Source: globest.com ~ Author: Natalie Dolce
“Many real estate investment management leaders that approach retirement age acknowledge that they have done too little to bring up ‘next generation’ talent to succeed them,” says Price.
SAN FRANCISCO—“Women have made strong progress in advancing to leadership positions in commercial real estate, but our industry still lags many others in attracting women and supporting their career growth.” That is according to COO of Bentall Kennedy US, Amy Price. Price was recently named one of sister publication Real Estate Forum’s Women of Influence.
“The commercial real estate industry is only now arriving at the point of creating career paths and defining senior leadership roles that provide the flexibility and opportunities to appeal more broadly to women,” she says. “The gender gap is particularly evident in the real estate investment management sector, where conferences of top executives tend to be 90% composed of men.”
This is not merely a gender issue but a generational one, she adds, as “many REIM leaders approach retirement age, they acknowledge having done too little to bring up ‘next generation’ talent to succeed them. Since women now comprise nearly 60% of university graduates and receive 60% of master’s degrees, there is not just an opportunity but an urgent need for our industry to attract and promote women.”
If you are in the market to lease, buy or sell commercial property in Northern California, Realtors associated with Century 21 M&M Commercial is look forward to walking you through the process. Rest assured that Century 21 M&M Commercial Realtors will do their best to make sure that both sides are protected during the transaction.
Source: nreionline.com ~ By: David Bodamer
- CalPERS picks Ted Eliopoulos to be investment chief “California’s huge pension fund has turned to a trusted insider to take over the daunting job of directing almost $300 billion in investments, crucial to the retirement of more than 1 million current and former state and local government workers. After a nationwide search, the California Public Employees’ Retirement System said Wednesday that it had picked Ted Eliopoulos, a seven-year investment expert at the fund who has been the interim chief investment officer since February.” (Los Angeles Times)
- The 9 Worst Property Markets In The World “Overall, property prices around the world continue to rise. However, some countries aren’t doing so well. Even the once-hot Chinese housing market has been seeing prices tumble for months. The Global Property Guide has compiled and analyzed the property price performance of the world’s big economies.” (Business Insider)
- Untangling Nicholas Schorsch’s vast web of businesses “Nicholas Schorsch’s vast web of businesses is untangled in this ‘simple’ visual of all entities under his purview.” (InvestmentNews)
- City’s Very Unfair Rent Tax “Is it fair that 6,700 retailers and office tenants located in parts of midtown pay a tax, averaging more than $96,000 a year, that identical companies located near the World Trade Center, north of 96th Street or anywhere in the other boroughs do not pay? Welcome to the highly discriminatory world of the city’s commercial rent tax, one of those unique New York taxes that make doing business in the city so difficult.” (Crain’s New York Business)
- Sears cash burn has suppliers growing leery of Lampert “Eddie Lampert has a big problem with appliances — and it’s not something a Sears repairman can fix. The billionaire chairman of Sears faces mounting pressure for financial assurances from the retailer’s suppliers, even as he seeks shipments of everything from big-ticket appliances to electronics, housewares and clothing, sources told The Post. The suppliers — and the lenders that finance their deliveries — have grown skittish because Sears has burned through nearly $1 billion in the first half of the year.” (The New York Post)
- Inland American selling 52 hotels for $1.1 billion “Inland American Real Estate Trust Inc., which is in the process of spinning off its hotel business, said today it is selling 52 hotels to a joint venture for about $1.1 billion. The buyers are real estate investment trusts NorthStar Realty Finance Corp. and Chatham Lodging Trust. NorthStar Realty will own 90 percent of the portfolio, while Chatham will own the remaining 10 percent. The deal is expected to close in the fourth quarter of this year.” (Chicago Real Estate Daily)
- Prometheus Billionaire Emerges With San Francisco Rentals “The apartments at City Square in Cupertino, California, feature an on-site gym and private decks that overlook the property’s amphitheater, Olympic pool and spa. The gray, five-story luxury building, where a second-floor two-bedroom apartment was recently listed for $3,293 a month, is ‘the perfect home after every amazing, exciting, exhausting day’ in the town where Apple Inc. (AAPL) employs 15,000 people and more than 60 other technology companies have offices, according to a listing on Prometheus Real Estate Group’s website.” (Bloomberg)
- Uniqlo expects profit at U.S. stores in ‘couple of years’ “Japanese fashion retailer Uniqlo aims to turn a profit at its small but expanding U.S. network of stores within the next couple of years, the company’s top U.S. executive, Larry Meyer, said. Well known in its home country for its inexpensive but trendy down jackets, jeans and undergarments, Uniqlo – short for ‘Unique Clothing’ – is a relative newcomer in the United States.” (Reuters)
- NorthStar Realty Acquires $1.1B Hotel Portfolio from Inland “On the heels of its $4 billion acquisition of Griffin-American Healthcare REIT II last month, NorthStar Realty Finance Corp. announced another blockbuster transaction on Thursday morning: it has entered into a definitive agreement to acquire a $1.1 billion hotel portfolio from Inland American Real Estate Trust. The company is partnering with Chatham Lodging Trust to buy the portfolio in a JV in which it will own a 90% stake and Chatham a 10% minority interest.” (GlobeSt.com)
- Five Costly Mistakes for Net Lease Owners to Avoid “The idea of managing a triple-net lease property probably doesn’t make sense to a lot of real estate investors. After all, the tenant has 100 percent responsibility for the maintenance of the property, and the owner simply receives a check on the first of the month, right? Management-free ownership may be the case for many triple-net lease properties, but in some situations the fine print of the lease will add a few caveats that the inattentive landlord can stumble over if they are not careful. When confronted with such a lease, an owner needs to be aware of the issues that can hinder their ability to collect the full NOI that is due.” (Commercial Property Executive)
If you are in the market to buy (lease or sell) a commercial property in Northern California, Commercial Realtors associated with Century 21 M&M Commercial look forward to walking you through the process. Rest assured that Century 21 M&M Commercial Realtors will do their best to make sure that both Buyers and Sellers are protected during the transaction.