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Boutiques

We have talked plenty about the extraordinary number of real estate professionals who are on the street, and the continuing, and even accelerating trend of cutbacks and “going out of business” layoffs. However, a counter-trend that is emerging is the formation of boutique platforms, constructed by two, three or four executives and professionals, to take advantage of the rubble created by this market, either in the form of managing workouts–to seize on opportunistic buys–or to fill the advisory gap vacated by large investment banking institutions. We have advised individuals who are out of work to “package” themselves and consider interim employment to weather the storm, remain engaged, and bring in a few dollars. However, the appearance of these new boutiques may turn out to be more than a stop-gap. Platforms that survive this period may emerge at the back end as viable enterprises that are nimble enough to capitalize on emerging opportunities, and structural changes that reshape the future playing field.

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.
Job Opportunities
SELECTLEADERSRegional Property Manager–General Manager(WASHINGTON, DC) The manager will be responsible for the management and effective implementation of all policies, procedures, property financials, and operational programs on a day-to-day basis that will assure that the properties and related project(s) are well managed.

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