Gee, GGP

At the close of yesterday's wild market when the Dow soared over 700 points, Brookfield announced that it had come to an agreement to acquire GGP for $23.50 per share. Many analysts are disappointed with the price, indicating that it's a low-ball offer based on the quality of the malls and their high occupancy levels.

GGP has been on a rocky road since the Great Recession of 2008 and its subsequent bankruptcy. More recently, it's been pummeled by online retailing.

We have talked a lot about commerce and the scourge of the Internet that's turned the retail business upside down. Alas, we are over-malled in the US and GGP is likely to be the first of many shopping center and mall owners that are dismantled as fewer mega players drive the restructuring and pruning of the sector.

Job Listings

Sponsored Job
AEGON ASSET MANAGEMENT
Senior Director Mortgage, Loan Production
(CHICAGO, IL) Duties include: producing department's largest and most complex transactions meeting client (balance sheet and securitized) pricing and quality requirements; managing relationships with mortgage bankers, brokers and borrowers to optimize production in region; and structuring CMLs to meet production goals according to quality/yield requirements and volume targets of various clients.

Sponsored Job
BERKADIA
Vice President, Marketing, Communications and Events
(AMBLER, PA) The VP-Communications, Marketing and Event Planning will play a pivotal role in the planning and execution of all forms of marketing and event planning initiatives. Specific duties include establishing effective social media and digital marketing strategies to drive awareness and transactions with customers.

Sponsored Job
LMC
Development Manager
(SCHAUMBURG, IL) Position will be responsible for all aspects of development for several large-scale multifamily and mixed-use projects with a focus on planning, entitlement, financial analysis and overall management of the development process from inception to stabilization.

CAREER OPTIONS – RECRUITING SOLUTIONS
Director of Marketing for Multifamily “Owner/Managed” Property Management Company
(SANTA BARBARA, CA) Reporting to the Chief Operating Officer, primary responsibility will be to generate more customer demand for apartments. Specific duties include: company-wide branding; creating e-marketing strategies designed to increase brand recognition; and executing effective strategies and marketing plans for lease ups and stabilized communities.

SLATE PROPERTY GROUP
Development Analyst/Associate
(NEW YORK, NY) Analyst/Associate is needed to join real estate development team to focus on managing development projects. Duties include: assisting VP in managing multiple development projects; reviewing monthly requisitions; coordinating with architect, engineers and contractors; and working with acquisitions team on new development opportunities.

STARWOOD RETAIL PARTNERS
Analyst – Asset Management
(CHICAGO, IL) Position will be responsible for portfolio-level cash flow modeling, assisting the team in monitoring and improving the investment performance, investor communication, and supporting capital markets activities.

WATER STREET PARTNERS
Senior Analyst/Associate
(MINNEAPOLIS, MN) Position will be involved in all investment activities, including acquisitions, due diligence, asset management and fund administration.

BOOS DEVELOPMENT
Development Project Manager
(SANTA ANA, CA) DPM will coordinate with BDG's real estate selection team to prepare initial site layouts and feasibility reports; manage all aspects of the due diligence process including, but not limited to: feasibility studies, geotechnical evaluations, environmental audits, title reviews, and surveys.

MTA
Associate Director, Facilities
(NEW YORK, NY) Role will provide strategic planning and managerial direction; oversee the outsourced work force engaged in the maintenance, repair activities, procurement of maintenance contracts; and prepare annual operating budgets associated with the MTA Office portfolio.

FORE PROPERTY COMPANY
Development Director
(SOUTHERN CALIFORNIA, CA) Development Director will participate in all aspects of development including site selection, due diligence exploration, financial analysis, budgeting, contract negotiation, development consultant management, site acquisition, investment package creation, coordination of the permitting process, execution of the construction documents, and general contractor management.

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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.