King Kong IPO
New York City's Malkin family interests filed an S-11 with the SEC yesterday in anticipation of the Initial Public Offering of Empire State Realty Trust. This is notable on a number of fronts. The new office REIT will have one of the crown jewels in its portfolio, the venerable Empire State Building. Tony Malkin, CEO of the proposed REIT, has assembled a blue chip team of consultants and bankers to shepherd the company through an IPO in a challenging equity market. I am confident that Malkin will cross the finish line, but the company's major challenge will not be the capital markets or its real estate portfolio; instead, the challenge will be to construct a team that is prepared to address the rigors and dynamics of the public markets. The public markets are often a challenge for intensely private companies. Unlike the Malkins, who will cross the finish line well prepared, some forget that they did not close their financing the day of the IPO, but instead sold the company and transferred control.
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.
USAA REAL ESTATE CO.
Investor Reporting Analyst
(SAN ANTONIO) The analyst will provide analytical and technical support to the private equity group for investor reporting.
GENENTECH
Associate Director Space and Customer Management
(SAN FRANCISCO) The associate director will be responsible for ensuring the highest level of customer satisfaction is met while delivering appropriate space solutions to an array of office space customers.
CITY OF NEW YORK
Development Finance Associate
The New York City Housing Authority (NYCHA) is seeking real estate professional to join its Development Department as a Development Finance Associate to provide financial underwriting and structuring analysis for the Department's residential and mixed-use development transactions.
JONES LANG LASALLE
Manager, Occupancy Planning
(BOSTON) The manager provides a single point of contact for all occupancy planning account issues, as well as a platform to escalate geography-specific planning issues.
CLARION PARTNERS
Asset Management Analyst
(WASHINGTON, DC) The analyst prepares analyses of historic portfolio and property results against industry benchmarks useful in evaluating asset and portfolio performance.
NEW YORK CITY ECONOMIC DEVELOPMENT CORP
Vice President - Retail and Commercial Industry Asset Manager
(NEW YORK CITY) The manager will be responsible for asset management of assigned properties, including the City's retail and commercial assets and other NYCEDC-managed assets.
CUSHMAN & WAKEFIELD
Critical Systems Manager
(SHELTON, CT) The position will also manage a staff of engineers and report into the portfolio director with liaison to the CW property manager and critical systems director.
PIEDMONT OFFICE REALTY
Associate, Asset Management
(JOHNS CREEK, GA) The associate will ultimately, although not necessarily in the near-term, have direct property assignments.
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.
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CBRE
(HONOLULU) CBRE, Inc. today announced that Kim Lord was appointed to lead the firm's Hawaii region. As senior managing director, Lord will oversee the delivery of CBRE's comprehensive commercial real estate services platform, including brokerage, investment sales, asset services, debt & equity finance, project management and valuation.
MARCUS & MILLICHAP
(DALLAS) The board of directors of Marcus & Millichap Real Estate Investment Services promoted Tommy M. Lovell, III to associate vice president investments. Prior to his promotion, he was a senior associate.
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.
HFF
(FLORHAM PARK, NJ) HFF announced that Tom Graziano has joined the firm as a director in its New Jersey office. Graziano will focus on debt, structured finance and joint venture equity transactions for office, retail, multi-housing and industrial properties throughout the northeastern United States. Prior to joining HFF, Graziano was a vice president in the Loan Portfolio Strategies Group of Keefe, Bruyette & Woods, Inc. in New York.
LOEB & LOEB
(NEW YORK CITY) – Loeb & Loeb LLP announced today that Sara A. O'Toole has joined the firm's New York office as an associate in the real estate department. O'Toole joins Loeb & Loeb from Rosenberg & Estis, P.C., a New York boutique real estate law firm, where she was an associate in the transactional real estate group.
JACK JAFFA & ASSOCIATES
(NEW YORK CITY) Jack Jaffa & Associates has added two new associate attorneys to its staff, the company announced today. The firm proudly welcomes former Environmental Control Board Judge Linda March, and former Environmental Control Board prosecutor Dawn Falco.
ALLENSWORTH & PORTER
(AUSTIN, TX) Allensworth & Porter announced Sara Whittington May has joined the firm as an associate. Prior to joining Allensworth & Porter, May served as the staff attorney for the Texas Civil Justice League.
THE GROSSMAN COS.
(QUINCY, MA) Michael Olson has joined the brokerage team at The Grossman Companies, Inc. Olson, a resident of Boston who earned his degree in economics finance from Bentley University, started his career with OneBeacon Insurance where he assisted with the acquisition, financing, design, and build-out of the company's 280,000 square-foot headquarters in Canton, MA.
STAN JOHNSON COMPANIES
(CHICAGO) Stan Johnson Company named Andy Gatchell as associate director in its Chicago office. Prior to joining SJC, Gatchell was part of a market leading retail brokerage group in Kansas City with CBRE where he was selected as one of the company's 25 most promising junior retail brokers.
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