New Ways for CRE Women to Advance

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ORANGE COUNTY, CA—Where are the untapped opportunities for women to make strides in commercial real estate? GlobeSt.com spoke exclusively with several executive board members from Commercial Real Estate Women—Orange County, a professional organization providing its members with a network to strengthen and extend business relationships and form valuable personal contacts, in order to get their feedback on this burning question. Here's what they told us.

(CREW-OC will be hosting its annual summer party on August 18, just after RealShare Orange County, at the Balboa Yacht Club in Corona Del Mar, CA; click here to buy tickets. Through the event, CREW-OC will continue to raise awareness and money for WisePlace, a women's shelter in Orange County.)

Angela Kralovec, VP, BlackRock and president of CREW-OC: The good news is that opportunities for women in commercial real estate are bountiful. The industry is recognizing women and the contribution they bring to various sectors of our business. Untapped opportunities continue to emerge in brokerage, development, construction and finance. As women continue to pursue careers in these sectors, we will see the industry continue to change for the better.

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Jennifer Bojorquez, Esq., Troutman Sanders LLP and CREW-OC programs director: I'd like to see more women in real estate development and fund investment. While women have made significant progress in finance in the past several years, it is still rare to encounter women in these two areas. We can make these in-roads by providing good mentors to young women and encouraging them to take commercial real estate and entrepreneur-oriented classes in school.

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Kristen Croxton, SVP originations, Capital One Multifamily Finance and CREW-OC treasurer: The opportunities for women to make strides in commercial real estate are vast, and they vary depending on the discipline. In sectors such as finance/banking and law, many of the larger corporations have created initiatives with the goal of promoting female associates into higher-ranking roles—especially in the C-suite. This creates an excellent work environment for women, enabling them to work hard and be appropriately rewarded. In general, building relationships and networking with other successful women in the industry provides great opportunities for women to create successful partnerships, find their next job and make them better resources for their clients. Organizations like CREW-OC create an environment where all of these things can happen.

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Francesca A.S. Braniger, VP, Sunwest Bank and CREW-OC president-elect: As women continue to expand their reach in the commercial real estate industry, another untapped opportunity is innovative networking. Rather than targeting the same companies that all others in the industry are courting, women in commercial real estate can take the opportunity to make new connections while acting as consumers. I always ask who owns a property/development/store/etc. when shopping or using local services, and often these questions deliver strong leads for my business. The fact is, commercial real estate owners and executives like doing business with people who patronize their establishments.

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Suzanne E. Skov, Esq., Daspin & Aument LLP and CREW-OC sponsorship director: As a commercial real estate attorney, my deals often include smart and accomplished women lawyers, escrow officers, title officers and finance executives. That said, I believe there is an opportunity to increase the number of women who work as brokers and C-suite-level executives. I have found that organizations like CREW-OC can play a vital role in attracting and retaining women who will excel in our industry by providing education, support and opportunities for career advancement.