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Yesterday’s news that Blackstone is acquiring Equity Office Properties is the mother of all deals (maybe the largest real estate transaction ever) and suggests that the trend to privatization is alive and well, with more to come in 2007.  However, a byproduct of the deal will be a rather large stack of pink slips for individuals no longer needed in the private company.  If the CarrAmerica and Trizec acquisitions are an indicator, at a minimum the financial and investment sides of the house will be departing, and other operating efficiencies will surely be wrung-out, as Blackstone puts its imprint on EOP in its new private form.  However, the silver lining is that the professionals who are jettisoned will be absorbed quickly by a market hungry for talent.  In addition, you can expect that the most senior individuals, after their decent payday and possibly having had their fill of the public arena, may look for a more entrepreneurial next step.

Tony LoPinto is CEO of Equinox Partners, an executive search firm specializing in the real estate industry, and parent company of SelectLeaders. The views expressed in this article are the author’s own.

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ACTUS LEND LEASE RETAIL & COMMUNITIES (PARSIPPANY, NJ) Transaction Manager The transaction manager is the project’s main interface with third-party capital providers and is responsible for developing, arranging and implementing non-recourse, project financings for lend lease retail and communities businesses in the US.

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