Slowdown to 2020

Last Friday the Labor Department reported for the 104th straight month the economy added jobs, but the news wasn’t all roses because 75,000 jobs were added vs 263,000 in April. The lower jobs report was the weakest since the great-recession ended in mid-2009, and the hiring slowdown was broad-based across all industries. We are also seeing a slowdown on the executive search front with new assignments flattening out versus the robust hiring environment that we observed in 2018. The other indicator is that factory output is down after a year of record output with consumers and companies buying less cars, trucks, and tractors coupled with fewer homes being built. All of this translates to a slowdown, but even if we have a flattening-out of the economy, as long as it is short of recession we just might have an okay 2020.

Job Listings

SPONSORED JOB NORTHPOND PARTNERS Controller (CHICAGO, IL) Reporting directly to Managing Principals, the Controller will act as the key contact in ensuring accounting operations are running efficiently and effectively at the fund, management, and property management level. Specific duties include overseeing fund level accounting, including purchase and sale transactions of various properties, investor capital contributions, investor distributions, intercompany management fees, etc.

TISHMAN REALTY PARTNERS LLC Director, Commercial Real Estate Acquisitions (NEW YORK, NY) Position will be responsible for identifying, evaluating, and pursuing acquisition opportunities, with a focus on office and retail opportunities in the New York market. Specific duties include: evaluating relative value and strategic fit of potential acquisition based on analysis of pro forma financials and other financial models; conducting due diligence; and developing working relationships with key leasing/investment sale brokers.

LANDMARK PROPERTIES Senior Asset Manager (ATHENS, GA) Position will play a key role in the administrative, financial, capital and operational management for a portfolio of assets. Duties include new developments and stabilized properties with responsibilities across the full life cycle of deals from underwriting, analysis, development, through construction, lease up and stabilization.

HUNT COS. VP Conventional Underwriting (WASHINGTON, DC) Reporting to a Deputy Chief Underwriter, the VP will be responsible for reviewing, inspecting, and underwriting multifamily agency loan applications, primarily for Freddie Mac and Fannie Mae conventional loan programs.

DUKE REALTY Director, Acquisitions – Logistical Commercial Real Estate (IRVINE, CA) Position will be responsible for identifying, underwriting, negotiating, structuring, and executing acquisition opportunities in the Western U.S. Specific duties include: recommending strategies and tactics that promote effective property acquisition, development activities, and redevelopment alternatives; underwriting, negotiating, and closing acquisitions; and leading deal teams from sourcing through execution.

LMC Director of Development (ALISO VIEJO, CA) The Director of Development will be responsible for executing development functions for multifamily and mixed use real estate projects in the So. California (LA, Orange County, San Diego) region with a focus on planning, entitlement, financial analysis, and overall management of the development process from site identification to stabilization for the region.

MADISON MARQUETTE Retail Property Manager The Wharf (WASHINGTON, DC) Manager will provide overall retail property management support to the Retail Owner and Asset Manager, with direct responsibility for proactive tenant relations, preparing monthly and quarterly financial reports, rent collection, monitoring retail tenant lease compliance and coordinating on-site retail operations.

RUBENSTEIN PARTNERS Director of Research (PHILADELPHIA, PA) Position will focus on the standard areas of research existing in real estate companies today, such as market information (i.e. rents, vacancies, etc.), as well as transformative ideas in the office sector. Position will take advantage of a platform solely focused on the largest sector in real estate, offices, and will generate applied research by tracking and seeing “live” how the office product is being purchased and operated in today’s environment.

HEITMAN Originator, Private Real Estate Debt (NEW YORK) Duties include: originating, structuring, and closing senior and subordinate debt transactions throughout the Eastern United States; negotiating complex senior bridge loans and mezzanine/preferred equity positions; and assessing risks and opportunities.

CALIFORNIA STATE TEACHERS’ RETIREMENT SYSTEM Real Estate Portfolio Manager (SACRAMENTO, CA) The CalSTRS Investments branch is seeking two motivated individuals to work as Portfolio Managers in the Real Estate investment unit. The branch manages the investment portfolio for the nation’s second largest public pension fund. The Real Estate unit’s responsibilities include investment and operational oversight in order to manage the over $30 billion portfolio.