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Executive Watch 11-19-03

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Jonathan A. Schein President & CEO Real Estate Media GlobeSt.com 11/19/03: Arnold Schwarzenegger is now the governor of California, and his first official act was to repeal the wildly unpopular $4.3 – billion automobile tax. It’s important to keep promises, and the new governor is off to a good start. Anyone who owns a car in California must be ecstatic. But now the question becomes where new revenue will come from. This is not simply a local question but one with national implications . Almost all 50 states are struggling with the same issue: balancing the budget without cutting services. Unfortunately, one of the first places state legislatures go to address these shortfalls is property taxes. Proposition 13 aside, there will come a point where real estate owners will be footing yet more of the bill. It happened in New York City, with an 18% property tax increase, and it’s likely t o come to your neighborhood soon. The question is not when taxes will rise but how many times they will rise.
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JONES LANG LASALLE (NEW YORK CITY) The firm has tapped Mark J. Marasciullo as senior vice president of investor services. He was most recently vice president with the company’s capital markets group. Marasciullo will be responsible for developing and strengthening relationships with clients that maintain New York City headquarters.

THE STAUBACH CO. (ATLANTA) Brian Terrell has been promoted to executive vice president. Formerly a senior vice president at the company, Terrell will lead its design- and construction-consulting practice. He currently runs more than $1.6 billion worth of projects.

 

TRAMMELL CROW CO.(WASHINGTON , DC) Terry Hindemann has come on board as director of brokerage for the firm’s Mid-Atlantic operations. Hindemann was most recently a broker at CB Richard Ellis. He will support daily operations as well as develop long-range strategies.

GRUBB & ELLIS (LAS VEGAS) The firm has appointed Linda S. Wischmeyer as director of property management. She will run daily operations, administration, accounting, financial reporting, leasing and development for the company’s local portfolio. Wischmeyer joins Grubb & Ellis from the Dunn Cos., where she was vice president of asset management.

 

SSR REALTY ADVISORS INC. ( MORRISTOWN , NJ ) Shelton S. Getter and John Lamb have been tapped as acquisitions directors. Getter, who was most recently vice president for direct investments at AEW Capital Management LP, will run joint-venture relationships nationwide. Lamb, who was also vice president for direct investments at AEW, will be responsible for sourcing investment opportunities in the East and Midwest .

WELLS REAL ESTATE FUNDS INC.

Director, Real Estate Marketing

(GEORGIA)

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