Too Much Cash- 06.29.2010
Last week both the Wall Street Journal and New YorkTimes ran articles about the piles of capital that has builtup in the coffers of private equity shops, a record $280 billion tobe exact for US-based buyout firms. Most of the cash had afive-year string on it, and for some the deadline to invest is fastapproaching. The conundrum the private equity guys have is that ifthey have to hand it back, raising new capital isn’t so easyanymore. So as they scramble for investments, what’s on everyone’smind is the specter of the firms lowering the bar on the quality ofinvestments they make to put the cash to work. Closer to home, thestory is the same, if not more extreme on the real estate front.The lack of action is deafening and it appears that most investorsare going back to the beach this summer to wait it out and hope fortransactional activity to emerge in the 4th quarter. Clearly thisis going to be a slow and steady return to the “new normal,” andthe full impact on real estate organizations is still unclear.Don’t forget the coconut oil.

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.

COSTAR GROUP
Senior Sales Representative
(CHICAGO) The representative will position the company as thepremier source for independent, commercial real estate research,advisory, and risk management services; achieve targeted monthlyand annual sales and revenue quotas; and work closely with PPR’sresearch team to create and close revenue-generating opportunities;among other duties.

ING CLARION
Associate – Defined Contribution, Marketing & ProductDevelopment
(NEW YORK CITY) The associate will launch Clarion Property Trustand the Lion Diversified RE Fund as well as other strategic newbusiness initiatives; prepare ad-hoc reports, models and analysisfor senior management; and provide detailed product knowledge andsupport for sales teams; among other duties

CB RICHARD ELLIS
Sr. Transaction Manager
(SAN FRANCISCO) The senior manager will provide real estatetransactions services to customer(s) with focus on effectivemanagement of real estate functions, contracts and negotiations andall transaction services required of CBRE under the agreement withthe customer(s); effectively manage a large volume of transactionsrelated to GCS business line; and assist in defining CBREcustomer(s) real estate requirements; among other duties.

GLOBAL FUND INVESTMENTS
Retail Property Staff Accountant
(MIAMI BEACH, FL) The staff accountant will oversee dailybookkeeping of a designated portfolio of community and neighborhoodshopping centers; monthly closing and preparation of reportingpackages on designated portfolio; and perform annual budgetingduties for designated portfolio; among other duties.

LUCESCU REALTY
VP – Finance and Capital Markets
(NEWPORT BEACH, CA) The VP will interface with Lucescu Realtyclients when obtaining debt and equity financing; act as a primarypoint of contact and relationship manager; and remain abreast offluctuations in the capital markets and submarket activity; amongother duties.

INVESCO REAL ESTATE
Investment Analyst
(DALLAS) The analyst will be responsible for supporting thecommercial real estate mortgage and structured finance team's noteacquisition, loan origination and debt restructuring efforts; amongother duties.

HEITMAN
Compliance Officer
(CHICAGO) The compliance officer will administer the publicsecurities compliance programs to ensure compliance processes andprocedures are integrated and aligned with business processes;evaluate and review existing programs, policies and proceduresbased upon changed requirements; and review marketing materials,advertising, disclosures, notices, compliance related regulatoryreports and forms for compliance with rules and regulations, andmaintains a database of approved materials for use in presentationsand client meetings; among other duties.

COHEN & STEERS
Research Associate
(NEW YORK CITY) The associate will update and maintain proprietarydatabase of analyst estimates for each security within coverageuniverse; run daily valuation models after the market close toassist the investment team in analyzing relative value; assistanalysts with macro-level sector research and individual securityanalysis, including updating earnings (FFO) and net asset valuemodels; among other duties.

No more than one submission per company will be considered perweek.
Submissions with multiple names will be capped at three forcoverage in Executive Watch.

CUSHMAN & WAKEFIELD
(EAST RUTHERFORD, NJ) Cushman & Wakefield is promoting JonMarks to senior director and Miles Loo, Jr. to managing director inthe New York office.

HALSTEAD PROPERTY
(STAMFORD, CT) Halstead Property is promoting Marjorie Carano fromsales manager to director of sales.

No more than one submission per company will be considered perweek.
Submissions with multiple names will be capped at three forcoverage in Executive Watch.

EASTERN CONSOLIDATED
(NEW YORK CITY) Eastern Consolidated is hiring Marion Jones Pavoneas director. Pavone previously was the founder and principal of NewDoric Advisory Services, LLC.

A10 CAPITAL
(CHICAGO) A10 Capital is hiring Greg Cazel to head up the Midwestmarkets for the firm. Greg most recently was the Midwest RegionalDirector for a Jones Lang LasSalle and Real Estate Disposition(REDC) joint venture.

SIERRA REALTY CORP.
(NEW YORK CITY) Sierra Realty is hiring Gary Zaid as senior vicepresident of residential property management. Prior to joiningSierra, Zaid served as owner’s representative at A. S. RealtyPartners.

JONES LANG LASALLE
(CHICAGO) Jones Lang LaSalle is hiring Lyle Patterson as seniorvice president. Patterson joins Jones Lang LaSalle from RomanekProperties, Ltd. where he was director of acquisitions.

TCN WORLDWIDE
(DES MOINES) TCN Worldwide is hiring Bill Wright as the centralregional vice president.

THE RICHLAND COS.
(HOUSTON) The Richland Cos. is hiring Lisa Spalding, Jay Potikasameand John R. Ray III. Spalding is joining the San Antonio leasingteam, Potikasame will serve as a Houston-based tenantrepresentative and Ray will handle asset & property managementfrom the Houston headquarters.

FRANKLIN STREET FINANCIAL PARTNERS
(TAMPA) Franklin Street is hiring Wes Amick as a partner and willlead the company's private client group.

THE SPECTOR GROUP
(NEW YORK CITY) The Spector Group is hiring Gary Rudoren to ProjectManager. Rudoren, 47, will report directly to Spector PrincipalScott Spector, AIA. Rudoren joins Spector after nearly two decadesas a senior principal at Hartshorne Plunkard Architecture (HPA) inChicago