Industry Mourns Death of Multifamily's MVP

"Don Ostroff was an inspiration to this office, a mentor to all his team members and a good friend to his family at Cushman & Wakefield. A true soldier of God, Don will be greatly missed," Elizabeth Trocchio, executive managing director and regional manager for C&W's Dallas office, says in a prepared statement. "Our thoughts and prayers are with his wife, Carolyn, his four daughters and their families as well as his parents."

Ostroff, marking his 25th year in the business, underwent lengthy surgery Saturday for an aneurism after he collapsed while jogging. Professionally, he was recognized for his forthrightness in investment sales circles. In the past seven years, he has sold at least $2 billion of properties in the US for institutional powerhouses like Equity Residential Properties Trust, Archstone-Smith Trust, FirstWorthing Corp. and ING Clarion Partners.

Ostroff and former partner, Will Balthrope, now senior director for Marcus & Millichap Real Estate Investment Services, co-founded C&W's Multi-Housing Group after record-breaking consecutive years of investment sales from 1999 through 2002 at Grubb & Ellis Co. The power team split in 2006, but the long-time partners remained close friends.

"He was a brother to me, a mentor, a guiding light and one of the finest men of integrity that I've ever known," Balthrope tells GlobeSt.com. "I was lucky to have spent so much time working so closely with a person so outstanding. It's a real rarity in this business to find someone with the integrity and kindness of Don Ostroff."

Ostroff was considered to be the long-standing "MVP" of the region's multifamily industry, a top-ranked mentor and board member for local chapters of national real estate associations. "He really was a broker who wanted to do the right thing. He not only was a mentor to me, he was a good friend," says Lamont Rattler, who along with Jason Boyce were learning the ropes as the newest team under Ostroff's guidance.

Yesterday's news of Ostroff's death sent shockwaves throughout the industry. "Don was a competitor of mine, but he was a great guy and a kind man who was loved and who will be missed by those of us in the multifamily industry," says Tom Burns, associate partner in Dallas for Phoenix-based Hendricks & Partners.

Plans for services were still being finalized at press time. Tentatively, visitation has been scheduled for Wednesday evening at Sparkman Hillcrest Funeral Home at 7405 W. Northwest Hwy. in North Dallas and services at noon Thursday in the First Baptist Church of Dallas at 1707 San Jacinto St.