Executive Watch

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Perspective
Jonathan A. Schein - President & CEO - Real Estate Media - GlobeSt.com3/7/06:Blackstone's planned acquisitionof REIT CarrAmerica, as reported early yesterday on GlobeSt.com,may be an omen of things to come. Blackstone has beeninsatiable in its appetite for quality real estate assets. However, this is the second REIT in the past few months to beacquired and taken private. There are two basic rationalesthat fuel this privatization trend. First, there's theongoing abundance of private money and the dearth of placesto park it. Second, there's the specter ofSarbanes-Oxley, which has made the public-equities market a costlynightmare of accountability—the muddled thinking of an overzealouslegislature responding to the actions of a very small part of thebusiness community. The result has been to transform what was oncea terrific field in which to raise capital into an onerous businessenvironment. Rest assured, as more corporations choose theprivate route, those same legislators will be hard at work craftingnew ways to regulate them as well.

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

IDI
(ATLANTA) Linda Booker is named vice president and CFO. As a10-year veteran of the firm's ranks, she most recently was vicepresident and controller.

NEWMARK KNIGHT FRANK
(SANFRANCISCO) William Benton, Michael Brown and QuentinKnights are named principals. Four years ago, the trio ofmanagi

New Hires

NEWMARK KNIGHT FRANK
(WASHINGTON, DC) Earl L. Segal, an attorney with more than30 years' experience in real estate law, has joined the NewmarkKnight Frank team to launch a new career in specialty practiceslike law firm and not-for-profit advisory services, corporateaccounts and investment sales. Segal, ending two decades as apartner in Akin Gump Strauss Hauer & Feld LLP, also will helpto develop other global specialty practices, includinghospitality.

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

RLS
(HARTFORD, CT) David Scruggs is named CFO. He replacesfounding principal Doug Powell, who's been CFO since 1989 of theseniors' housing development and management firm. Scruggspreviously was CFO for a multi-site, continuing-care retirementsponsor.

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

INTRACORP SAN FRANCISCO
(SAN FRANCISCO) Michael McCone starts as vice president ofdevelopment, assuming the lead role for entitlement, design andconstruction of projects like the 268-unit Arterra. He mostrecently was with the Rosenberg Co.

Job Opportunities
TitleDescription

FANNIE MAE

(WASHINGTON DC)

Sr. Product Developer

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

METLIFE REAL ESTATE INVESTMENTS

(CALIFORNIA)

Loan Analyst

Responsibilities include assistance on loan closings; tenantestoppel and subordination agreement reviews, preparing leaseabstracts and lease reviews. Requirements include three or moreyears 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 theinvestment program for ING Clarion's real estate investmentadvisory business. Functions include sourcing, underwriting,evaluating, structuring, documenting and closing private equityinvestments for primarily institutional capital sources.

EQUITY OFFICE PROPERTIES

(CALIFORNIA)

Marketing & Leasing Coordinator

Execute the local regional broker and asset marketing efforts ofEquity Office. A bachelor's degree and four to seven years ofexperience is required. The ideal candidate will have strongproject management, analysis and writing skills, as well as aproven track record of success collaborating with diverseteams.

WELLS REAL ESTATE FUNDS INC.

(GEORGIA)

Asset Analyst

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

HYATT CLASSIC RESIDENCE

(ILLINOIS)

Senior Vice President of Development

Successful candidates will possess a bachelor's degree, with aminimum of 15 years of successful executive experience in themanagement of multi-site, national real estate development andconstruction projects in excess of $100 million.

SELECTLEADERS

(NEW JERSEY)

Project Executive and Chief AdministrativeOfficer

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

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