Executive Watch

Perspective

Jonathan A. Schein - President & CEO - Real Estate Media - GlobeSt.com3/7/06:Blackstone's planned acquisition of REIT CarrAmerica, as reported early yesterday on GlobeSt.com, may be an omen of things to come.  Blackstone has been insatiable in its appetite for quality real estate assets.  However, this is the second REIT in the past few months to be acquired and taken private.  There are two basic rationales that fuel this privatization trend.  First, there’s the ongoing abundance of private money and the dearth of  places to park it.  Second, there’s the specter of Sarbanes-Oxley, which has made the public-equities market a costly nightmare of accountability—the muddled thinking of an overzealous legislature responding to the actions of a very small part of the business community. The result has been to transform what was once a terrific field in which to raise capital into an onerous business environment.  Rest assured, as more corporations choose the private route, those same legislators will be hard at work crafting new ways to regulate them as well.

The views expressed in this article are the author's own.
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Promotions
 

IDI
(ATLANTA) Linda Booker is named vice president and CFO. As a 10-year veteran of the firm's ranks, she most recently was vice president and controller.
 

NEWMARK KNIGHT FRANK
(SAN FRANCISCO) William Benton, Michael Brown and Quentin Knights are named principals. Four years ago, the trio of managi
New Hires
 

NEWMARK KNIGHT FRANK
(WASHINGTON, DC) Earl L. Segal, an attorney with more than 30 years' experience in real estate law, has joined the Newmark Knight Frank team to launch a new career in specialty practices like law firm and not-for-profit advisory services, corporate accounts and investment sales. Segal, ending two decades as a partner in Akin Gump Strauss Hauer & Feld LLP, also will help to develop other global specialty practices, including hospitality.
 

SPERRY VAN NESS
(BRADENTON, FL) Anthony Mazzucca plants a flag in Central Florida as a Sperry Van Ness senior adviser. He will be assisted by Cynthia Hoffman, who was named associate adviser for the office's roll-out at 10540 Portal Crossing. Mazzucca previously was president of the Blackpoint Group.
 

RLS
(HARTFORD, CT) David Scruggs is named CFO. He replaces founding principal Doug Powell, who's been CFO since 1989 of the seniors' housing development and management firm. Scruggs previously was CFO for a multi-site, continuing-care retirement sponsor.
 

NAI HORIZON
(PHOENIX) Cliff Denton becomes senior vice president, tasked with leading the office property group.
 

INTRACORP SAN FRANCISCO
(SAN FRANCISCO) Michael McCone starts as vice president of development, assuming the lead role for entitlement, design and construction of projects like the 268-unit Arterra. He most recently was with the Rosenberg Co.
Job Opportunities
   
Title Description

FANNIE MAE

(WASHINGTON DC)

Sr. Product Developer

The senior product developer is part of the single-family mortgage business and product development team. She or he will lead the day-to-day activities of projects assigned and development/enhancement of products/initiatives.

METLIFE REAL ESTATE INVESTMENTS

(CALIFORNIA)

Loan Analyst

Responsibilities include assistance on loan closings; tenant estoppel and subordination agreement reviews, preparing lease abstracts and lease reviews. Requirements include three or more years of experience and a related undergraduate degree.

ING CLARION PARTNERS

(WASHINGTON)

VP Senior Associate – Acquisitions

Work as part of the acquisition investment team to execute the investment program for ING Clarion’s real estate investment advisory business. Functions include sourcing, underwriting, evaluating, structuring, documenting and closing private equity investments for primarily institutional capital sources.

EQUITY OFFICE PROPERTIES

(CALIFORNIA)

Marketing & Leasing Coordinator

Execute the local regional broker and asset marketing efforts of Equity Office. A bachelor’s degree and four to seven years of experience is required. The ideal candidate will have strong project management, analysis and writing skills, as well as a proven track record of success collaborating with diverse teams.

WELLS REAL ESTATE FUNDS INC.

(GEORGIA)

Asset Analyst

The purpose of the asset analyst position is to support the asset management activities of the director and investment officer(s) in the region. It is envisioned that the analyst will have a few direct property assignments.

HYATT CLASSIC RESIDENCE

(ILLINOIS)

Senior Vice President of Development

Successful candidates will possess a bachelor's degree, with a minimum of 15 years of successful executive experience in the management of multi-site, national real estate development and construction projects in excess of $100 million.  

SELECTLEADERS

(NEW JERSEY)

Project Executive and Chief Administrative Officer

Our client has been named the master developer of a 56-acre waterfront redevelopment project in New Jersey. The project executive will be responsible for overseeing the entire project, including construction management, legal, professional engineering, finance and retail leasing.

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