Thank you for sharing!

Your article was successfully shared with the contacts you provided.
  LIVE WEBINAR Job Opportunities in a Turbulent Market In today’s real estate marketplace, finding and keeping meaningful employment – whether you are a manager, developer, investor, broker, or architect – is a difficult and constant challenge. GlobeSt.com and the SelectLeaders Job Network are pleased to present this important online event to identify key job growth areas, the types of positions that are in demand, and approaches necessary to flourish in this downturn. Tuesday, June 9, 2009, 12:30 PM ET. Cost: $59. REGISTER NOW > Your Local Banker

The Wall Street Journal reported today what most of us suspected: local, small and mid-tier banks are sitting on piles of potentially toxic commercial real estate loans that could generate losses of $100 billion by the end of 2010. The Journal studied over 900 banks and estimated that their loans on shopping malls, office buildings, apartments, and hospitality projects could add up to 50% of their total loan losses over the period. While this isn’t as big as the predicted CMBS tsunami, or the mess at the 19 largest banks, the local bank situation is notable because most are located in small and second-tier cities and towns, have limited in-house real estate expertise, and thus, will be totally unprepared to deal with the workout and subsequent REO mess. This will translate to a significant need for talent or service company support that can step in and help clean it up. But, the problem will be finding experienced professionals who are in the local market. Here’s an idea: join AAA and hit the road in about 6 months. There will be plenty of jobs and consulting gigs in Alabama, North Dakota, Kansas, and Montana, to name a few.

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
SELECTLEADERSRetail Leasing Manager–Retail Leasing Broker(NEW YORK CITY) The leasing manager will actively develop business relationships within the local community to help secure new tenants, aggressively canvas the local markets for new tenant prospects and prepare, manage and deliver presentations to prospective clients.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.