CRE's Best Bosses 2018: The Spark Plugs
Call it determination, charisma, ambition or simple chutzpa—these individuals make things happen against all odds. It’s little wonder then, that they’re among the most enterprising leaders on this year’s list.
Call it determination, charisma, ambition or simple chutzpa—these individuals make things happen against all odds. It’s little wonder then, that they’re among the most enterprising leaders on this year’s list.
Ari Firoozabadi, The Man of Action
Ari Firoozabadi, founded Greysteel in 2012, leaving a very successful and lucrative position at one of the world’s largest brokerages. As a broker, his very livelihood was directly tied to business he could directly secure, thus making the decision to venture out on his own company both financially and professionally precarious.
But he made the move because he believed there was a better way to conduct business in commercial real estate. Firoozabadi wanted to build a healthy, sustainable culture that was collaborative rather than divisive. Specifically, he recognized that his clients would be better served on a platform where multiple brokers weren’t going after the same business, but instead had dedicated territories and a centralized information sharing system that fostered cross-selling opportunities and transparency. These were foreign concepts for most large commercial real estate brokerages.
As an immigrant, Firoozabadi was drawn to the commercial real estate industry because he viewed it as the ultimate meritocracy and a place where driven, dedicated professionals can make a lasting impact. And an impact he has made. Many at Greysteel describe the president and CEO as a great leader with incredible intellect. One employee stated, “I’ve worked with some very talented, charismatic or hard working people before but it is very rare to find all three in the same person. Ari leads through example and inspires everyone to do their best every day.”
Community involvement is also an area that he is passionate about, giving generously with both his time and his money. Both Firoozabadi and Greysteel actively support multiple charities throughout the US, including So Others Might Eat, Juvenile Diabetes Research Foundation, St. Jude Children’s Cancer Research, Dreams for Kids DC, Meals on Wheels, Washington Humane Society, Capital Area Food Bank, the Associated and the North Texas Food Bank.
Brian Good, The Innovator
When Brian Good founded iBorrow, a dedicated lender specializing in private loans for commercial properties, he had a plan in mind: iBorrow (formerly Eagle Group Finance) would provide first trust deed loans collateralized by bank-worthy commercial real estate.
The point was to fill a void created by traditional banks’ reticence or inability to provide certain types of lending to certain types of borrowers. Specifically, iBorrow is a direct lender that provides non-recourse, short-term bridge financing to commercial and multifamily property owners nationwide. The company recently put this strategy to work, closing on more than $38 million worth of loans to a collection of assisted living facilities in California.
Good’s gift for innovation is also apparent in iBorrow’s investment activities. The iBorrow fund is structured to provide its investors with several protections, including an in-depth process to evaluate and determine the value of a property. These are just a few examples of Good’s ability to innovate.
Of course, he’s no stranger to real estate or technology. A former real estate lawyer and property owner, Good has carved out a career structuring complex deals quickly while adhering to a high standard of ethics and due diligence.
Prior to iBorrow, Good was a real estate transactional attorney at TroyGould and Kulik, Gottesman & Mouton. He has been president and board member of TenantDirect.com. In 2001 he founded Eagle Group LLC, a fully-integrated real estate company. The following year he branched off to create iBorrow.
Scott Martin, The Warrior
A few years ago when Houston’s commercial real estate market soured with the drop in oil and gas prices, Scott Martin, executive managing director for Granite Properties, powered the company through the local downturn. Today Granite is highly competitive in the Houston market with a number of its buildings almost fully leased, even as the city continues to struggle with negative absorption.
But a more compelling reason for Martin’s title of “The Warrior” happened at the stroke of midnight on April 3, 2017, when Martin experienced sudden cardiac arrest. His wife Kathy awoke after hearing a noise and immediately began CPR, continuing for 10 minutes until the EMS arrived. It took the EMS an additional 18 minutes of chest compressions and two shocks to get a pulse. After coding again in the operating room, doctors placed Martin in a drug-induced coma for 48 hours, warning his family that if he survived he would require long-term physical and mental therapy. They expected Martin wouldn’t regain consciousness for at least two to three days.
Approximately 30 minutes later, Martin woke as friends and family prayed around him, prompting doctors and nurses to dub him “The Miracle Man.”
Ever the fighter, Martin was back in the office shortly after his recovery, leading Granite’s Houston team as well as the Dallas, Atlanta, Denver and Southern California offices. The company and its employees welcomed back their highly valued leader with great enthusiasm. “Scott has proven to be a force within the industry; a caring leader who walks his talks,” says one senior manager.
The guy is non-stop and an unbelievable example of loyalty, perseverance and friendship,” says senior leasing director Steve West, who’s worked with Martin for some 35 years. “He’s one of the most caring and beloved people I’ve ever had the pleasure of knowing.”
His perseverance serves as an inspiration to everyone at Granite, which decided to install AEDs in all of their properties after Martin’s incident. And further illustrating how his genuine nature extends to both his personal and professional lives, Martin’s son shares the best advice he ever got from his father: “Martins never give up, and your word is your greatest asset.”
Camille Renshaw, The Catalyst
Camille Renshaw, founder and CEO of Brokers+Engineers, is someone who makes things happen. Prior to working for the technology platform created specifically for trading NNN property, she was head of sales at Ten-X and prior to that, she founded Stan Johnson Co.’s New York office, where she led their sales team as its top producer for five years.
Her staff considers her more than just a catalyst, though, saying that she is thoughtful and so willing to share experience and educate. “She has a great balance of boss and friend. Always has a smile on her face and her positivity and passion really energizes the office,” said one employee, with another one adding that she “inspires loyalty, enthusiasm, and deep faith.”
After two decades of pricing deals for clients through a combination of weak third-party data and manual work by analysts, Renshaw broke new ground with the creation of Brokers+Engineers’ pricing regression algorithm. The new innovation allows analysts to better price net lease transactions and more accurately predict real estate market behavior.
In addition, through the use of artificial intelligence and a proprietary process at Brokers+Engineers, she created an easier, more efficient means for aiding 1031 exchangers through the buying process. B+E clears the national real estate market, providing buyers with comprehensive access to on-market properties that match their buying criteria.
Renshaw’s philosophy in all her startups has been speed, simplicity and empowerment, building high-performance teams that strive in this environment. The underpinning to this is to avoid “paralysis through analysis” in the strategy execution stage, finding balance between details and action, but always focusing on sprinting to the goal line with a sense of urgency.