This election has been an extraordinarily long and frustrating journey, but the good news is that after 24 months on the campaign trail it will happen today and the hourly polls will be over. From a real estate industry perspective, the result will frankly not matter much because the forces are already marshaled to attack the tax code, and it appears likely that we are headed toward an increase in the capital gains tax, regardless of whether the winner is Obama or Romney is likely to occur. This is a sad time when capital investment is under attack because investment in growth, be it a small business, an office building or capital improvements to an urban apartment building, is what makes our business tick. The foundation of real estate is small businesses with 80% of real estate companies employing 15 or fewer professionals. We can only hope that a divided Congress will produce common sense into the process, but that's probably too much to ask for.
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.
DIVIDEND CAPITAL DIVERSIFIED FUND
(DENVER) The position will be responsible for coordinating a variety of special projects and providing operational support to the chief operating officer and effectively communicating with internal and external personnel, stakeholders, vendors and consultants. Specific duties include assisting with general inquiries regarding operations, asset management, accounting services, lease services, or billing services; preparing management reports defining and evaluating problems and recommending solutions; developing information to assist the chief executive officer or other key management members with decision making, policy formulation, or other managerial functions; and preparing the quarterly asset management booklet and ensuring a high degree of data quality.
CUSHMAN & WAKEFIELD
Senior Brokerage Coordinator
(IRVINE, CA) The position will provide superior marketing, research and administrative support critical to the overall success of a brokerage team. In addition, this position will support brokers in the representation of clients in the underwriting, performance of due diligence, packaging and marketing of properties. Specific duties include preparing market surveys; organizing transaction documents, including confidentiality agreements, leases, contracts, listings, closing documents, etc; handling client contact, including database management; discussing vacancies/rates with clients, cooperating brokers, and prospective tenants; and showing property when needed, fielding marketing calls, coordinating property tours and packages.
REAL CAPITAL SOLUTIONS
Multi-Family Asset Manager
(LOUISVILLE, CO) Responsibilities include, but are not limited to: aggressively implementing strategies to increase revenue and decrease operating costs; preparing summary analysis in support of recommended strategies which includes repositioning; conducting site tours and overseeing third party management teams; monitoring performance against original underwriting and budget; updating market comps (to include rental rates, concessions, loss leaders, etc.) on a bi-monthly basis and other economic data; conducting recurring monthly meetings with third party management teams; updating operational status reports; and strategizing on capital improvement projects.
Investment Analyst - Senior Housing Lending
(BOSTON) The Boston office of Prudential Mortgage Capital Company is actively seeking a bright and highly-motivated, graduate from a top undergraduate program to join their team as an investment analyst. The senior housing lending team will be responsible for the origination, underwriting and closing of senior housing loans for PMCC's various capital sources, including Fannie, Freddie, FHA and on behalf of Prudential's general account. The successful candidate will play an important and integral role on the team. Bachelor's degree required, preferably from a top undergraduate business, real estate, or related program.
BERKSHIRE PROPERTY ADVISORS
(SAN FRANCISCO) The district manager will be accountable for all property operations for the properties within their district. Primary responsibilities include effectively managing and coordinating persons, activities and available resources in order to accomplish property objectives as set forth by the regional vice president and company. These objectives will include maximizing occupancy levels and property values. Specific duties include daily operations, leadership, and staff management of assigned properties; supporting property managers with specific coaching, development and guidance in order that the annual property objectives are met; and working with the regional manager/AVP/RVP/DVP to complete annual budgets, monthly/quarterly forecasts, marketing plans, staffing plans and capital plans.
Wealth Management Advisor
(MELVILLE, NY) The wealth management advisor will serve as TIAA-CREF's primary point of contact for high net worth and affluent clients; manage and develop an assigned book of business of 400 to 600 individual high net worth ($500,000 to $2 million plus) client relationships across TIAA-CREF's products and services; assume responsibility for growing the book of business through identifying value added products and services for clients, identifying and acquiring client assets held outside of TIAA-CREF and developing additional business through client referrals; and building client relationships pre and post retirement through a distinctive experience that leverages the unique value proposition of the wealth management group's business.
JONES LANG LASALLE
Senior Vice President
(ATLANTA) JLL is seeking a senior vice president to lead an important client account relationship within their development asset strategy team in Atlanta. This is an excellent opportunity for a motivated leader possessing strong analytical and reporting skills, business acumen, and the ability to engage constructively with a broad range of people and personalities. The selected individual will lead a team of transaction managers dedicated to land sales within the timber industry. The portfolio is spread across 15 states in the Southeast, Northeast, Midwest and Pacific Northwest. In any given year, this team will manage between 150 and 250 closings of rural land parcels.
Senior Real Estate Portfolio Manager
(MOUNTAIN VIEW, CA) The real estate portfolio manager will act as the face of the real estate facilities organization to his/her geographic area being accountable for the full cycle of the assets (plan, design, build and operate). This individual will partner with the business groups, finance and other business partners to understand business requirements and common goals for REF business and operations plans alignment to ensure successful execution that will translate into measurable year-over-year improvements in business client engagement, satisfaction, efficiency and effectiveness. Key responsibilities include developing a multi-year plan for the assigned real estate portfolio, including strategy, business, financial and operational planning in alignment with the REF area goals and client strategy; and engaging with area and site leaders and/or management teams as the REF point of contact and accountability for the assigned area sites.
No more than one submission per company will be considered per week.
Submissions with multiple names will be capped at three for coverage in Executive Watch.
(DALLAS) DAVACO, Inc., a provider of turnkey implementation solutions for national brands, recently announced that Tim Currier has been promoted to vice president of business development. In this role, Currier is responsible for identifying new business opportunities and building strategic partnerships with nationwide retail, restaurant and hospitality brands. He has held a variety of positions at DAVACO, including field manager, project manager, director of operations and, most recently, vice president of operations for the restaurant division.
MARCUS & MILLICHAP
(HOUSTON) Marcus & Millichap Real Estate Investment Services has hired Derek Hargrove as a senior associate in the Houston office. Prior to joining Marcus & Millichap, Hargrove worked at UCR Moody Rambin PAGE where he represented clients in their leasing and disposition of multi-tenant retail properties.
(BOSTON) CBRE Group, Inc.'s Capital Markets group announced the addition of three senior credit professionals to its Fannie Mae DUS (Delegated Underwriting & Servicing) lending unit, CBRE Multifamily Capital, establishing a West Coast credit team in Newport Beach, CA. The team will be led by Jeff McVehil, who was previously the chief underwriter for Berkley Point Capital. Two senior underwriters join Jeff as part of the new West Coast team: Victoria Khoury and Kellie Kaiser, also both from Berkeley Point.
(MARLTON, NJ) Construction-risk management firm Hill International announced that Wendy A. MacLaughlin has joined the company's subsidiary McLachlan Lister as a vice president in its Brisbane, Australia office. Prior to joining Hill, she was a Partner with the consulting firm Accuracy and before that was a Managing Director with Navigant Consulting.
NAI TAMPA BAY
(SEMINOLE, FL) Chuch Bohac will assume the role as Industrial Vice President and will be based out of NAI's corporate headquarters in Seminole. Bohac was previously an industrial broker with Grubb & Ellis. Max Boehmer was hired as a new sales associate to the NAI team. He is a Tampa native whose experience in the mortgage industry has exposed to transaction volume in excess of $500 million over the last 10 years.
CAVIGNAC & ASSOCIATES
(SAN DIEGO) Myisha Newton has returned from Texas and rejoined Cavignac & Associates a San Diego risk management and insurance brokerage firm as account administrator. While in Houston, Newton gained three more years of insurance industry experience serving as an account manager for Brady, Chapman, Holland & Associates, a full-service insurance firm.
(CHICAGO) Sierra U.S. announces that industry veteran Bryant Siragusa has joined the firm as executive vice president. Siragusa will be bringing his expertise to the National Leasing and Tenant Representation Team. Siragusa most recently served as the national director of restaurants and entertainment with CBL properties where he was responsible for the restaurant leasing for 163 properties including 89 regional malls.