stated financial results (NOI and cashflow) and operating objectives.

ESSEX PROPERTY TRUST
Asset Management Analyst
(PALO ALTO, CA) The analyst will be an integral member of the asset management team with significant accountability for fundamental research and financial modeling. Specific responsibilities will include: research and present market and economic fundamentals and emerging trends relative to firm's property sectors and projects.

EQUITY OFFICE PROPERTIES
Vice President of Investments & Asset Management
(CHICAGO) The vice president - investments asset management is responsible for leading all aspects of single-asset acquisitions dispositions for the Equity Office portfolio as well as supporting with portfolio-level transactions.

AMERICAN EXPRESS
Projects Control Engineer
(NEW YORK CITY) S/he is responsible for overseeing the creation and implementation of a project based controls program that will be used for reporting, executing and supporting the global delivery of capital projects.

COMMUNITY PRESERVATION AND DEVELOPMENT CORP.
Vice President and Director of Real Estate
(WASHINGTON, DC) The vice president and director of real estate reports to the senior vice president for real estate and specializes in acquiring, rehabilitating, and developing multi-family housing with an approach to preserving and developing long-term sustainable affordable housing.

CORNERSTONE REAL ESTATE ADVISERS
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(HARTFORD, CT) The manager will respond to consultant and prospect/client requests for proposals (RFPs) and questionnaires in a thorough and timely fashion, among other duties.

MARCUS & MILLICHAP
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(PALO ALTO, CA) Responsibilities include: track / monitor current trends in equity markets relevant to MMC and its subsidiaries and implement long-term capital markets strategies and various other initiatives.

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