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LOS ANGELES—George Smith Partners has named Bryan Shaffer, Jonathan Lee and Shahin Yazdi as principals, GlobeSt.com reports exclusively. These are the first new principal appointments since 2013, and only the second group of appointments in the firm's history. Shaffer, Lee and Yazdi will join principal Malcolm Davies and co-founding principals Gary M. Tenzer, Gary E. Mozer, David Rifkind and Steve Bram.

“This is something that really goes back to George and his philosophy,” Tenzer tells GlobeSt.com. “The co-founding partners were really very influenced by George, and we really wanted to carry his ethos forward after George passed away. When we started the company, George asked us to be partners with him because he thought the company would do better if we had a proprietary interest, and he was absolutely right. It certainly shaped my career as it did my co-founding partners, and we wanted to make that available to other people who have joined us subsequently and who have really distinguished themselves in doing exemplary work for clients.”

Lee has been at the George Smith Partners for a decade, while Yazdi has been there for eight years and Shaffer has spent four years at the company, plenty of time for each of them to excel at the firm. However, Tenzer says that the appointments have less to do with tenure and more to do with leadership. “It is participation with the company and leadership with the community, both the real estate community and in the greater community, and being involved in charitable causes,” he says. “There are a lot of qualitative contributions to the greater community. Those are the same qualities that George used to evaluate us and invite us into partnership initially.”

Davies was made a principal in 2013, the last and only other principal appointment at the firm, and Tenzer says that adding new principals is something they plan to continue on a limited basis. “This is something that we will continue to do in the future. For people who join us early in their career or even mid-career, there is an opportunity to come into ownership if they excel and are exemplary,” he says.