Cassidy Turley's Market Development Gets New Senior Managing Director
(National Real Estate Investor Via Acquire Media NewsEdge) Cassidy Turley welcomed Carolyn J. Sidor to the
firm as senior managing director, market development.
Sidor will lead brokerage operations and Cassidy Turley’s
practice groups, including data center solutions, healthcare,
hospitality, law firms, food and beverage facilities, net lease
investment properties and life sciences.
Additionally, she will lead the company’s customer
relationship management team in its ongoing development and
implementation of management team tools. Beyond that, Sidor will
work with Cassidy Turley COO John Fleury to target and
prioritize recruiting and merger and acquisitions opportunities and
align information technology, marketing and research strategies for
growth and integration in local markets and across the firm’s
platform. She will be based in Cassidy Turley’s Boston
Prior to joining Cassidy Turley, Sidor was with Colliers
International from 2008 to 2012, most recently as president of
operations, U.S.A. In this role, she led the integration of
Colliers U.S.A. and FirstService Real Estate Advisors. She also led
regional marketing and business development teams at CBRE –
New England and Insignia/ESG.
Previously, Sider served as COO of the Greater Boston Real
Estate Board and executive director of the Building Owners and
Managers Association of Greater Boston.
NREI talked to Sidor about what’s going on in the
healthcare sector, what other sectors are generally hot and what
geographic regions of the country are also faring well. An edited
version of that interview follows.
NREI: Take one of the practice groups that you work with
and talk about some of the biggest issues facing that sector
Carolyn Sidor: Healthcare impacts all of us, and, now
that the election has passed, we have a little more clarity on
where we are headed.
The Patient Protection and Affordable Care Act will introduce
more than 30 million new, insured patients into the healthcare
system and new ambulatory and outpatient-care facilities will be
required to meet the influx of new patients. Also, healthcare
systems now face reductions in reimbursements and must better
manage costs and real estate assets and leases are seen as an
opportunity for expense reductions and/or capital generation from
the sale of non-core or non-acute assets.
There are a number of other areas where we can provide a great
deal of value to our healthcare clients, too. Healthcare systems
now place a greater emphasis on coordinating care across physicians
and services, so they have to focus on and implement a defined
strategy addressing site selection and the types of outpatient
facilities they want to deploy. Additionally, the Affordable Care
Act strengthens penalties and enforcement associated with
healthcare fraud with direct implications for real estate
operations. Healthcare providers increasingly seek
arm’s-length real estate experts to assist in maintaining a
real estate program that’s within compliance of the law.
NREI: Where are some of the areas that are looking hot for
growth right now
Carolyn Sidor: Energy, technology, healthcare,
manufacturing and distribution will continue to be our leading
U.S. oil and natural gas production is booming and because of
this increased production we’re importing 1 million fewer
barrels of foreign oil every day. Rising energy supplies combined
with a push for energy efficiency should lead to lower gas and
heating-oil prices over the long term. That should directly boost
consumer spending on other goods and services and drive economic
growth stronger profits lead to job creation, which leads to
stronger demand for real estate.
With technology, venture capital spending increased 26 percent
in 2011 and has remained at healthy levels in 2012, especially with
investments in software, biotech and IT services. Global demand for
mobile technology is tremendous and that creates great growth
potential for tech firms based in the U.S.
Manufacturing has been a bright spot, too, especially for
markets outside the traditional gateway cities. The U.S.
manufacturing sector has added 500,000 new jobs during the economic
recovery, the strongest growth since the 1970s. Improved
manufacturing leads to better prospects for our warehouse and
distribution hubs as well. Markets that are geographically
positioned to serve wide swaths of the U.S. will benefit as
consumer spending increases.
NREI: What geographic regions of the country are looking
best Where are things starting to get more stagnant
Carolyn Sidor: As we alluded to earlier, gateway
markets metro areas with vibrant tech and energy
sectors and some of the major distribution hubs, Dallas and
Phoenix, for example, are all outperforming the rest of the country
by nearly every economic measure. Houston is the prime example for
the energy sector. It’s perhaps the leading U.S. market in
terms of office and industrial demand.
The traditional tech markets San Francisco, San Jose,
Seattle and Austin have risen to the top as well and are
joined by tech-resurgent cities like New York, Los Angeles and
Denver. The gateway cities, which include Washington, D.C., and
Boston as well as San Francisco, New York, Dallas and Seattle,
benefit from demographic and macroeconomic shifts. They’ve
benefited from population shifts and an increasing share of global
business flows through these gateway markets, which accelerates
their growth trajectory.
Lately, nearly all U.S. markets demonstrate at least mild
improvement, but some metro areas have lagged. Out-migration
trends people moving to other cities for better economic
opportunities will continue to be the biggest challenge for
Sabal Launches New ProgramSabal Financial Group L.P. has launched a commercial real
estate lending program that will provide bridge loans for value-add
real estate opportunities.
The program will initially provide bridge loans across all
income-producing property types on the West Coast and
eventually nationally. Sabal will focus on projects though leasing,
renovations, repositioning, or improved management operations.
Loans will be made starting at $5 million.
Sabal promoted James M. Martin to direct the new program.
Martin is a 25-year veteran of commercial real estate finance,
investment and asset management. He was formerly president of
Martin Real Estate Group, a full-service Orange-County based
commercial real estate brokerage company responsible for hundreds
of financing and investment sale transactions across several
property types throughout the western U.S., and in senior
management positions with The Picerne Group and ORIX USA.
Colliers Promotes HotchkissColliers International promoted Dwight Hotchkiss
to president of brokerage services for the U.S.
Hotchkiss, who is based in Los Angeles, joined Colliers
in 2010 and was formerly the executive managing director of the
In less than two years at Colliers, Hotchkiss expanded the
offerings of the firm’s brokerage services group and
implemented a new structure to better integrate the group
nationally and manage vertical markets from retail to industrial
and office. In his new role, Hotchkiss will work to further elevate
the U.S. brokerage platform through the development of practice
groups, service lines, and other client-facing strategies. He will
also tighten the focus on business development and recruiting key
talent for the group as it continues to expand.
Prior to joining Colliers, Hotchkiss worked for Cushman &
Wakefield, where he went from top producing industrial broker to
head of Cushman & Wakefield's downtown Los Angeles branch and a
national leader of the firm’s U.S. industrial brokerage
division, driving more than $85 million in revenue.
NMHC Promotes SVPThe National Multi Housing Council promoted Julie
Tulipane Stalknecht to senior vice president, membership,
meetings and marketing.
Stalknecht will lead the group’s member recruitment and
services program for a membership that includes the
industry’s largest and most prominent apartment firms. She
also oversees the council’s major business development
initiatives, including marketing, meetings, sponsorships, trade
expositions and other key member services programs.
Stalknecht brings more than 20 years of experience working with
501(c)6 and for-profit organizations, growing multimillion dollar
revenue programs for organizational membership, marketing, trade
expositions, meetings and other major programs. Before joining
NMHC, she held senior positions at the National Apartment
Association and American Trucking Associations.
Winick Opens New N.J. OfficeWinick Realty Group LLC opened a new office in
The new office will be run by Senior Vice Presidents and
Founding Partners Daniel Spector and Tyler
Spector has been in the retail real estate leasing and asset
sales business for more than 25 years and has focused on Northern
New Jersey for the past 15 years. Bennett has been in the industry
for a decade, focusing on tenant representation, landlord leasing,
land development and asset sales, in Central and Northern New
Jersey, as well as Staten Island, NY.
Calif. Real Estate Pros Join City National BankCity National Bank hired Charlie McGann and
Deven Mays have to join the real estate team in the San
Francisco Bay Area.
Prior to joining City National, McGann served as regional
manager of real estate for Union Bank. He will be a senior vice
president and regional manager of Northern California real estate,
focusing on lending to developers and investors in the region. He
will work closely with the bank's commercial real estate clients,
including home builders and commercial real estate developers,
providing them with construction, bridge and permanent
With more than 15 years of industry experience, Mays joins the
bank as a senior vice president for real estate in the Bay Area and
he reports to McGann. He was a senior vice president and team
leader of real estate with Wells Fargo's real estate division and
formerly with Greater Bay Bancorp., which was acquired by
VP Joins SL CapitalSL Capital, a correspondent of Cantor Fitzgerald
Commercial Real Estate, hired Neal S. Cooper, as a vice
Cooper will originate commercial mortgage loans intended for
securitization and will build strategic correspondent relationships
with community banks. Based in Miami, Cooper will travel
between Florida and Chicago and will report to
Constantine Scurtis, co-chairman and CEO of SL Capital.
Cooper has more than 25 years of experience in the real estate
industry, spending most of that time originating and brokering
commercial real estate loans. Most recently, he served as a
principal in the Commercial OREO Group at Bank of America.
Hines Promotes One Pro, Hires AnotherHines promoted Todd Adams to vice
president-property management in the firm’s
Since joining Hines in 1988, Adams has contributed to the
leasing, management, acquisition and/or disposition of more than 15
million sq. ft. of commercial properties. He is currently
responsible for the operational oversight of the firm’s
approximately six million sq. ft. of space throughout Minnesota and
Nebraska. As a member of the firm’s Midwest/Southeast/Canada
Regional Core Management Group, Adams creates and leads policy and
Hines also welcomed Chris Keber to the firm as a senior
managing director in the company’s new office of investments.
As a member of Hines’ capital markets team, he will have
global responsibilities for institutional capital raising, and
structuring of commingled funds, programmatic joint ventures and
separate accounts. He will be based in Manhattan.
Prior to joining Hines, Keber led the global capital raising and
investor relations efforts for Starwood Capital Group.
Ackerman Takes over CBRE in PittsburghJack Norris will retire from CBRE Group Inc. at
the end of March 2013 and Jeffrey Ackerman will succeed him
as managing director and market leader for Pittsburgh.
The change will be effective on April 1, 2013. Gerry
Dudley will be moving into the leadership role of executive
vice president of the investment property group in
Pittsburgh as of the same date, succeeding Ackerman.
Norris’ retirement comes after more than 15 years as the
company’s market leader in Pittsburgh.
Ackerman and Norris have been business partners for many years.
They, along with colleague Dudley, formed a local real estate
services firm in 1998 that was ultimately acquired by CBRE and
today comprises the backbone of the company’s Pittsburgh area
Ackerman is a 25-year veteran of the Pittsburgh real estate
market. As an executive vice president in the company’s
investment properties group, he has completed more than $4 billion
of investment property sales in the Pittsburgh market.
Dudley has been a senior fixture in the Pittsburgh real estate
market for over 30 years. As an executive vice president in the
company’s office occupier service business he has completed
more than $5 billion dollars in aggregate lease volume during his
Managing Director Joins Meridian Capital GroupMeridian Capital Group LLC added Geoffrey D.
Harris as a managing director at the company.
Harris specializes in financing commercial assets with a focus
on triple-net lease and sale-leaseback transactions and will be
responsible for overseeing Meridian’s recently formed Arizona
Harris has 14 years of mortgage banking experience and has
closed more than 1,900 transactions totaling over $2.9 billion. In
his new role he will be originating debt and equity transactions
nationally, focusing on triple-net leased property owners and
investors. He comes to Meridian from Marcus & Millichap, where
he was ranked as a “Top Five Broker” nationally from
2007 through 2011 and a “Top Loan Originator” for three
consecutive years from 2008 to 2010.
Shorenstein Hires Sustainability Program ManagerShorenstein Properties LLC announced it has appointed
Jaxon Love as sustainability program manager.
He will be based in the company’s San Francisco
office and will be responsible for running Shorenstein’s
in-house sustainability program, which includes the company’s
corporate operations as well as all properties under
Prior to joining Shorenstein, Love was a Fellow of the
Environmental Defense Fund’s Climate Corps program. Before
that, he held positions at Pacific Gas and Electric Co., as well as
EcoNorthwest, an economic consultancy.
Ryan Promotes KieseyRyan Companies U.S. Inc. promoted Jim Kiesey to
division manager in the Midwest region.
Kiesey will be responsible for the leadership and direction of
the management team’s activities on construction projects in
the Quad Cities and eastern Iowa market. He will also
work on cost estimating, scheduling, design management and quality
assurance, and he will play a key role in project pursuits,
building community relationships and customer satisfaction.
Since joining Ryan 13 years ago, Kiesey has been part of such
notable projects as Trinity College of Nursing, the Mississippi
Medical Plaza and multiple projects for Lujack’s Auto Plaza.
He also led the team on the Acciona Windpower Manufacturing
Facility in West Branch, Iowa, which was Ryan’s first
Director Joins Boston Realty AdvisorsBoston Realty Advisors hired Robert F. LeClair as
LeClair comes to the firm from CBRE Group Inc. – New
England, where he spent seven years as an office leasing broker and
received that company’s Rookie of the Year Award in 2008.
With Boston Realty Advisors, LeClair will be focused on office
leasing in the Boston’s Downtown and Back Bay
Continental Realty Advisor Names ControllerContinental Realty Advisors appointed CPA Brian
Capstick as controller.
Capstick is responsible for financial reporting, cash management
and treasury activities. As part of our executive committee, Brian
will help support CRA’s growth and acquisition of new
properties across the U.S., including additional properties in the
company’s core markets of Louisville,
Indianapolis and Dallas. CRA is an institutional
equity fund manager that will be actively seeking to deploy in
excess of $300 million in equity on a nationwide basis with the
Prior to joining CRA, Capstick was the assistant controller at
Baceline Investments, a private equity real estate investment
Two Attorneys Join Carlton FieldsTwo lawyers joined Carlton Fields in the firm’s
Charles T. Sharbaugh, a shareholder, and Jason W.
Howard, an associate, are members of the firm’s real
estate and finance practice group.
Prior to joining Carlton Fields, Sharbaugh was a partner at Paul
Hastings. His practice focuses on the representation of private
equity funds in acquisitions, dispositions, and joint venture
arrangements with respect to real estate assets. This includes
representation of funds and other investors in the acquisition of
distressed assets and loans. He has substantial experience in the
representation of lenders in secured transactions, sale and
disposition of large asset pools, sale leaseback transactions and
Section 42 tax-credit transactions.
Howard also joins the firm from Paul Hastings. He concentrates
his practice in the real estate and finance industries, handling
matters related to asset-based financing and lending arrangements,
including workouts and restructuring of debt obligations.
Opus Hires Two Architecture ProsOpus AE Group Inc., headquartered in Minneapolis,
appointed Dean Newins as vice president, architecture and
Ernesto Ruiz-García as senior manager, architecture.
Newins will work closely with Opus Development Corp. and
Opus Design-Build to develop design solutions for various
projects. Prior to joining Opus, Newins was a partner at OTJ
Architects, a 70-person firm in Washington, D.C.
Ruiz will be responsible for leading multiple design projects
and teams from initial phases through to construction documents. He
comes to Opus from HGA Architects and Engineers, where he was a
senior associate and managed the execution of various design
projects in Minnesota and several other states.
Research Consultant Joins SRS Real Estate PartnersSRS Real Estate Partners brought on Shannon Wilson
as a research consultant in the Chicago office.
Wilson will be supporting the Chicago brokers’
transactions with geographic and market information, helping
support local business development and collaborating with the
national research team to further improve SRS research
Prior to SRS, Wilson was a lab technician at Environmental
Monitoring and Technologies. There, she performed chemical tests on
waste water, soil and oil for companies located in Illinois and
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