Making Their Names

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For all the attention that routinely gets showered on the titans of local real estate, everybody knows it’s the people 20 or 30 years their junior who do most of the grunt work – whether it’s preliminary designs, entitlement reports, tenant improvements or just guiding a client through a complex transaction. We’ve identified 20 L.A.-area brokers, lawyers, developers and architects who take us through their rounds – and along the way we hear about their fears, achievements, frustrations and what they worry about when they’re ready to go to bed (what else? – some big deal). It’s hardly a definitive list of the best and the brightest in Los Angeles real estate (please excuse our omissions), but consider it a sample of people who are getting some attention, either in their offices or throughout the industry.



& #8226; Darren Adkisson



Age:

33

Title: Design Director, Senior Associate


Company:

Gensler


Education:

Bachelor of architecture, Kansas State University


Job Description:

Works in all aspects of projects, including conceptual design and construction administration. Currently working on a dormitory, a business school and school of theology at Biola University in La Mirada.


Getting Started:

When I graduated I worked in Missouri for a couple of years. Things started slowing down and the firm let me go. I decided to pack my bags and drive out to California. A friend of mine from school was working (at Gensler). I didn’t know he was in L.A. until I got here.


Attraction to Design:

It happened for me at a young age. I would help my grandfather work on old houses. I was just his go-fer picking up tools and stuff. I didn’t know what I was getting into. I was interested in shaping space. I was doing stuff in my head before I knew what to call it.


Biggest Deal:

A project for Hines called Lantana West. Revolution Studios took over the entire building. It has balconies and exposed concrete and that kind of thing. It was one of the first projects here that I had a leading role in.


Biggest Break:

I didn’t have much to work on so I went into Gene Watanabe’s office and asked what was coming up. He gave me the opportunity to work on Lantana West.


How to Get Ahead:

Most people say I’m passionate, almost to a fault. I’m just not good at taking no for an answer. When I see something is right I try to fight for it. It got me in a lot of trouble with my mother when I was young.


Hardest Lesson:

You don’t always get what you want. The project doesn’t always end up the way you envision it to be. The process influences the way it is in the end. That’s been true with just about every project I’ve worked on.


Biggest Frustration:

To bring in an aesthetic to the building. The great clients have an appreciation for the building and its contribution to the overall context of the city. It’s a frustration when you’re not able to implement an artistic edge.


Pet Peeve:

People who accept the status quo. I won’t tell you that my biggest pet peeve is people eating with their mouth open.


Biggest Regret:

Not coming to L.A. right after school. My fear of the unknown kind of kept me from doing what I wanted.



& #8226; Kevin Bender



Age:

31


Title:

Senior Vice President


Company:

CB Richard Ellis Group Inc.


Education:

B.A., economics, University of Arizona


Job Description:

Represents tenants in the leasing, disposition and acquisition of commercial office property. Has completed more than 40 transactions totaling more than 2.5 million square feet in the past three years, and was named the region’s “Hottest Broker” by Southern California Real Estate in 2001 and 2003.


Starting Out:

We had family friends in the business that I have a lot of respect for. I became interested in the brokerage side because it’s very entrepreneurial and requires a lot of discipline and motivation. I started with Julien Studley Commercial Real Estate in 1995. I and two colleagues, Steve Bay and Clay Hammerstein, were recruited by Insignia/ESG in 1998 to launch brokerage operations in L.A. and Orange counties. We all stayed on when CB Richard Ellis acquired Insignia in 2003.


Biggest Deal:

Either IndyMac Bank, which was 140,000 square feet and worth $30 million, or State Street Bank, which was 130,000 square feet and worth $34 million. Both were in 2004.


How to Get Ahead:

The only two things you have in this business are time and access to information. So my ability to be successful is based on my ability to listen and think quickly on my feet. I’m the youngest of four kids, so I didn’t have a chance to talk much and I needed to listen to stay ahead and not get underfoot.


Secret to Success:

This business is not that complicated. You just need to work hard, be persistent, be ethical and have an excellent reputation.


Life Goals:

There’s this misconception that the people who are successful are the ones who live at the office. To me, success is working hard and being efficient with my time at the office, but also to have time to be a great father and husband and a great friend to my friends.


Mentors:

My mother, Liz Bender, who runs a physical therapy center, and my father, Jim Bender, who is business manager for a BMW dealership. Mom is very entrepreneurial, yet she always took care of our family. Dad works hard, but he was always there to be a baseball coach or help in community events. I was fortunate in that sense.



& #8226; Robert Budman



Age:

26


Title:

Director of Acquisitions




Company:

StarPoint Properties LLC


Education:

B.A., business, USC

Job Description:
Responsible for all acquisitions, dispositions, and financing activities for multi-family developer.


Starting Out:

My grandfather was an entrepreneur and one of the things he was involved in was real estate. So growing up I saw some of his dealings. It was always so exciting to drive by some building that he either owned or rehabbed. It was just so tangible. I think it just put that idea of real estate always in the back of my head.


Biggest Break:

My first big break was getting my first job at Bascom Group, (an investment firm that also specializes in multi-family properties). When I started in the industry I didn’t know what a well-respected firm they were. It was such a fantastic place to learn the industry.


Biggest Deal:

The Fountains at Moorpark, an apartment complex, formerly called Le Club. It’s a 370-unit deal in the mid $50 million range that we just acquired last year. We’ve done an extensive rehab of the leasing office, fitness center, grounds, and the majority of the unit interiors.


Biggest Obstacle:

I’ve had to overcome the age obstacle from the first day I started and I still have to today. Some people can be a little surprised when you meet them face to face after talking to them on the phone for months. It’s just about being knowledgeable and making good decisions. People will respect you if they see you as an equal.


Best Attributes:

I’m an extremely analytical person and I think being on the investment side of things, that’s what it takes. You’ve got to like to sit there and look at the numbers but also get out there and understand the markets and sub-markets and walk through the buildings.


Hardest Lesson:

Market cycles. Right now it’s been an extremely difficult environment to buy and when that’s your primary responsibility it’s tough because you can’t beat market cycles. You’ve just got to work with them and be creative enough to find the opportunity even in tough times.


Pet Peeve:

I’m very, very, very impatient person. Sometimes in real estate the length of time it can take to get a deal done can be frustrating.



& #8226; Tom Cody



Age:

35


Title:

Principal


Company:

Gerding/Edlen Development Co. LLC

Education: B.S., urban planning and development, USC; master’s degree in urban planning, Harvard University


Job Description:

Responsible for new business development, project planning, financing and expanding in the areas of student housing, education, government facilities and public/private ownerships.


Starting Out:

The first company I worked for was a family owned. From there I went to being director of real estate at OPUS, a big national institutional builder. My roots are in L.A. I was later attracted to Portland, which is considered a model city for urban planning. Now I split my time between both cities.


Biggest Deal:

A civic redevelopment project in Portland worth $90 million. It includes affordable housing, market rate condominiums, retail and three-level underground parking. Construction started just a week ago and should be done by 2007.


Secret to Success:

Attention to detail and having a very comprehensive approach to real estate development. I always look at environmental, economic and social factors of a project. My attitude is that any project works with this three-cylinder engine. If any one is not firing then the project is a failure.


Biggest Weakness:

I have absolute faith in people and think that all people are honorable and will do the right thing. I then realize that some people I seek to work with are not like that. It can be a rude awakening.


Mentor:

My stepfather, Bruce McNall, the former owner of the Los Angeles Kings. He clearly illustrated to me what to do and what not to do.


Life Goals:

To build community-based projects and places that have lasting positive effect projects that I can be proud of.


Biggest Regret:

Not having our act together and competing for the Grand Avenue Redevelopment. That project has the potential to leverage all that is a trending good into something that is a lasting great.



& #8226; Sean Collins



Age:

31


Title:

Project Manager


Company:

Hammel Green and Abrahamson Inc.

Education: Bachelor of architecture, USC


Job Description:

Acts as conduit between project owner and HGA, overseeing everything from planning, scheduling and finances to coordinating the activities of his team.


Starting Out:

My first job after graduating from USC was with Wou & Partners, which merged with HGA in 2001. After I got into the field, I realized I was more drawn to the project management side of the business. It was my boss, Leo Wou, who suggested that to me when I first interviewed with him. He said, “You know, you’re not the typical architect. You seem more business-oriented.” But it wasn’t until 3 & #733; years ago that I managed my first project.


Biggest Projects:

The renovation and expansion of the California African American Museum at Exposition Park. Construction hasn’t started but it’s scheduled to be completed in 2008. The biggest is a 150,000-square-foot community center and park in Hollywood called Center of the Universe, which is in the fundraising stage.


How to Get Ahead:

I definitely speak my mind and take the initiative. I tended to take on more responsibility early in my career than I had to, to challenge myself. That’s what helped me move up more quickly, because experience is what matters in this business.


Specialty:

Mostly health care facilities, but recently I’ve been involved in civic projects. I’m also trained in green or socially responsible design and two years ago became a LEED-accredited professional, which stands for Leadership in Energy and Environmental Design.


Mentor:

David Noferi, the health care principal at our office. He gives you the opportunity to prove yourself. He’s also a role model for being a diplomat both with clients and within the team.


Biggest Challenge:

Convincing clients to go with a green building, that it’s not only good for the environment but also their pocketbook in the long run because of lower energy and maintenance costs.



& #8226; Kevin Ehrhart



Age:

32


Title:

Partner


Company:

Allen Matkins Leck Gamble & Mallory LLP


Education:

B.S., foreign service, Georgetown University; J.D., USC


Job Description:

Represents buyers, sellers, and developers of a variety of real estate including hotels, business parks, golf courses, and undeveloped land.


Starting Out:

I grew up in the ’80s in L.A. watching downtown come out of the ground. I was always just fascinated by it. In college I decided I wanted to go into real estate but I just didn’t really know which side and at that time there wasn’t much of a real estate market so I went to law school.


Biggest Deal:

I was heavily involved in the redevelopment and modernization of the L.A. Air Force Base in El Segundo. That base was basically an office complex owned by the Air Force and was slated to be shut down by the Pentagon because the office buildings were all very old and seismically unstable. Our client came in and built a brand new campus facility for the Air Force.


Secret to Success:

I have a very good business understanding of real estate. Some lawyers can lose the business deal in the legal minutiae. You always have to pay attention to the legal details but we try to be helpful to our clients and be dealmakers not deal breakers.


Biggest Frustration:

Some people view their attorneys as pretty fungible. “If Kevin doesn’t do it, we’ll get John to do it and there’s no difference, they’re all just lawyers.” I very much like to think that my clients view us as anything but fungible or expendable. We laugh at all the lawyer jokes but I’d like to think that our industry could do a little bit better.


Advice:

You have to understand first and foremost that this is a service industry and you have to serve your clients well and do so all the time. That doesn’t just mean drafting the best document ever or demonstrating that you’re smarter than everyone else. It means returning phone calls quickly and being available and making the client feel comfortable and know they can trust you.



& #8226; Paul Fuhrman



Age:

35


Title:

Partner


Company:

Latham & Watkins LLP


Education:

B.A., economics, UCLA; J.D., Loyola Law School

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ob Description:

Real estate and finance partner working with developers, owners, real estate investment trusts and lenders.


Starting Out:

My family is involved in real estate and owns multi-family projects. When I was in UCLA as a 19 to 21 year old, I worked for a real estate developer to gather experience.


Biggest Deals:

I purchased and renovated a hotel in Beverly Hills called the Crescent with three partners in 2001. For the company, I was involved in Robert Maguire’s $1.5 billion acquisition of the Commonwealth portfolio of office properties.


Trade Secrets:

I try to establish a rapport and be relatively disarming with all my clients.


Biggest Challenge:

I have to remind myself that I am the lawyer and not the businessman and that I should not be making decisions for my client.


Hardest Lesson:

In real estate you have to understand not only the business but also the partners you work with. Not knowing them can become an issue in a lot of joint ventures.


Life Goals:

To have a successful law practice with clients I enjoy working for. I would rather work for a straightforward case with an easy client than on a more difficult case but a difficult client.


Biggest Frustration:

To ensure that your client appreciates what you do. A lawyer has to think of all the unthinkable risks and all the potential pitfalls and sometimes clients don’t want to hear about them. It is challenging and part of the job.


Bedtime Worries:

The things I may have forgotten to worry about.



& #8226; Josh Gorin



Age:

33


Title:

Senior Managing Director


Company:

Studley


Education:

B.A., English, University of Michigan; J.D., Loyola University Chicago


Job Description:

Oversees national accounts, builds teams and leads negotiations in both the consulting and brokerage divisions the commercial real estate advisory firm. He is Studley’s youngest managing director.


Starting Out:

I began meeting with real estate firms and working in real estate while I was in school. I went to a boutique real estate firm after graduation, but was recruited to Studley’s Chicago office a year later.”


Biggest Deal:

The 250,000-square-foot consolidation for the American Bar Association in Chicago two years ago that was worth $140 million. I also was involved in three of the largest recent land sales in downtown Chicago.


Secret to Success:

Both my law and English degrees help. I’m good at both creative and analytical work. I enjoyed the creative process of writing, and law school to me was a logical progression.


Mentor:

The man who hired me, Jacque Ducharme, who is Studley’s vice chairman, has taught me a lot about disciplines of patience and persistence.


Hardest Lesson:

I kind of grew up thinking that there was no substitute for victory. I’ve since learned how to learn and advance from setbacks.


Attraction to Job:

I like the fact that the stakes are very high. You’re dealing with highly sophisticated people and very challenging and complex issues. The nature of this business has changed dramatically over the years from a business that’s about finding space and horse-trading economics to one where you have to have more sophisticated understanding of issues.


& #8226; Cameron Izuno



Age:

29


Title:

Associate Architect


Company:

Levin & Associates Architects


Education:

Bachelor of architecture, USC


Job Description:

One of 11 associates at the firm. Helping redesign the Los Angeles Herald-Examiner building for residential, office and retail space use; duties include creating the schematic drawings and working with developer Urban Partners and consultants.


Starting Out:

I’ve wanted to be an architect since I was in the third grade. In high school, they had drafting (software) on computers. I placed fourth in the state in a vocational and industrial arts competition. I was one of the few selected for an internship at USC with HOK (a design firm). When I graduated, I started at only $30,000.


Biggest Projects:

The Herald-Examiner is the big one. The other one is the Metropolitan Lofts, located on 11th Street and Flower Street when I was with Johnson Fain, where I worked for five years before coming to Levin & Associates.


Mentor:

When I was at Psomas (an engineering firm), there was Mary Nastronero, who was a senior associate. I really learned a lot about planning there the large scale of these projects. It was daunting at first. She helped me understand the differences in scale going from feet to acres. You have to think on a much broader scale, planning traffic patterns, what kinds of grading you need and environmental mitigation.


Pet Peeves:

When you are in school, you are conditioned to work on design. A lot of graduates that come out of school think that’s pretty much what they are going to do. But design is probably 20 percent of your early work, or if you are at the bottom of the totem pole, it might be nothing. You draw bathroom details and collate drawings and send them to the owners and consultants. When we first graduated, we called ourselves CAD monkeys.


Secret to Success:

I’ve worked on all three disciplines: planning, interiors and architectural. Some people don’t do it all. It really helps me to understand what I am doing. The more complicated projects incorporate all three.


Life Goals:

I want to be licensed. Eventually, I could work on my own. But you need a clientele to develop that. So it remains to be seen whether or not I can take that path.



& #8226; Hugh Jackson



Age:

33


Title:

President


Company:

Golden Boy Partners, a joint venture of Highbridge Partners and boxer Oscar De La Hoya’s Golden Boy Enterprises


Education:

B.A., economics, M.B.A., bothfrom UCLA


Job Description:

Create, manage, and grow the organization, meet investment goals, and evaluate developer/partner relationships.


Starting Out:

I think I’m entrepreneurial and that’s what (Highridge CEO) John Long saw in me. He is the entrepreneurial mentor that I look to in this business. He is also someone who has vision and an excellent business sense. He identified me as someone who was hungry and had the technical skills, obviously through being a CPA, having an M.B.A. and working for some large organizations.


Hardest Lesson:

Learning to manage a large organization was very challenging to me. Once you can communicate a vision, a strategy and a business model, and it resonates with employees and partners, then you’re at a point where you’re on the path to success. Creating a coordinated vision is extremely important and that’s something that I’ve always tried to do since then.


Greatest Challenge:

The real estate environment is a debatable bubble. We don’t buy stabilized assets. We look for opportunities where we can create a completely different real estate project, and even those opportunities are impacted by this bubble environment. Right now we have to be very selective in the projects we choose.


Pet Peeves:

Real estate can be a slow process and sometimes it doesn’t move fast enough. There are a lot of parties that we deal with, whether it’s current owners or cities or other organizations. Real estate can sometimes operate on a different timeline and I like to accelerate that timeline sometimes.


Advice:

To view real estate as a local business.


Bedtime Worries:

I have a hard time turning off at night. I think I’m a chronic insomniac, and I think I share that with the other principals at Highridge. My main concern is finding deals that are compatible with our vision and our strategy. When it comes down to real estate you’re always evaluated on the projects and deals that you do, so right now I think that keeps me up at night.



& #8226; Hoonie Kang



Age:

32


Title:

Vice President


Company:

Kearny Real Estate Co.


Education:

B.A., economics, Harvard University


Job Description:

Acquisitions, asset management, disposition and all aspects of real estate development.


Getting Started:

I supervised the transfer agency for Liberty Mutual Funds in Boston for eight years, and then came back to Southern California. I got this idea for a startup business tutoring students for the SAT. I had some success, but I missed corporate finance. My best friend from high school convinced me the stock market was pretty much an afterthought here on the West Coast, and that the hot industry was real estate. When he went back to business school, his analyst spot at Kearny opened up and I dove in.


Biggest Deal:

By far the Los Angeles Air Force Base. It was literally my second day on the job when (Kearny Managing Partner) Jeff Dritley came into my office and said, “Let’s go chase this deal.” That was four years ago. The deal had so many different entities federal, state and local agencies and so many complex issues that it’s unique even within real estate circles. Project costs are around $500 million and it involved annexing land from El Segundo to Hawthorne. You could say I grew up in the industry on this one mega-deal.


Hardest Lesson:

Hard work alone doesn’t always mean success. If two hundred deals come across our desk, we’ll bid on 10 or less, and move forward with two or three a year. Real estate development is a long process and skills like patience, creativity, and balancing diverse groups of people (with) different agendas are essential.


Career Goals:

To bring my own deals into the company that are more stable and consistent. Things like value-added industrial and office rehab that are in the $15 million-plus range.


Mentor:

In real estate it’s Jeff Dritley. He’s given me so much room to run at Kearny and displayed confidence in my abilities. Outside of business, it would be my father. He runs a landscaping firm in Orange County. He said to find an industry where you were not expected to work 120 hours a week just to stay competitive.


Biggest Fear:

Probably just getting bored or restless. Being challenged is the key to what keeps me going.


On Being Young:

The industry as a whole is getting younger. People coming out of business school are picking real estate as their top choice, where as in years past, it was the tech industry or investment banking.



& #8226; Mike Lowe



Age:

36


Title:

Executive Vice President and Chief Investment Officer


Company:

Lowe Enterprises Inc.


Education:

B.A., economics, Stanford University; M.B.A., Stanford Graduate School of Business


Job Description:

Oversees direct investments made by firm, which invests in, develops and manages real estate projects.


Starting Out:

I started with a financial analysts’ position with LaSalle Partners. That was coming out of Stanford undergrad in 1991. Then I worked at Cushman Realty in Los Angeles and New York. And then I went to business school and then on to Lowe Enterprises after graduating in 1997. My father had a very significant role in my choosing real estate because he had success and enjoyed his career.


Biggest Break:

I would say it came from Bob Lowe (my father) of Lowe Enterprises for his willingness to have me take employment with Lowe Enterprises in 1994. Frankly when I was looking for job opportunities coming out of college in the early ’90s, it was not a strong job market so I was forced to be flexible in my career choices.


Secret to Success:

It starts with strong friendships and relationships in the business. I put a lot of time into making sure our investment partners are treated well.


Hardest Lesson:

You can never take an important relationship for granted. You learn a lot from your clients and they are the most important thing to the business, so when you make mistakes in the past you learn from them and make sure you never repeat them.


Life Goals:

I would want to be successful and follow in my father’s footsteps in building a great organization and giving back to the community.



& #8226; Joseph Mani



Age:

33

Title: Chief Operating Officer


Company:

Mani Brothers Real Estate Investment Group


Education:

B.A., art history, Boston University


Job Description:

Manages 1 million square feet of Class-A office space. Oversees day-to-day operations, leasing, management, maintenance, rehabilitation and tenant improvements.


Getting Started:

The family business is real estate. The Mani brothers were in the bread business and acquired real estate on the side. One of the brothers is my father. I planned to go to law school, but I had always wanted to work with the family. My involvement here has a lot to do with the legal work we do. All the legal work goes through me. It’s the best of both worlds.


Family Ties:

It has a lot to do with (my success). But at the same time we continue to grow together so there are a lot of new elements that continue to come into the picture. Work isn’t always a family environment. It’s work.


Biggest Deal:

It was 801 S. Figueroa. The acquisition was for 460,000 square feet and it cost over $100 million. We acquired it from Commonwealth Partners in 2003 in an off-market transaction.


Biggest Weakness:

Not being able to delegate certain tasks that end up bogging me down.


Hardest Lesson:

Double check everything. If you aren’t watching what you’re doing someone will always take advantage of that.


Mentor:

My father. I’ve learned everything that I know from him as far as business.


Biggest Frustration:

Dealing with government agencies and local authorities in development and trying to get things approved. They are always a roadblock. It took one year to get a 500-square-foot patio expansion approved and we ended up losing a tenant.


Biggest Worry:

Everything. I go to bed worrying about the deal that I’m working on that day and what I have to do to finish it tomorrow.



& #8226; Loren Montgomery



Age:

36


Title:

Partner


Company:

Latham & Watkins LLC


Education:

B.A. English, Princeton University; J.D., Duke University School of Law


Job Description:

Represents developer on projects with land use entitlement issues. Has been at the firm for eight years and obtained entitlements or completed public approval process on more than 30 projects. Works on five to 15 projects at a time.


Starting Out:

After college I did a nine-month Coro Fellowship in public affairs. I worked in eight different sectors, including a union, a traditional business, political campaign and non-profit organization. Every month you worked at a different sector. At night, we had meetings and interviews with a cross section of influential people in Los Angeles. It gave me a great understanding in how the different sectors depend upon each other.


Biggest Deal:

I helped guide political, community and business plans for Hearst Corp. when it was considering the disposition of the 82,000-acre property that surrounds Hearst Castle. It took four years of complicated negotiations that closed this February.


Secret to Success:

The secret is to not cut corners and meet and hear from everybody on every side. Be up front from the beginning. If you don’t, you have an entitlement that is at risk of being challenged.


Long-Term Goals:

Doing a variety of cutting-edge projects while keeping up the difficult balance of being a mother of two young children. Being an attorney at a big firm like this we are available 24 hours a day for our clients. With both pregnancies, I worked 50-hour weeks regularly right up until giving birth.


Biggest Worries:

You need to always plan for the worst and cover your bases. In public hearings, you can’t control what is going to be said. You just need to make sure you have already analyzed every facet of it, done all the up-front work and can respond on your feet.



& #8226; Lee T. Norman



Age:

36


Title:

Senior Vice President, Principal


Company:

George Smith Partners Inc.


Education:

B.S., finance, USC; M.B.A., Cox School of Business at Southern Methodist University


Job Description:

commercial mortgage broker.


Big Break:

(George Smith CEO) Gary Mozer hired me when I was a senior in college as an unpaid intern and he’s the one who gave me the opportunity. There were three or four interns hired at the same time and I was the only one that they kept. This was back in 1990, 1991 when nobody was hiring in real estate.


Biggest Deal:

It was a 90 percent loan for the acquisition of a $300 million hotel and office portfolio in the mid-’90s. Last year the company George Smith Partners did $2.84 billion in financing and Gary and I did approximately $1.1 billion of that with our team.


Secret to Success:

It’s persistence and hard work. Good old elbow grease is just about as good as anything.


Hardest Lesson:

Coming to the realization that it doesn’t matter if I make another dollar if I’m not there to see my daughter’s first ballet recital. It’s a hard lesson to learn when you have five real deals burning a hole in your desk and your daughter is saying “Daddy I really need you to come home.” It’s the mushy stuff that matters. I’ve got three daughters and I’m great at tea parties.


Advice:

Almost anyone can be taught real estate finance but there are three things it takes to make it in our business: integrity, honesty and what we call fire in the belly. You either have the drive to do it or you don’t because we’re 100 percent commission guys.



& #8226; Douglas A. Praw



Age:

29


Title:

Associate

Company: Pillsbury Winthrop Shaw Pittman LLP


Education:

B.A., political science, Washington University in St. Louis; J.D., Southwestern University School of Law


Job Description:

Lawyer representing buyers and sellers in office and industrial real estate transactions. Also represents developers of master-planned communities in negotiating land use, planning and government approvals, and lenders and borrowers in real estate financings.


Getting Started:

My dad is in real estate and growing up I always followed along with what he was doing. When I was in college I worked for a developer.


On His Father:

He’s a very hard worker. He always led by example.


Biggest Deals:

The $1.5 billion portfolio sale from Fifth St. Properties to Maguire Properties. Also, the former Belmont Learning Center (now Vista Hermosa) for LAUSD. It was interesting because it was taking a high-profile piece of property and making it into a use that was good for the community.


How to Get Ahead:

I’m a hard worker, and I like what I’m doing.


Hardest Lesson:

To not get discouraged. You’ll have good days and you’ll have bad days. It’s a function of coming back and still fighting hard the next day.


Pet Peeves:

When older lawyers call me son or junior.



& #8226; Kevin Ratner



Age:

38


Title:

Senior Vice President


Company:

Forest City Development


Education:

B.A., history, University of Wisconsin, Madison; Master of real estate development, USC


Job Description:

Initiate, entitle, develop, design, lease and sell residential real estate.


Starting Out:

I was born into a high-energy family of developers. But even though real estate is probably in my DNA, I came to L.A. to be in the music business. I realized it wasn’t the career for me. I co-founded an Internet startup and rode that wave for four years. After we sold the company, I was looking around for something to do. After a while, I put my tail between my legs and went back inside the family tent.


Mentors:

Obviously without the family connection, I would not have had the kind of opportunities I’ve had in this industry. But it was Greg Vilkin, who is not a family member but oversees all Western States residential development for our company, who’s been my mentor. He showed a lot of confidence in my abilities from the day I started here.


Secret to Success:

Every single deal is like a little business unto itself. Persistence and blind optimism are really key. The qualities that also are essential are problem solving and the ability to influence people.


Biggest Fear:

The way we’ve gone out on a limb on our marketing and design for our condos and apartments. We took chances with Met Lofts and 1100 Wilshire, pushed the prices, and we’re not sure what the response will be. I could have built something exactly like all the other condo developments downtown, but who needs that? It’s a risk-reward approach, and, frankly, it can be scary, if you push the envelope too far.


Pet Peeves:

I have a hard time with how static real estate can be. Things are done the way they’ve always been done. There’s not enough creative thinking.



& #8226; Tyson Sayles



Age:

31


Title:

Executive Vice President


Company:

KOR Group


Education:

B.A., architecture, Universityof California, Berkeley


Job Description:

Managing an acquisition and development group.


Starting Out:

I had a keen interest in fine art drawing, and painting as well as math and science. I wanted something that tied together the drawing and the math, so I went to UC Berkeley to study architecture. Once I was in school, I realized the most meaningful decisions in building were made by the developers, not architects.


Biggest Deal:

Pegasus, a 300-unit adaptive reuse luxury project in downtown L.A. Not necessarily in dollar volume, but in scope and complexity. We went to 30 lenders and had three quotes at a time where there was no real residential boom in downtown. We had to get approval from the National Park Service to make modifications because the site is listed as a National Register Landmark building.


Toughest Lesson:

It’s better to make an informed decision now than the best decision later. Action is essential in this game. You simply can’t afford to be indecisive. The other big lesson is that market analysis is always in the rear view mirror. Changes in the market often rush past all the analysis you’re given.


Secret to Success:

I learned from my grandfather never to make excuses for not getting the job done right. The people who have put their trust in me know I will never cut corners; that I’m not out to just sling the next deal and make a fast buck. Of course, we’re all trying to generate a financial return for the company.


Biggest Frustration:

L.A. is a city with very outdated zoning and building codes. It’s a city full of well-intentioned people who want to make the process better. But they are handicapped by suburban development standards from 30 years ago. Things have not kept pace with today’s market and it can be difficult and complicated to work within these outdated standards.



& #8226; Stephen Somer



Age:

34


Title:

Senior Vice President


Company:

Secured Capital Corp.


Education:

B.S., business, USC


Job Description:

Finding opportunities for the boutique real estate investment bank.


Starting Out:

I got an entry-level market research position at Cushman Wakefield Inc. in 1993. I was updating their real estate database, but eventually began doing more analytical work for the brokers. I was feeling kind of stuck when I had the chance to become a junior leasing manager for Prudential Realty’s management arm, Premisys, in late 1994.


Biggest Deal:

The sale of Commonwealth Partners’ office portfolio for $1.5 billion this March.


Attraction to Job:

It’s really fun to close a deal where the buyer and seller both walk away happy. I also like my work environment. Secured’s business model is very team-oriented, in which no one competes internally. That’s very different than a traditional brokerage, where everyone is really their own business within the company and can be competing for the same deals.


Mentors:

I’d say Secured Capital principals Steve Silk and Jay Borzi, whom I knew from my time at Cushman in the early 1990s. In this business you can get caught up in a lot of minutiae, and Steve and Jay are great about reminding you to focus on the big stuff.


Secret to Success:

I’m always ready to get on the phone and talk to somebody at any time.


Biggest Concern:

Right now we’re in a very strong market, but there’s always the fear that real estate could fall out of favor. Even so, I think we’ll still have a strong environment for a number of years yet.



& #8226; Keith Wolff



Age:

38


Title:

President


Company:

Wolff Urban Development LLC


Education:

B.S., business, University of Pacific; M.B.A., Harvard University


Job Description:

Oversees acquisition, development and management of real estate projects with a focus on hotels.


Starting Out:

Warner Bros. was a great experience out of undergrad. They had a very small real estate department at the time, so I traveled around the world and did the financial analysis for different projects. I really wanted to learn what it was like to be part of a bigger company, but I knew I was going to go back and work with our family company. We’re very hands-on and we just do a few projects a time.


Most Valuable Experience:

I actually ran the Burbank Airport Hilton project, which was in trouble in the early ’90s. I worked every position including housekeeping and front desk. That was extremely valuable. It’s really about being hands-on and being involved in every process.


Biggest Deal:

The Oakland A’s development project. It may include the ballpark, surrounding parking, an entertainment district, and significant multi-family residential development. The project may exceed $1 billion in total development costs. I’m actually flying around the country looking at all the existing ballparks with our designers. It sounds like a lot of fun but it’s actually a lot of work.


Pet Peeve:

I’ve learned that follow-up and organization are so critical. I’ve actually been surprised we’ll call someone we’re trying to buy something from and they won’t call us back for four weeks. One thing I’ve learned in this business is to call people back the same day.



*The interviews were written by Deborah Crowe, Sarah Filus, David Geffner, David Greenberg, Katherine Gray, Spencer Kallick, Lizbeth Scordo and Aarthi Sivaraman.

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