Millennial Reality

Over the past 10 years we have been barraged by news of the millennial generation who are charting a new course with different values impacting housing, retailing, the workplace, social mores, and a host of other ways that are changing society. Well, the Wall Street Journal yesterday popped a hole in the balloon reporting in a front page article that millennials are amazingly approaching middle age and are in worse financial shape than every other generation before and after.

According to the WSJ, they have less wealth, less property, lower marriage rates and fewer children. The financial crisis was a significant influence in dampening millennials early career opportunities, coupled with other shifts in the economy that changed the game.

There is a bright spot however. Millennials are entering their prime earning years as baby-boomer go off into the sunset and retire. That should fuel demand and provide an opportunity for millennials to reset financially. However, it will be interesting to observe how millennials balance their fresh idealism with economic reality.

Job Listings

REALTY INCOME CORPORATION Director of Asset Management (SAN DIEGO, CA) The Director, Asset Management will execute property-level commercial renewal, leasing, and disposition strategy in accordance with portfolio goals and objectives. Position will negotiate renewals for non-credit tenant portfolio, new leases, and sale transactions to optimize the value of real estate properties within Realty Income’s portfolio.  

GREYSTAR Global Development Associate (CHARLESTON, SC) Associate will support the execution of Greystar’s international development platform by assisting international development teams, managing critical development oversight processes, and contributing to the continual improvement of Greystar’s international development platform.  

METLIFE REAL ESTATE INVESTMENTS Associate-Asset Manager (WASHINGTON, DC) Manager will be responsible for providing oversight and analytical support to senior staff in leasing, property management, construction management, client reporting, valuation and overall accounting for a defined portfolio of commercial investment properties.  

LOTUS CAPITAL PARTNERS Execution Banker (VP/Director/MD Level) (NEW YORK, NY) Position will focus on executing structured debt placement mandates. Candidate will work closely with the Managing Partner as a right-hand person to help win and co-lead the execution of debt, mezzanine, and equity financing mandates on large and complex capitalizations in the United States, Europe, and the Caribbean.  

LANTOWER RESIDENTIAL Multifamily Development Associate (TAMPA, FL) Associate will support all phases of the development process including land acquisition, due diligence, securing necessary approvals/entitlements and oversight of projects during construction and lease-up; ensuring accuracy of all deliverables relating to active or planned developments; and maintaining pro forma projections for development opportunities.  

ZIFF PROPERTIES, INC. Commercial Real Estate Project Manager (CHARLESTON, SC) Project Manager will coordinate, manage and track development projects of multiple self-storage and light industrial developments throughout the southeast. In addition, the position will be responsible for the timely, quality and on-budget completion of all design, permitting and construction activities.  

CRESCENT COMMUNITIES Director – Asset and Acquisitions (Commercial and Mixed Use) (CHARLOTTE, NC) Reporting to the Vice President, Development, position will be responsible for all aspects of Asset Management, including acquisitions and dispositions, through financial modeling, lease administration, market research, and analysis support to Crescent’s portfolio of commercial/mixed use communities to ensure implementation of approved business plan(s).  

AMERICAN ASIANS FOR EQUALITY (AAFE) Director of Real Estate Development (NEW YORK, NY) Duties include: providing day-to-day leadership to the ongoing management and operations of AAFE’s entire Real Estate portfolio consisting of real estate development, rehabilitation and asset management. Successful incumbent will apply significant experience in underwriting affordable housing and in securing Federal, State and local financing, preferably in New York State, City and its Boroughs.  

MORGAN STANLEY Mesa West Senior Asset Manager (LOS ANGELES, CA) Individual will be a senior member of the Asset Management team which is housed out of the Los Angeles office and manages transactions originated from all office locations. Position will ultimately manage a specified portfolio across several regions and be actively involved in all facets of asset management, including monitoring, reporting, restructuring and modifying existing loans in the portfolio.  

CORNELL UNIVERSITY Real Estate Associate (ITHACA, NY) Responsibilities include: managing and administering services to the University colleges and departments for all aspects of real estate; researching, negotiating, writing agreements, and obtaining necessary University approvals for residential, office, and commercial space for University users; and supporting Senior and Associate Directors of Real Estate with research, marketing, and various other projects.