More Women Finding a ‘Seat at the Table’ in Dealmaking

More women are getting a “seat at the table” during commercial real estate dealmaking, something that gives Paula Harris a great deal of pride.

As managing principal and board chair at Golub & Company, Harris is one of the most accomplished and inspirational women in commercial real estate.

She has been a decades-long advocate for women in commercial real estate and was honored by the group Commercial Real Estate Executive Women (CREW) in 2017 for her contributions to women in the industry. Next week, she will be on hand for CREW’s national event in Chicago.

“The growing role of women in commercial real estate is the result of decades of gradual progress, and it’s gratifying to see,” Harris tells GlobeSt.com. “However, there still aren’t enough women in two important seats at those tables: in equity positions as real estate investors themselves, and in the C-Suites of both private and public real estate companies.

“I’ve had a unique vantage point to observe women’s progress in these circles, as an investment decision-maker for my family’s international real estate development and investment business for many decades.

“While I’ve seen an increasing number of women in truly important service provider roles (brokers, architects, bankers, attorneys, and so on), many times the final calls that make a deal happen or not happen are still made primarily by men.”

Investing in Women’s Leadership Initiatives

Harris said that there’s no “magic bullet, no single solution” to increasing women’s presence in the C-Suite and as equity investors. However, a balance of informal advocacy for individual women, coupled with companies investing in formal women’s leadership initiatives, is making a difference.

Harris pointed to programs that are helping women advance in the industry, such as the mentorship programs Goldie Initiative.

“It’s making a huge difference,” Harris said. “They invest in women who are serious about their careers in commercial real estate, with a specific goal of increasing representation in the C-Suite and other leadership roles. CREW also makes a huge difference through all its programs.

“Not only do they offer networking for women to do deals together and hire one another, but they also invest in scholarships, programming, and research that advances women in our industry.”

Cultivate a Culture of Excellence

Harris said she has long believed that it’s important to provide opportunities for all people to grow and feel valued.

“We do this in our business (at Golub & Company) for both men and women,” Harris said. “We cultivate a culture of excellence that empowers women to rise into positions of responsibility.

“I believe women advocating for other women is extremely important—both on a personal, individual level as well as through programs set up to help groups of women, or to impact the industry as a whole.”

Mentoring women on a one-to-one basis is a priority for Harris.

“One woman I mentored was Debbie Frank, who was our Director of Leasing for more than a decade,” Harris said. “She also became a fierce advocate for other women professionals in commercial real estate, before passing away in 2020 from cancer way too young.

“To honor her legacy, we founded the Debbie Frank Legacy Fund, which has donated more than $100,000 to CREW scholarships and to The Goldie Initiative, to support their advocacy for women in the industry.”