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What’s Hot and What’s Not

The first half of the year is just about over, so it’s a good time to take stock of hiring trends (and, in some cases, firing trends). While the overall economy is reeling from skyrocketing oil prices and turmoil in the credit markets, the best way to describe the real estate business is “on hold”. Investment activity is at a slow crawl, with some reporting levels of only 20% of last year. In addition, everyone is keeping a wary eye on the flood of commercial real estate loans that will be coming due in the fourth quarter and early ‘09, with little credit available. With these factors impacting the market, cutbacks are rampant on Wall Street and on the banking and finance front. Demand for acquisition professionals is almost nonexistent as investors continue to sit on their hands, with a full complement of talent on the bench. However, bright spots include development for strategic expansion plans, export to the Middle East and, increasingly, asset management to work existing portfolios.

Job Opportunities
SELECTLEADERSCorporate Controller(NEW YORK CITY) An owner/manager of retail real estate seeks a corporate controller to oversee accounting, participate in the ongoing development of a financial infrastructure, oversee the Accounts Payable Department and manage information systems and office administration.

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