As the real estate markets continue their slow but steady recovery, senior professional and executive level compensation is increasingly top of mind for employers. The great recession put a lid on most cash packages, and in some cases there was a retrenchment in salaries and bonuses. In addition, wholesale job cuts put a large population on the street, many of whom are still not repositioned in their area of expertise, and nor have they returned to pre-recession compensation levels. These market situations dampened compensation across the board for at least three years. For those who weathered the storm in their current role or have found a new opportunity, compensation levels have generally returned to 2007 levels. Interestingly, this year more employers are of the view that they should take a more proactive and defensive approach to cash compensation for top performers as competition for talent returns for certain roles. One area of note is development which was dormant for years and is now back on track. On the other hand, in sectors such as homebuilders where the recovery is slower and more spotty, compensation continues to lag the go-go days prior to 2008. The net of the story is that top performers are doing just fine thank you, regardless of what sector they play in.
Tony LoPinto is the Global Sector Leader of Korn/Ferry International's Real Estate Practice and founder of SelectLeaders. The views expressed in this article are the author’s own.
HOLLIDAY FENOGLIO FOWLER, L.P.
Real Estate Analyst Investment Sales
(IRVINE, CA) Duties include preparing commercial real estate sales packages and submissions for presentations to buyers; responding to buyer questions regarding properties and the overall commercial real estate market; performing complicated financial modeling and spreadsheet analysis in Excel; preparing financial models in Argus; reviewing legal documents and third party reports as part of the due diligence process; coordinating information regarding market data, occupancy data, expense analysis, aerials, maps, rent/sales, comparables; and preparing market analysis reports, including vacancy, absorption, and comparable rents and sales.
JOHNSON & JOHNSON
Manager, Real Estate Planning & Transaction Management
(SINGAPORE) The position will work in collaboration with the regional portfolio lead to achieve J&J's business and enterprise goals and map its strategies and initiatives into regional and country real estate solutions; collaborate with the regional portfolio lead to perform feasibility studies that evaluate viable alternatives and balance business needs with enterprise direction and affordability; develop draft recommendations based on region and country specific real estate knowledge and leading practices for the regional portfolio lead's review; maintain region and country specific market intelligence in order to capitalize on opportunities as well as to react to time sensitive projects and initiatives; and develop business case for change to support proposed solutions.
EVP, Business Development & Counsel
(NASHVILLE) The executive vice president - business development/attorney will be a key member of the global leadership team, with primarily responsibility for execution of the company's growth strategies and initiatives. Specific duties include advising on and structuring various real estate matters and drafting, reviewing and negotiating various types of agreements in connection with such transactions; conferring with executives regarding general corporate initiatives to assess legal risks to the company and planning actions to control or minimize such risks; and handling other in-house counsel-related matters.
COHEN ASSET MANAGEMENT, INC.
(EDISON, NJ) Then asset manager will be responsible for a portfolio of primarily industrial properties currently owned in multiple New Jersey markets. Future responsibilities may include additional properties in the New Jersey, Pennsylvania, and Maryland markets. In addition, this position will be responsible for overseeing and managing third-party leasing and management companies and their respective staff and be accountable to the senior members of the company.
JONES LANG LASALLE
Senior Vice President - Real Estate Advisory with DOD
(WASHINGTON, DC) Public Institutions currently seeks a business leader preferably in San Antonio or Washington DC to grow JLL's business with the Air Force worldwide. Specific duties include pursuing new business and identifying areas for growth in conjunction with the firm's national public institution's leadership team and local markets personnel specifically focusing on Air Force, AFCEC; preparing responses to requests for qualifications and requests for proposals; engaging industry and prospective client contracts to identify business opportunities, prime/subcontracting opportunities and strategic partnering opportunities; and advising on all aspects of large-scale privatization or other public sector projects, including facility management, development, construction, finance, asset and portfolio management, energy, transactions and legal document review.
PIEDMONT OFFICE REALTY TRUST
Senior Property Manager
(NEW YORK CITY) Responsibilities include preparing and monitoring performance of property budgets; reviewing budget variances; evaluating each expense and attempt to adhere to budget; considering the overall NOI effect to the partners with each extraordinary expense; comparing invoices to budget and code appropriately; completing accurate and complete annual budgets by September 1; reviewing financials for accuracy; reporting any changes to Asset Management and Regional Manager monthly; and coordinating necessary revisions with property accountant.
PALMER CAPITAL INC.
Capital Markets Partner
(SACRAMENTO) Palmer Capital Inc., an industry leading private commercial real estate firm, is seeking a real estate professional to join its capital markets team headquartered in Sacramento. The firm is recognized for innovative business strategies that source investment opportunities as well as provide debt and equity placement for office, industrial, and retail properties in multiple Western markets. The successful candidate will be responsible for underwriting, marketing, structuring debt and equity, and the management of client relationships. Bachelor's degree required, as well as experience in commercial real estate.
Property Portfolio Manager Mgr 4
(PORTLAND, OR) The position will be responsible for the operational continuity and preservation of all company owned, leased or managed leased real estate within a moderate-scale and complex portfolio. This position will represent company interests with internal customers, vendors, landlords and external tenants; negotiate building service agreements, project terms and conditions as well as interprets and implements certain lease terms and conditions; and in partnership with other divisional service delivery partners, assume responsibility for the efficient delivery of all property and portfolio management services by applying preferred operational service standards, effective asset preservation planning and work effort execution, and leading resources both internal and external on effective real estate service solutions.
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(WASHINGTON, DC), Inc. announced that Ryan Clutter and Michael Blunt, two premier professionals in its US Investment Properties Institutional Group, relocated to Washington, DC to join CBRE's office investment sales team. Clutter, an executive vice president with CBRE, currently serves the disposition needs of institutional investors throughout the Carolinas. Blunt is a senior vice president on the Philadelphia investment sales team, and currently specializes in institutional investment properties located primarily in Pennsylvania, New Jersey, Delaware and Northern Maryland.
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NEWMARK GRUBB KNIGHT FRANK CAPITAL GROUP
(PHILADELPHIA) Michael Margolis, CPA, has joined the Philadelphia office as a senior managing director in the company's capital group. Margolis comes to Newmark Grubb Knight Frank from Professional Realty Advisors, where he served as president, investment sales for the past four years.
JONES LANG LASALLE
(LOS ANGELES) Jones Lang LaSalle today announced the hiring of Phil Friedl as a senior vice president, expanding the firm's project and development services (PDS) capabilities in Los Angeles. Prior to joining Jones Lang LaSalle, Friedl was principal and owner of FriedlUrbanFocus LLC where he provided project management, construction management and development services to developers and private equity investors.
KBS CAPITAL MARKETS GROUP
(NEWPORT BEACH, CA) KBS Capital Markets Group (KBS-CMG), an affiliate of KBS Capital Advisors and KBS Realty Advisors, has announced that Timothy Ledbetter has joined the company as regional vice president of the High Plains region, encompassing Colorado, Wyoming and Nebraska, a territory that has become increasingly important to the commercial real estate advisor. Ledbetter comes to KBS from Hartford Mutual Funds in Denver where he was an external wholesaler responsible for non-wire firms in northern Colorado.
(PHOENIX) Colliers International in Greater Phoenix has hired Colleen McPherson as vice president of healthcare services. McPherson has more than 12 years of experience in healthcare-related sales and leasing.
EASTERN UNION COMMERCIAL
(NEW YORK CITY) Eastern Union Commercial, a privately owned mortgage companies on a transaction volume basis, has hired Avi Pilchick as the company's chief operating officer, a new position within the firm. Pilchick most recently served as a senior executive with a successful, Pennsylvania-based real estate vendor, reporting directly to the CEO, with an emphasis on building out and running the customer service division.
(SAN JOSE, CA) UGL Services, a division of UGL Limited, announced the appointment of Douglas Sugimoto, formerly a senior vice president with Cornish & Carey Commercial Newmark Knight Frank.
SABAL FINANCIAL GROUP
(NEWPORT BEACH, CA) Sabal Financial Group, L.P., a privately held diversified financial services firm, has appointed Mark E. Foster as general counsel. Previously, Foster was vice president and senior counsel at the Rockefeller Group, where he was responsible for negotiating and finalizing transactions relative to the company's development, management and ownership operations.
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