Last week Korn Ferry's Hay Group reported that college grads have a lot to be happy about as they pick up their diploma on the way to the job market. According to the study reported last week, average base pay for newly minted graduates up-ticked to $49,785 making this year's class the highest earning in the last decade, and 14% higher than 2007, the last high-water mark. The biggest winners were, not surprisingly, software developers who saw a big increase to $65,232. This is all very good news, reflecting high employment and continued economic growth.
Of course, this begs the question, how long will this cycle last. On the real estate front, after talking it up at the recent ULI Spring Meeting two weeks ago, I came away with the view that, barring an unforeseen dislocation, the cycle will live on with steady but slow growth over the next couple of years. So, I'm happy for this year's grads, and hopefully they will be able to establish themselves in their careers while the grass is green.
Job Listings
BUILDING LAND AND TECHNOLOGY
Commercial Leasing – Director
(STAMFORD, CT) Position will be responsible for attracting tenants for a variety of AAA rated commercial office properties within the Stamford and Norwalk CT portfolio; and will be be focused on the marketing, client development and leasing of mid-size to large transactions.
BASIN STREET PROPERTIES, INC.
Commercial Senior Property Manager
(SANTA ROSA, CA) Specific duties include: managing day-to-day operations of the portfolio; assisting in developing and implementing action plans that will achieve or surpass management objectives and maximize the asset value of each property; and fostering and maintaining positive tenant relations through regular site visits, tenant meetings, and response to inquiries and work orders.
MAC PROPERTIES
Senior Property Accountant
(ENGLEWOOD, NJ) Accountant will be assigned multiple properties and will responsible for the monthly entries, variance analysis, CAM recs, and more. Additional duties include: maintenance and reconciliation of all general ledger activity for properties in the assigned portfolio; and preparing monthly accrual based work paper packages, including variance explanations.
MCA REALTY
Assistant Property Manager
(LAS VEGAS, NV) Duties include: performing move-ins and move outs, and maintaining positive relationships with all the tenants; working with Sr. Property Manager on gathering information and pricing and obtaining bids for maintenance, and Annual Budgets etc.; and assisting Sr. Property Manager with Annual CAM Reconciliations.
HUNT MORTGAGE GROUP
Vice President Underwriting
(WASHINGTON, DC) Position will be responsible for reviewing, inspecting, and underwriting multifamily agency loan applications, primarily for Freddie Mac and Fannie Mae conventional loan programs. The VP will make informed recommendations to the Hunt Mortgage Group Credit Officer as well as provide guidance and assistance on agency loan assumptions, as needed.
DEUTSCHE ASSET MANAGEMENT
Portfolio/Asset Management Associate
(SAN FRANCISCO, CA) Primary duties include providing quantitative and qualitative support for West Coast Portfolio Managers and Asset Managers. Opportunity offers broad exposure to 15-20 properties across the office, industrial, multi-family and retail sectors, in the Bay Area, Seattle and Southern California.
AIG GLOBAL REAL ESTATE INVESTMENT CORP.
Associate
(SAN FRANCISCO, CA) Associate will support Asset Management Team responsible for the management of special asset and work-outs, in order to achieve AIGGRE's goals and objectives with respect to execution of business plans and investment strategies.
PNC FINANCIAL SERVICES
Corporate Real Estate Construction, Senior Leader
(PITTSBURGH, PA) Position will manage several project managers for the construction of ground up projects as well as office and retail property rehabilitations and build-outs; and ensure projects are executed on time and on budget and design intent and quality standards are met.
Last week Korn Ferry's
Of course, this begs the question, how long will this cycle last. On the real estate front, after talking it up at the recent ULI Spring Meeting two weeks ago, I came away with the view that, barring an unforeseen dislocation, the cycle will live on with steady but slow growth over the next couple of years. So, I'm happy for this year's grads, and hopefully they will be able to establish themselves in their careers while the grass is green.
Job Listings
BUILDING LAND AND TECHNOLOGY
Commercial Leasing – Director
(STAMFORD, CT) Position will be responsible for attracting tenants for a variety of AAA rated commercial office properties within the Stamford and Norwalk CT portfolio; and will be be focused on the marketing, client development and leasing of mid-size to large transactions.
BASIN STREET PROPERTIES, INC.
Commercial Senior Property Manager
(SANTA ROSA, CA) Specific duties include: managing day-to-day operations of the portfolio; assisting in developing and implementing action plans that will achieve or surpass management objectives and maximize the asset value of each property; and fostering and maintaining positive tenant relations through regular site visits, tenant meetings, and response to inquiries and work orders.
MAC PROPERTIES
Senior Property Accountant
(ENGLEWOOD, NJ) Accountant will be assigned multiple properties and will responsible for the monthly entries, variance analysis, CAM recs, and more. Additional duties include: maintenance and reconciliation of all general ledger activity for properties in the assigned portfolio; and preparing monthly accrual based work paper packages, including variance explanations.
MCA REALTY
Assistant Property Manager
(LAS VEGAS, NV) Duties include: performing move-ins and move outs, and maintaining positive relationships with all the tenants; working with Sr. Property Manager on gathering information and pricing and obtaining bids for maintenance, and Annual Budgets etc.; and assisting Sr. Property Manager with Annual CAM Reconciliations.
HUNT MORTGAGE GROUP
Vice President Underwriting
(WASHINGTON, DC) Position will be responsible for reviewing, inspecting, and underwriting multifamily agency loan applications, primarily for
DEUTSCHE ASSET MANAGEMENT
Portfolio/Asset Management Associate
(SAN FRANCISCO, CA) Primary duties include providing quantitative and qualitative support for West Coast Portfolio Managers and Asset Managers. Opportunity offers broad exposure to 15-20 properties across the office, industrial, multi-family and retail sectors, in the Bay Area, Seattle and Southern California.
AIG GLOBAL REAL ESTATE INVESTMENT CORP.
Associate
(SAN FRANCISCO, CA) Associate will support Asset Management Team responsible for the management of special asset and work-outs, in order to achieve AIGGRE's goals and objectives with respect to execution of business plans and investment strategies.
PNC FINANCIAL SERVICES
Corporate Real Estate Construction, Senior Leader
(PITTSBURGH, PA) Position will manage several project managers for the construction of ground up projects as well as office and retail property rehabilitations and build-outs; and ensure projects are executed on time and on budget and design intent and quality standards are met.
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Anthony J. LoPinto
Tony LoPinto is the Global Sector Leader of Korn Ferry’s Real Estate Practice and founder of SelectLeaders. For the past 18 years LoPinto has been serving his clients with deep knowledge and perspective on talent needs and organizational challenges to public and private companies – knowledge gained from a 25-year career in real estate. Prior to his current position, he founded and served as chief executive officer of a boutique real estate executive search firm, where he oversaw offices in New York, Chicago, Washington, DC, San Francisco and Los Angeles. He has successfully led several high profile search engagements for chief executive officers, directors and a wide-range of executive level positions across all industries and sectors. He earned a Bachelor of Arts degree in European history from Loyola University in Chicago.
