JUNE 2016 — Terra Search Partners is pleased to share some highlights from our 10th anniversary year and announce some of our recently completed searches.
Terra View of the Market: Our worldview is that, while the recovery is long in the tooth, the overall economy and the drivers of the national real estate market remain strong. Our hometown of San Francisco is slowing from explosive growth, but at this point we see it slowing to a sustainable state.
Listening to our economist friends and our clients, we have not yet heard any evidence of a slowdown in the overall economy. However, there seems to be a consensus that investment sales pricing and volume have peaked, although an adjustment off of a peak is probably to relative normal rather than any sort of crash. On the fundamentals front, overall, real estate employment is strong and in balance. We see employers seriously focused on employee retention in this still fairly hot job market.
For a longer discussion of the markets pertaining to the multifamily sector, see Matt Slepin’s article in the January issue of MultiHousing News entitled: “2016: Still in the Seventh Inning?”
Building the Platform: Our 10th anniversary year is proving to be one of our busiest ever, and we’re growing.
- We’re opening a new Terra Search Southern California office. Sharon Sterling has been promoted to Managing Director and will be relocating back to her hometown in Orange County. She’ll open the new Southern California office to better serve our clients in the Los Angeles, Orange County, Inland Empire, and San Diego markets. Longtime Principal Ellie Gardner is joining Sharon to support this expansion.
- We’re growing our investment management and private equity fund practice. Terri Boutwell has been promoted to Managing Director and continues to focus on this practice, and we’ve brought on Mary McCarthy as Managing Director. Most recently with Hines, Mary will leverage her long career in capital markets and fund management to join Terri and partner Stephanie Pearson in focusing on this side of the business.
- Members of the Terra team attending the Spring ULI meeting had a diverse range of speaking engagements. Alan Greenwald led a panel on Succession Planning at the Affordable Housing Council. Stephanie Pearson led a panel on Corporate Culture at her Residential Council. You can watch Stephanie talk about the panel and employee engagement here. Bill Whitlow was the moderator of a panel at his Multifamily Council that also featured Matt on the topic of hiring and compensation. Matt was also on another panel at a different Council meeting on talent management that was moderated by Lili Dunn, President of Bell Partners. Mary moderated a panel in the forum for Building Healthy Places, as well as a panel in the Global Exchange Council on the new US Embassy in London.
- Bill has been appointed to the National Multifamily Housing Council’s Diversity Committee and Matt to the Board of the ULI San Francisco District Council.
- Matt recently began a series of interviews on leadership for the Bay Area Registry in which he is interviewing real estate CEOs on a topic near and dear to his heart: that, in today’s leading real estate companies, a strong business platform is as important as the company’s real estate assets. He has interviewed Bill Stein, CEO of Digital Realty Trust, and Mike Schall of Essex Property Trust. You can read the Bill Stein interview on our website, through this link.
Recent Search Activity: Thank you to our valued clients for entrusting us with your important hiring decisions. We are honored to work with some of the largest institutional investment managers, family offices, developers, operators and managers across the country.
We have been very active on a national level, across all disciplines:
- Asset Management & Acquisitions
- Investor Relations & Capital Raising
- Property Management & Operations
We are pleased to announce the following placements in senior roles ranging from President, CIO and COO to Regional Managers and Vice Presidents. Congratulations to all!
American Realty Advisors
Scott Anderson, Senior Director, Multifamily Asset Management, Los Angeles Dan Butler, Director, Institutional Marketing, Los Angeles David Willet, Senior Director of Acquisitions, Investment Group, East Coast
Avanath Capital Management
Wesley Wilson, Director of Accounting, Irvine
Black Creek Capital Group
Donald Orive, Director of Finance and Accounting, Mexico City
Clint Reilly Holdings
Matt Evans, Senior Managing Director, Real Estate, San Francisco
Forum Real Estate
Kyle Winning, Chief Investment Officer, Denver
Harbor Group International
Ryan Ambs, Vice President, Asset Management, Washington DC
Holland Partner Group
Tony D’Alto, President, Holland Residential, Vancouver, WA Philip Williams, Development Director, Long Beach
Interstate Equities Corporation
Jim Aliberti, Director of Property Management & President of IEC Property Services Corporation, Orange County, CA
Jonathan Rose Companies
Fred Harris, Managing Director, Head of Development, New York
Landsea Holdings Company
Tony Dolim, Chief Financial Officer, Irvine
Scott Rynders, Regional Vice President, West Coast Development, Los Angeles
The Michaels Organization
Gary Buechler, President, Michaels Development Company, New Jersey
PS Business Parks
Jami Shaw, Regional Manager, Operations, Bay Area Tom Driscoll, Regional Manager of Operations, DC Metro
Forrest White, Vice President of Construction, Scottsdale
Prudential Real Estate Investors
Phillip Campbell, Vice President, Asset Management, San Francisco
Rockhill Management of Rockpoint Group
Marc Gille, Vice President of Operations and Project Management, San Francisco
Stockbridge Capital Group
Alan Purser, Managing Director, Head of Client Relations & Marketing, Atlanta
James Goody, Chief Financial Officer, San Francisco
Kyle Early, Senior Vice President, West Coast Acquisitions, San Francisco
Veritas Property Management
Dave Weinstein, Chief Operating Officer, Richmond, CA
The Wolff Company
Keith Dodds, Vice President, Asset Management, Scottsdale
Community Service Day: To celebrate our 10th anniversary, the Terra team will be dedicating a day to community service. We recently sent an email asking friends and colleagues for their vote on choices of nonprofits for our service day. With over 500 votes received, the winner is BRIDGE Housing, and we’ll update everyone who wants to join us on the specifics once a date is set.
We thank our clients and our friends for a great first half of the year and look forward to working together for the rest of our anniversary year and beyond.