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Joseph Ori, executive managing director of Paramount Capital Corp. Joseph Ori, executive managing director of Paramount Capital Corp.

The booming CRE industry during the last five years has been great for investors and sponsors but has created a shortage of C-suite experienced leaders and junior level employees. CRE is a $7 trillion business in the U.S. and it must do a better job of creating, enabling and training a more agile and engaged workforce. It must also allow for a new wave of leadership in the industry as many of the Baby Boomer founders of REITs, private equity firms and institutional investors are over the age of 75 and will retire in mass in the next few years. CRE companies need to increase efforts to groom senior level personnel to take over the reins of these firms and also attract next-generation talent. These efforts should concentrate on retraining existing talent, recruiting junior level employees right out of college and diversifying senior leadership along with advisory and corporate boards.

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