Special Report Who’s Who In Real Estate: John L. Strauss

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John L. Strauss has come a long way since working at a family restaurant and inn during his teenage summers.

But that experience took him on a journey that led him to jobs at the Beverly Wilshire and PKF Consulting before joining Jones Lang LaSalle Inc., where he is a managing director of its West Coast hospitality team, 15 years ago.

Strauss has been involved in more than $2 billion in hotel trades during his time with Jones Lang LaSalle, brokering deals for resorts and boutiques stretching from Hawaii to the Mountain West.

“There are two rewarding aspects to my role,” Strauss said. “The first is growing our business and being selected by reputable owners to exclusively list and sell their hotels. The second is leading my team to become the best providers of hotel brokerage services in the United States.”

The 42-year-old Strauss, who has been involved in the sales of the Sheraton Universal City, Doubletree Downtown Los Angeles and Radisson Hotel LAX, to name a few, sees the market emerging in Los Angeles, the second largest hotel market in the country.

He said the hotel industry is particularly strong in West Hollywood, downtown Los Angeles and in Pasadena.

“The excellent supply-and-demand fundamentals, combined with the favorable capital markets, are creating an ideal trading market for hotels,” Strauss said. “They offer a premium yield compared to other forms of commercial real estate, making them a targeted asset class.”

Still, even in improving market conditions, finding the right buyer – whether a private equity firm or high-net-worth investor – is a needle-in-the-haystack process, according to Strauss. What’s more, buyers are often still less aggressive in taking on debt and lenders remain more cautious after the recession.

“Picking a buyer is the most challenging part of putting together a hotel transaction,” he said. “A combination of instinct and running a competitive and thorough marketing process makes this possible.”

But he would not have it any other way.

“My role remains exciting,” he said.

– Justin Yang

Broker

John L. Strauss

Title: Managing Director

Company: Jones Lang LaSalle Hotels & Hospitality Group

Location: Los Angeles | Age: 42

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