I do not typically view this column as an outlet for obituaries. However, this time I will make an exception to reflect on Paul Reichmann, who was the chief strategist and architect of Olympia & York. Reichmann died last Friday, and we lost one of the great developers of all time.
I grew-up in the real estate business in New York City in the ’70s, when iconic family businesses that built the office and apartment high-rise buildings were working on their second generation of leadership such as the Rudins, the Resnicks, the Dursts, Tishman-Speyer, and many more. One name that emerged that decade was Paul Reichmann and his company, Olympia & York, who entered Manhattan from north of the border in Canada.
O&Y acquired the portfolio of the Uris family, who went bust during the recession of that era. That acquisition launched O&Y into the major leagues and set the stage for the development of World Financial Center, across from the World Trade Center. Reichmann was caught by the recession of the early 90’s and filed bankruptcy, only to emerge again in London to develop Canary Wharf.
The size, scope and scale of Reichmann’s vision and accomplishments are legendary and worthy of note on his passing. Oh, and Reichmann had one other important ingredient: chutzpah, the Yiddish word meaning courage, mettle or ardor that an individual has.
Paul certainly had plenty of chutzpah. He will be missed.
Property Manager - Commercial
(LOS ANGELES, CA) The Commercial Property Manager will be accountable for effectively administering policies and procedures that promote well-managed, well-maintained buildings and grounds at company-owned commercial office properties. This position will provide property management and oversight for multiple properties within the West Los Angeles and Greater Los Angeles Area for both retail and office properties. The overriding management objective is to achieve maximum return on investment-grade commercial real estate assets.
GSI EXECUTIVE SEARCH, INC.
President Commercial Real Estate
(CLEARWATER, FL) Client is a large scale planned award winning community located on Florida’s west coast, seeking candidates for the position of President Commercial Real Estate Company. The community currently consists of over 6000 homes and approximately 3 million square feet of mixed commercial use. There is the potential of an additional 6 million square feet. Candidates should have expertise in every aspect of the project cycle; including development, management, leasing and sales of office, retail and industrial properties. Duties include overseeing leasing and property management effort of portfolio properties; management of Commercial Owner Associations; participating in PRC review of building design; overseeing construction management activities; negotiating contracts as required; and maintaining marketing plans for land transition and portfolio properties.
USAA REAL ESTATE COMPANY
Sr. Technical Accountant
(SAN ANTONIO, TX) Position will assist with the review and analysis of joint venture, partnership, acquisition, debt and other legal documents to determine the appropriate accounting and reporting for the entities and transactions. Additional duties include responsibility for drafting comments to the documents; developing, executing, and reviewing the results of financial and operational controls; and reviewing financial results for operating entities. The Sr. Technical Accountant will also be responsible for general accounting functions relating to a real estate portfolio as well as be responsible for preparation of financial statements.
ROSS STORES, INC.
VP, Corporate Properties
(NEW YORK) This position will be based in New York, NY and will support the operational and strategic property activities associated with the North East buying offices. Responsibilities include: internal relationship management, external vendor management, space planning, project management, facility management, budget preparation, cost management, workplace safety and operational efficiencies.
(CLOSTER, NJ) Company is a Bergen County, New Jersey-based full-service real estate development company. The Company acquires, develops and manages strategically located open-air shopping centers and retail properties in the Northeast U.S. Duties include preparing financial statements, forecasts and other financial reports, including the annual budgets for the Company and the portfolio of properties; performing all financial transaction recording and reporting for the portfolio including monthly billings, accounts payable, accounts receivable and General Ledger transactions; performing monthly bank reconciliations; creating all vendor accounts and vendor info; managing all tenant information and monthly charges; maintaining tenant sales reports for portfolio; and creating monthly, quarterly and annual year-to-date financial reports including budget to actual performance.
CUSHMAN & WAKEFIELD
Managing Director, Facilities Management - East
(WASHINGTON, DC) Position will be responsible for providing portfolio oversight and thought leadership to facilities management teams in the East Region to assure service excellence, customer satisfaction and loyalty. Additional duties include leading new business development for facilities management and related services to Fortune 1000 corporate occupiers while seeking out opportunities to cross market to existing client base; leading client relationship management initiatives to expand service delivery; and assuming responsibility for the management and support of CIS strategies in the areas of business development, facilities management, transaction and lease management, portfolio administration, strategic planning, and business development.
FORE PROPERTY COMPANY
(LAS VEGAS, NV) Fore Property Company (FORE) is a full service, national real estate company that develops market rate and tax credit multifamily properties. Specific duties include maintaining and managing all aspects aspects of the general ledger; overseeing accounting functions for development, construction, and property management; preparing and/or reviewing appropriate journal entries and reconciliations; managing monthly close and reconciliation process; organizing the year-end audit process; cash management; accurate and timely financial reporting; reviewing and approving payroll processing; and supervising, training, and developing, accounting staff.
ERNST & YOUNG
Real Estate & Hospitality
(MIAMI, FL) As a member of the Ernst & Young Real Estate and Hospitality Transaction team, this position will serve as a member of multiple client engagement teams which primarily assist in real estate and hospitality advisory engagements in a fast-paced, service-oriented business environment. Seniors will work with a wide variety of real estate and hospitality-specific clients including owners, developers, builders, financial institutions, lenders, pension funds, as well as numerous Fortune 500 companies. Typical engagements include market studies, financial analyses, development advisory, return on investment calculations, transaction due diligence, appraisals and valuations, strategic planning, property performance enhancement, portfolio analysis and cash flow modeling. Responsibilities include collection of market information; analysis of real estate documents, including appraisals and lending documents; performing market studies; cash flow modeling; and report writing.