SAN FRANCISCO-CBRE has restructured its Northern California institutional-investment team to strengthen its delivery of capital-markets solutions to commercial real estate investors in the San Francisco Bay area as well as across Northern California. The restructuring involves a relocation for one executive, a return engagement for another and a joining of forces with two other CBRE executives in the area.
Russell Ingrum, a capital markets professional and the practice leader for CBRE’s office institutional group nationally, will relocate to San Francisco from Houston, where he serves a stable of institutional investors in meeting their needs in markets across the country. Following his relocation to San Francisco, Ingrum will continue to serve as the national office practice leader for CBRE’s institutional group, and Kevin Shannon will maintain his position leading the company’s office investment practice in the West. Ingrum will continue to be active in Texas markets, collaborating with Bernard Branca and Jared Chua in Houston and Gary Carr in Dallas to meet institutional investor needs in those markets. He has been a key team leader in the successful disposition of more than 605 million square feet of property in 60 different markets with a total value exceeding $36 billion.
Also, Sean Sullivan, a 20-year veteran of the California real estate investment market, has rejoined the company as EVP in the investment properties institutional group, also based in San Francisco. He began his real estate career with CBRE in 1992 and rose to become one of the firm’s top investment-sales professionals prior to his departure in 2005. During his previous tenure with CBRE, Sullivan was a key member of the institutional group in the downtown Los Angeles office, focusing on the sale of large office assets throughout Los Angeles County. After his departure in 2005, Sullivan became a SVP with Eastdil Secured in Los Angeles, where he participated in the sale of nearly 100 office assets in Southern California totaling approximately $15 billion volume.
“A clear mandate for CBRE globally and across business lines is to be number one in every market across every service that we offer,” Ingrum tells GlobeSt.com. “With Sean’s and my long history of institutional transactions, this gives us a chance to do something different. We’re building the debt side of the platform, so it’s all good.”
In addition, Ingrum and Sullivan will join forces with Joseph Moriarty, a SVP in the San Jose office, to lead the Northern California institutional investment team, which will deliver comprehensive capital-markets solutions for investors in the Bay area, Silicon Valley and across Northern California. Also joining the team is Tyler Meyerdirk, an associate in CBRE’s San Francisco office, who has been a key part of the institutional group in that market for seven years.
“When we’re dealing with the top end of the market, we’re talking about sophisticated capital, and you need sophisticated people on the advisory side to manage that,” Chris Ludeman, president of CBRE Capital Markets tells GlobeSt.com. “With people like Russell, Joe and Sean, we’ve now accomplished that in San Francisco after careful and strategic thought.”
The latest restructuring comes on the heels of other executive moves at CBRE. As GlobeSt.com previously reported, earlier this month a veteran team of investment brokers formerly with CBRE and specializing in apartment sales and high-density multifamily development sites has joined Cushman & Wakefield in the expansion of its investment-sales services in Northern California. The San Francisco multifamily group is being led by Todd Vitzthum as executive director and includes Jeremy Cline, director; Simon Herrman, director; Rawley Nielsen, director; Jason Parr, director; and Mike Nguyen, client services. Vitzthum and his team have worked as lead advisors on several high-profile multifamily assignments throughout the Bay area. Also, as GlobeSt.com reported earlier this month, CBRE’s CEO Brett White will retire at the end of the year, and current president Robert Sulentic will take on the CEO post.
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Carrie Rossenfeld
Carrie Rossenfeld is a reporter for the San Diego and Orange County markets on GlobeSt.com and a contributor to Real Estate Forum. She was a trade-magazine and newsletter editor in New York City before moving to Southern California to become a freelance writer and editor for magazines, books and websites. Rossenfeld has written extensively on topics including commercial real estate, running a medical practice, intellectual-property licensing and giftware. She has edited books about profiting from real estate and has ghostwritten a book about starting a home-based business.
