Karlin Conklin Conklin says it was never a conscious effort to break a glass ceiling but instead, follow a passion.

PORTLAND, OR—Investors Management Group Inc. has expanded its corporate, asset management and investor relations teams with five new hires. Joining IMG are Helen Rabano, controller; Michele Hrivnak,  managing director, asset management; Dave Mikkelsen, investor relations manager; Kris Gillum, investments coordinator and Julie Flesner, communications director.

"With a national investment portfolio of 13 apartment communities totaling 2,500 units, we're delighted to bring on this exceptional staff as we continue our growth as a premier investor-focused multifamily sponsor," said CEO Neil Schimmel.

Principal and executive vice president Karlin Conklin, an outspoken advocate on the importance of C-suite diversity for better investment outcomes, notes that females in principal and director roles in this industry are not the norm.

"Women traditionally have been outside CRE investment firm top leadership teams," says Conklin.  "I'm proud to say that women now comprise more than half of the Investor Management Group staff. We have a remarkable level of diversity across our firm in terms of backgrounds, languages and experience. I know this enhances our decision-making and reporting to benefit our investor groups. I became a principal in 2015 and wish to keep our firm top-heavy and diverse by design."

With female leadership represented in less than 3% of US private equity firms, Conklin recently discussed the significance of her position as principal and her passion to influence a new generation of investors.

GlobeSt.com: What is the importance of C-suite diversity for better investment outcomes?

Conklin: Women traditionally have been absent from CRE investment firm leadership teams. A PitchBook study this year found that just 2.6% of US private equity firms had female C-Suite executives.

My partner, IMG's founder-CEO, will look at a dilapidated building and see the vision—its potential. Our third partner (originally from South Africa) focuses on capital markets and debt, and where the property could go financially within five years. I translate the opportunity to investors, advising how the property can consistently deliver cash and long-term equity growth. The three of us are very different in how we translate information, and these differences profoundly benefit our properties and investors.

For example, we purchased a high-rise tower in Seattle metro in 2014. Our multimillion-dollar facelift elevated the property and tenant living experience, and it positively impacted the neighborhood. The recent sale of this tower more than doubled our investor group's equity. The outcome was a win from every perspective.

GlobeSt.com: What are some of the unique qualities of your staff make-up?

Conklin: I'm proud to say that women now comprise more than half of the Investors Management Group staff. This quality alone is virtually unheard of in the world of private equity. We also have a remarkable level of variety across IMG in terms of ethnicities, languages and career backgrounds. Believe me, there is no 'group think' at our company.

Growing a team with different perspectives and experience has resulted in a unique flat organization structure. Reducing hierarchy significantly boosts our staff's innovation and productivity.

GlobeSt.com: Was the female equation a conscious effort or an organic one?

Conklin:  You can't grow a real estate company with just real estate people. One of our staff members founded an international animal rights nonprofit. Another came to our firm as a fashion stylist at Nike's global headquarters. Another once launched her own successful coffee shop (in Portland's caffeine scene…that's no small feat). The high level, diverse skills these women developed in their prior pursuits result in a comprehensive, interesting view of business which makes our firm stronger.

I discovered a love of mentoring while pursuing my MBA. I helped launch the Lundquist Center for Entrepreneurship at the University of Oregon, which transitioned into the work I do today. I became a principal in Investors Management Group after having achieved $1.5 billion in transactional volume in brokerage and real estate syndications.

It was never a conscious effort for me—or any of the women I've hired at IMG—to break a glass ceiling. All we did was follow our passions and prove our worth.

Traditionally, women have been boxed into residential real estate, a space known for emotional-based purchase and sale decisions. We've found success in private equity real estate through exceptional communication, listening and negotiating skills. It's all about ditching the pre-conceived notions of who would be good for a particular role and maintaining a neutral hiring process.

GlobeSt.com: How many more female or in general staffers do you anticipate hiring?

Conklin: It takes a village to make these investment properties work. We have people focused on the physical property, market dynamics, acquisitions, capital markets, financing and asset management. My focus is keeping communication lines open with our investors and mentoring individuals who are curious about passive income opportunities through syndication.

The bottom line is, investment offerings are more accessible today. Crowdfunding technology is disrupting the 'good old boys' club. As a result, we're seeing a more diversified group of accredited investors inside our virtual deal room.

We will continue evolving our organization to align with this evolving market and investor profile. Our firm's goal is to double our portfolio size in 2020. I wish to keep our boutique firm transparent, top-heavy and diverse by design.

IMG's investor relations and asset management teams are based at its downtown Portland location while the acquisitions, analyst and finance staff remain at the firm's Woodland Hills, CA office. IMG has transacted more than $1.4 billion nationally in this cycle, with $410 million in multifamily assets (2,500 units) currently under management nationwide. 

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Lisa Brown

Lisa Brown is an editor for the south and west regions of GlobeSt.com. She has 25-plus years of real estate experience, with a regional PR role at Grubb & Ellis and a national communications position at MMI. Brown also spent 10 years as executive director at NAIOP San Francisco Bay Area chapter, where she led the organization to achieving its first national award honors and recognition on Capitol Hill. She has written extensively on commercial real estate topics and edited numerous pieces on the subject.