Mergers & Acquisitions
The stock market hit a rough patch after the New Year, but it appears to be recovering, having taken back some of its losses.
On the real estate front, however, the news is much rosier. The two real estate juggernauts CBRE and JLL have been seriously outpacing the S&P 500 since Jan. 1. CBRE is up 4.3% and JLL is charging ahead with an 18.3% gain.
The strong performance on Wall Street reflects the real estate recovery, which will fuel sales, brokerage commissions and an assortment of other fees.
There is another angle here, though. As the stocks and earnings keep rising, we may see an active M&A market as CBRE and JLL focus on driving growth through expanding offices, hiring staff, and making strategic acquisitions of smaller firms. There are a number of firms that must be in their radar screens, and I fully expect to real about this or that acquisition in the coming months.
Happy days are here again.
PS BUSINESS PARKS, INC
(RICHARDSON, TX) Position will execute the marketing and leasing strategy for commercial real estate properties. Specific duties include overseeing the entire leasing process from generating initial prospect interest through qualification, lease negotiation and document execution; managing and supervising assigned support team and third-party brokers; making recommendations and assisting in the coordination of property improvements designed to supplement the leasing process; and maintaining company and property visibility with the local brokerage and prospect community to maximize property exposure to the marketplace.
ROSS STORES, INC.
Director, Real Estate
(DUBLIN, CA) Position will direct the analysis, selection, negotiation, administration and coordination of Ross’ new store Real Estate program, and/or the relocation, replacement, expansion and surplus store programs as assigned by the Regional Vice President of Real Estate, Vice President of Real Estate, and Sr. Vice President of Property Development. In addition, the Director, Real Estate will act as the primary Ross representative in dealings with landlords.
Private Equity Associate (PRE-MBA)
(LOS ANGELES, CA) The Associate (Pre-MBA) is an integral part of the Investments deal team, responsible for handling the majority of the financial modeling, research, and underwriting of an investment. Key responsibilities include: financial analysis and underwriting potential acquisition and development opportunities to include cash flow modeling, property valuations, investment analyses (IRRs, sensitivity tables, etc.), and joint venture structuring; supporting deal team by independently performing market research of investment districts and other market data by utilizing CIM resources, such as relationships with external experts, to inform decision making; due diligence; and investment recommendation.
WASHINGTON REAL ESTATE INVESTMENT TRUST
Real Estate Analyst
(ROCKVILLE, MD) Position will be heavily involved in acquisitions, dispositions, and asset/portfolio management functions. Training on various valuation techniques and finance applications will be taught and a strong learning environment is fostered within the division. General real estate market knowledge will be developed through a variety of sources in addition to exposure to all aspects of the business. The Analyst will thrive in an environment consisting of formal and informal training and will demonstrate the ability and willingness to learn and develop their skills. Other benefits include exposure to underwriting different property types through the evaluation of office, retail and multifamily deals.
AEW CAPITAL MANAGEMENT
Asset Management Associate
(LOS ANGELES, CA) Duties include supporting the Asset Manager in the Direct Investment Group on assets through data collection, cash flow modeling, competitive analysis, research analysis and annual business plan and budget preparations; preparing quarterly cash flow projections; sharing accountability for budgeted results and supports the budget versus actual analysis; supporting restructurings, sales and asset financings as required; understanding capital and investment structure and the relationship between property operations and investment performance; and analyzing leases and rental rates.
Vice President, Controller
(Boston, MA) Controller will manage and oversee the Company’s accounting functions, including Property Accounting, Financial Reporting and Tax; oversee and direct the monthly, quarterly, and year-end financial closing process; review company financial statements for accuracy and clarity; direct cost controls and accounting practices for financial statements and audits; analyze and interpret financial data, and recommend changes to improve systems and financial performance; establish controls which verify the integrity of all systems, processes and data; and oversee the coordination and management of all audits.
NYC HOUSING AUTHORITY
Chief Communications Officer
(NEW YORK, NY) NYCHA is seeking a Chief Communications Officer to lead and administer the agency’s public relations and information, community education, and citizen participation programs. Reporting directly to NYCHA’s Executive Vice President for External Affairs, the CCO will manage the dissemination of information about the Authority to the media, residents, employees, constituents and advocacy groups, public officials and the general public; develop and lead the implementation of public service and information campaigns that support NYCHA initiatives; and serve as a member of NYCHA’s Executive Cabinet.
Workplace Strategy Designer
(TORONTO, ONTARIO) Position will focus on anticipating real estate issues and building solutions supporting the business requirements, aligned with the Corporate Real Estate space strategy. Additional duties include promoting and evolving the Alternative Work Styles (AWS) program and ensuring participants have the resources, training, services and support to work effectively in their work arrangement; acting as a primary source of real estate information for the business units on a day-to-day basis to foster a good working relationship; and working closely with business units to help achieve their real estate–related goals by monitoring the occupancy and business trends of their business.