Re-Margining

The real estate industry is just now beginning to, sort of,recover after the great recession. On the heels of organizationalcutbacks of more than 20% across the board, and with a slow climbback, the general consensus is that, when all is said and done,there will be net fewer real estate jobs at the back end of therecovery than there were before all this began in 2008. I tend toagree, and there is one other thing to consider: compensationlevels have also been cut back. Employers across every sector aregrappling with how to address the new reality and yet remaincompetitive. In my view, the shakeout is going to be on theincentive compensation front. Bonus dollars are going to be harderto get and the total percentage of bonus to base salary will bereduced by at least 25%. That is, if a bonus program used toprovide for an annual bonus of up to 100% of base salary, in thenew paradigm, that percentage target is now 50%-75%. Long termincentives will be scaled back as well, and many employers arerewriting compensation plans to address this. It is going to takethe balance of this year and most of next year for the fullre-margining to take effect.

Tony LoPinto is a senior client partner and head ofKorn//Ferry International’s Real Estate Practice and founder ofSelectLeaders. The views expressed in this article are the author’sown.
JobOpportunities
SELECTLEADERS
Director of Real Estate
(NEW YORK CITY) The director will review of current operations,processes and procedures and recommendation of strategicinitiatives to improve efficiency, enhance revenue and propertyvalue; day-to-day operation and management of the physical plantwhich includes 21 pre-war buildings and miscellaneous office andclinic location leases; among other duties.

ING CLARION
Real Estate Research and Investment StrategyAnalyst
(NEW YORK CITY) The analyst will assist with the preparation ofmarket and submarket research reports across varied property types,geographic regions, and investment types for presentation toacquisition teams and Investment Committee; and prepare detailedstrategy reports, which analyze and recommend investmentstrategies, themes, allocations, rotations, techniques, sector andmarket plays, and timing; among other duties.

OXFORD CO.
Vice President, Operations
(ANN ARBOR, MI) The VP, operations will determine financial,business management, and marketing strategies as appropriate,establishing and achieving measurable business objectives for thethree companies; oversee and manage operations of each company inalignment with its established mission; and assist president indeveloping new business; among other duties.

SELECTLEADERS
President
(MID-ATLANTIC REGION, VA) The president will play a key role inrepresenting, and integrating the east region with the otherregions of the company; implement and direct professionaldevelopment and leadership programs to recruit, motivate and retaintop brokers, service line professionals, and staff to achievegrowth and maximize revenue goals; and help increase the visibilityof the company in the region with community and business leaders,representing the company at relevant events, and networking withkey decision-makers in support of the brokers' business developmentefforts; among other duties.
SHORENSTEIN REALTY SERVICES L.P.
General Manager
(SAN FRANCISCO, CA) The general manager will provide leadershipand direction to and effectively manage relationships with otherbusiness groups to ensure a high level of tenant service andachievement of company and property goals and objectives; developand maintain an effective ongoing tenant relations plan, implementinitiatives, and maintain an operating environment to achieve asatisfactory level of tenant service as measured by formal andinformal feedback and surveys; develop and submit complete andaccurate annual budget(s), meeting all deadlines and demonstratingthorough analysis and consideration for the goals of the asset aswell as market conditions; among other duties.

COLE REAL ESTATE INVESTMENTS
Director, Asset Management/Dispositions
(PHOENIX) The director will be responsible for achieving the bestoutcome for our investors by maximizing the financial performancefor a portfolio of real estate assets located throughout thecontinental US; maximize total return for each assigned assetthrough the analysis of property efficiencies and identifyingopportunities for improved performance and/or re-development; andwork closely with property managers and leasing team to providedirection for and oversight of business plans, budgets, forecasts,leases, analysis and approvals; among other duties.

COLLIERS INTERNATIONAL
Managing Director Sacramento/Roseville
(SACRAMENTO) The managing director will provide leadership,working in conjunction with the operations manager and office salesprofessionals, for the bottom line profitability of the office,which includes: managing the business to an annual plan, withclearly stated and goals and objectives; and ensuring a return of15% of revenue before any corporate overhead allocations; amongother duties.

AVALONBAY COMMUNITIES
Senior Risk Analyst
(ARLINGTON, VA) The senior risk analyst will assist in the annualinsurance renewal process by compiling underwriting submissions,reviewing and analyzing quotes and developing premium allocations;review all documentation to ensure all policies are beingadministered in an accurate fashion; and prepare the annual budgetof premium and loss allocations for all existing properties; updateand prepare variance analysis as requested; among otherduties.
PromotionsNo more than one submission per company will be considered perweek.
Submissions with multiple names will be capped at three forcoverage in Executive Watch.

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KEYSTONPACIFIC PROPERTY MANAGEMENT
(IRVINE, CA) Keystone Pacific Property Management is promotingJacade Hickman from general ledger associate to accounts payablesupervisor at the Irvine office.
WRIGHTWOOD CAPITAL HIGH YIELD PARTNERSFUND II
(CHICAGO) Wrightwood Capital is promoting Dan Hartman to theirfund management team as senior regional director of the High YieldPartners Fund II for the Northeast and Midatlantic states.
NewHiresNo more than one submission per company will be considered perweek.
Submissions with multiple names will be capped at three forcoverage in Executive Watch.
KBS REALTY ADVISORS
(NEWPORT BEACH, CA) KBS Realty Advisors is hiring Lee Bastidas asvice president of National Accounts and Nick Rosenthal as regionalVP, both for the KBS Capital Markets Group.

AVISON YOUNG ONTARIO
(TORONTO) Avison Young is hiring Gord Cowan as vice president andStephen Yu as retail specialist, both in the Toronto North office,and Darren Clare as senior retail consultant in the company’sOttawa office. All three real estate professionals were formerlywith DTZ Barnicke in Ontario.
SPERRYVAN NESS LLC
(CHICAGO) Sperry Van Ness is hiring Scott Good as an advisorassociate.

MARCUS & MILLICHAP CAPITAL CORP.
(SALT LAKE CITY) Marcus & Millichap Capital Corp. is hiringJeffrey Meierhofer as an associate director in the firm’s Salt LakeCity office. Prior to joining MMCC, Meierhofer was the presidentand owner of the Madison Group.

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Anthony J. LoPinto

Tony LoPinto is the Global Sector Leader of Korn Ferry’s Real Estate Practice and founder of SelectLeaders. For the past 18 years LoPinto has been serving his clients with deep knowledge and perspective on talent needs and organizational challenges to public and private companies – knowledge gained from a 25-year career in real estate. Prior to his current position, he founded and served as chief executive officer of a boutique real estate executive search firm, where he oversaw offices in New York, Chicago, Washington, DC, San Francisco and Los Angeles. He has successfully led several high profile search engagements for chief executive officers, directors and a wide-range of executive level positions across all industries and sectors. He earned a Bachelor of Arts degree in European history from Loyola University in Chicago.