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Jonathan A. Schein President & CEO Real Estate Media GlobeSt.com 12/10/03: As the Dow Jones Industrial Average hovers around the 10,000 mark, there is much to rejoice about concerning the rebounding economy. Or is there? An interesting anomaly about this particular bellwether is that the price of gold is also at an eight-year high. Typically, either equities move up or traditional safe havens–such as gold or real estate–move to higher pricing levels. Just as real estate gained new credibility as an alternative form of investment during the now-receding recession, so it is considered a safe investment during inflationary periods as well. Of course, inflation will have a direct impact on both the recovery and the stock market’s lofty highs as well. So, let’s not get too enthused about the appearance of this apparently great gift of the DJIA’s recovery. That, after all, was the initial reaction to the Trojan horse.
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HINES (CHICAGO) The firm has bumped up Greg Van Schaack to senior vice president from vice president. Van Schaack, who joined Hines in 1985, originates developments in the Chicago area. He is currently leading the team that’s developing a 40-story Central Loop office tower called One South Dearborn, scheduled for completion in 2005.

INTERSTATE HOTELS & RESORTS INC. (ARLINGTON , VA) Mark Purcell and Melissa Thompson have been promoted to vice president, acquisitions and development and vice president, corporate communications, respectively. Purcell, who was most recently director of business development, has with Interstate since 1988. Thompson, joined Interstate’s predecessor company, MeriStar Hotels & Resorts, in 1998, where she was most recently director of corporate communications.

BINSWANGER/CBB (TOLEDO , OH) Darrell Bossert has become part of the firm’s Midwest team as an assistant vice president. He will handle operations in Michigan and Ohio . Bossert comes from Schaeffer Manufacturing Inc., where he was a sales representative.

SONNENBLICK-GOLDMAN CO . (NEW YORK CITY) This real estate investment bank has tapped Richard Swartz as a principal and managing director. Swartz was most recently a senior managing director at APC Realty Advisors. In his new role, he will be responsible for arranging debt and equity financing and investment sales

ROBERT K. FUTTERMAN & ASSOCIATES LLP (NEW YORK CITY) Nevin Danziger has joined the firm as a senior director. Danziger will conduct retail leasing and investment sales. He was most recently president of Danziger Real Estate Co.

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