Last week news broke that Blackstone is placing a big bet on Las Vegas with a $1.7-billion ante for the Cosmopolitan, a 3,000-room hotel and casino that has been a double-down bust for Deutsche Bank.
According to a recent Wall Street Journal article, Blackstone is making a big bet on Vegas with over $3.5 billion invested in single-family homes and industrial properties to compliment the Cosmopolitan investment.
I like Blackstone’s bets. When a market is on its back—like Vegas—that’s the time to make opportunistic bets, and Blackstone has the chips to cover the table.
Who would think that Vegas would be on the comeback trail, with all those Indian Nation and Mississippi River boats siphoning the action? Careful, Blackstone took a big-odds bet on the Vegas Craps table.
CHILDRESS KLEIN PROPERTIES
Director of Operations
(CHARLOTTE, NC) Duties include developing best practices and standard operating procedures; coordinating with property teams to ensure consistent interpretation and application of established policies, plans and procedures; coordinating Performance Management processes and results, including development of Key Performance Indicators and preparation of annual performance reports to clients; establishing portals for internal and client access to reports, standard operating procedures, policies, property information, and other common data required for portfolio operations; and reviewing third party property management contracts, joint venture agreements, and other legal documents to ensure compliance with obligations to outside owners and insure compliance with contracts.
FRITZ DUDA COMPANY
Vice President, Finance
(DALLAS, TX) Establishing best practices in the implementation of systems, controls, reporting and the integrity of the finance, accounting and related administrative needs of the Company; participating in the assessment and analysis of project development, acquisition, trade and similar complex real estate transactions; managing banking, construction and permanent lending relationships; overseeing administrative functions including insurance and property tax administration; and collaborating with outside consultants in tax planning, reporting and key functions that are provided through quality third party relationships.
ROSS STORES, INC.
Real Estate Law Attorney/Director
(DUBLIN, CA) Position will provide legal services for the departments of the Property Development Division of Ross Stores, Inc., its subsidiaries and related companies. In addition, duties include negotiating legal documents and perform other real estate legal services on an in-house basis in order to minimize outside legal fees, while building in-house expertise. Also included: negotiating and drafting leases; supervising the preparation of memoranda of lease and other related documents by paralegals; reviewing due diligence lease materials and analyzing the impact on the lease and transaction; preparing lease amendments and letter agreements, as requested by Management; and supervising Estoppel Certificates prepared by a paralegal based on information provided by other departments.
Senior Manager, Workplace Services and Cultures
(SEATTLE, WA) The primary purpose and function of the Senior Manager, Office Services & Culture will be to provide an inspirational office culture, helping to create work environment that reflects an “Employer of Choice”, “Great Place to Work”, through programs and services that result in an engaging environment for corporate employees. In addition to influencing and impacting the corporate office culture, this position will manage the Reception team and, provide leadership support to the Executive Assistant team at the corporate office while working directly with line managers to build a high performing team of administrators, increasing organizational capability through support staffing, development planning and customer service skills development and effectiveness of these teams.
CUSHMAN & WAKEFIELD
Research Director – Northern California
(SAN FRANCISCO, CA) The Research Director will provide C&W service lines with a superior level of expertise in the area of real estate market research and analysis as required and requested. The Research Director will also assist in procuring new business through superior market knowledge and presentation and provide market analysis for the purpose of enabling internal and external clientele to make sound real estate decisions. In addition, this position will manage the Northern California research team supporting the San Francisco, Oakland, Sacramento, Silicon Valley, Marin County and Walnut Creek markets.
ARC REALTY FINANCE TRUST, INC.
Vice President Asset Management
(NEW YORK, NY) ARC Realty Finance Trust, Inc. (RFT) is a real estate investment trust that seeks to acquire, originate and manage a diversified portfolio of commercial real estate debt investments secured by income-producing properties located primarily within the United States. RFT seeks to hire a Vice President, Asset Management in its New York City office, which will report to the Head of Asset Management and work with a seasoned team of industry professionals. Responsibilities include actively assisting in managing a portfolio on commercial real estate loans and working in conjunction with third-party servicer to manage Borrower compliance data and covenant compliance.
INDUSTRIAL INCOME TRUST
Acquisitions & Development Associate
(NEWPORT BEACH, CA) IPT is seeking an Associate for immediate hire to be involved in all aspects of the Company’s acquisition, development, disposition, and asset management activities. The primary role of this position will be to provide financial analysis, underwriting and due diligence support to senior management in making investment decisions. Additionally, the Associate will help create investment and board memorandums for formal acquisition approval.
(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.