Partner, real estate services and national director of REIT practice
Deloitte & Touche LLP
Specialty: Real Estate
It is not uncommon for Doug McEachern, a partner in real estate services for Deloitte & Touche LLP in Los Angeles, to spend weeks working up a deal only to see the whole thing fall apart. But he shrugs it off as "part of the process."
"It happens all the time," said McEachern, who has been working in accounting and real estate for more than 22 years. "We put a great deal of time putting together two organizations that we think will mesh and then it simply doesn't pan out. It's par for the course."
McEachern wears several hats at Deloitte & Touche. In addition to helping link up clients with investors for public offerings, he manages the company's REIT practice on a national basis. And McEachern has had his work cut out for him lately, with a depressed REIT market taking a bite out of shareholder returns.
Most recently, McEachern has been helping his REIT clients refocus their tax structure to maximize the bottom line. "We are looking to minimize the tax burden as much as possible for the companies and help them find the most effective situation to meet their needs," he said. "Also we are looking to reduce expenses for the REIT and their tenants."
During McEachern's tenure at Deloitte & Touche he has arranged a variety of noteworthy initial public offerings. He was the lead partner on the 1993 offering by Alexander Haagen Properties Inc. (now known as Center Trust), which raised $200 million in common equity and $200 million in convertible debt from the public. Most recently, he put together the public offering for Kilroy Realty Corp., a $290 million deal.
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