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Integration

The Great Recession is now ‘officially’ over, but far from forgotten. In its wake is not simply a period of recovery, but a systemic change on many fronts that is going to have far-reaching impact on the economy and across the real estate industry. As a result, we are entering a period of consolidation as operating companies, investment managers, service companies and others will find that combining forces will be the way to remain competitive, navigate this new environment and wring out cost to produce satisfactory returns. “Who’s on first” in the management shake-ups at all key levels of a combined organization is going to be central to these situations. Real Estate has not been progressive on the organizational planning front, but this activity is going to force some hard decisions and professional planning to produce a leadership team that is equipped to deal with difficult integration issues, while at the same time guiding the company through a changing landscape.

Tony LoPinto is a senior client partner and head of Korn//Ferry International’s Real Estate Practice and founder of SelectLeaders. The views expressed in this article are the author’s own.
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TRICAL CONSTRUCTION, INC. Director of Asset Management (MARINA DEL RAY, CA) The director will create financial models and plans, including property business plans, for the growth of property values; manage and report cash flows and growth in property values; create and negotiate leases; and oversee third party property managers and leasing agents and provide direction based upon the property business plans; among other duties.

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