Toby Bozzuto, The Bozzuto Group

Daniel Broderick, Cassidy Turley – San Diego

Chad Buchanan, Tryko Partners L.L.C.

Andres del Corral, Blanca Commercial Real Estate

Lauren Crowley Corrinet, CBRE Consulting Group

Brian Eisendrath, CBRE Group Inc.

Scott Hartstein and Steve Milona, Case Real Estate Capital L.L.C.

Robert Hodge, Behringer Harvard

Joe Judge, Jones Lang LaSalle Inc.

Melissa Marcolini-Quinn, NorthMarq Capital

Malcolm Marshall, Cushman & Wakefield Inc.

John McDonald, Hudson Realty Capital L.L.C.

JoAnn McGuinness, Inland Real Estate Income Trust Inc.

Matt Mousavi, Faris Lee Investments

Gilda Perez-Alvarado, Jones Lang LaSalle Hotels

Larry Sajdak, Inland National Real Estate Services L.L.C.

David Schechtman, Eastern Consolidated

Memorable Achievements: Working with the development group to start more than 2,500 apartment units valued at over $650 million in the past one-and-a-half to two years—the most prolific in the Mid-Atlantic developer’s 25-year history. Formulating a $150 million equity fund in partnership with Pritzker Realty Group in 2010, during the depths of the recession. Since then, Washington, D.C., has taken off as a favorite market among investors, and the wisdom of the partnership has been vindicated. “We recognized this as a contrarian play—that it was a good time to find development opportunities when others were on the sidelines,” said Bozzuto.

What Others Say About Him: “First off, he is a first-class guy. He is a very stand-up, very honorable, very ethical young man,” said Richard Mostyn, vice chairman & COO of The Bozzuto Group. Mostyn, who co-founded and is co-owner of the company, has known him since Bozzuto was in grade school and says he is “a terrific deal maker. He understands real estate. He understands how to make a deal work. He understands all parties need a win-win to make the deal a success.”

Secrets to Success: “The best I can tell, there are no secrets. I have found that a combination of hard work, integrity and kindness to others is the key to success.  Surrounding (ourselves) with people that have similar values and work ethic has allowed us to grow our business and enjoy a wonderful reputation. We must earn this reputation every day.”

Best Advice Received: “I am a third-generation Italian-American, and my ancestors were very poor and came to America with almost nothing in their pockets. My father always tells me to remember where we came from. In other words, regardless of how much success we may achieve, we need to remain extraordinarily humble and never forget who we are.”

Advice to Others: Lions of the real estate world may rest on their laurels, but not Bozzuto. “You are only as good as what you can do tomorrow. Stay extremely humble, maintain your humility and respect for others that you work with, and do what you say you would do. … Our most important value is integrity. If you can live life by that value, then success will follow.”

— Keat Foong

More details on the accomplishments of CPE’s 2013 Stars to Watch appeared in the May 2013 issue. 

Memorable Achievements: In 2012, Hudson Realty acquired $175 million in outstanding principal of mortgage loans. The portfolio bids group acquired the assets in six separate transactions, three of which closed in the same month. McDonald was involved in the underwriting, analysis and bidding of the transactions, and in the creation of the new portfolio bids platform.

What Others Say About Him: “John has an ability to synthesize a great amount of data and still be able to look at the big picture of the transaction. That is a strength we greatly appreciate in this line of business, where there are so many pieces to work with,” says his boss, Renee Lewis, managing director of portfolio bids, praising McDonald for his “calm demeanor. He handles pressure extremely well.”

Greatest Challenges: Creating the new portfolio bids platform at Hudson Realty and “working through one of the toughest real estate cycles.” Also, “creating an appreciation and insights into the position of the other party. Constantly maintaining and building relationships is also helpful.”

Secrets to Success: “Persistence; creativity; trying to be someone whom I would want to work with.”

Best Advice Received: “If it is not legal, then it is not a business,” said McDonald’s father, and that advice has stuck with him. Another piece of advice came from a colleague: “Don’t buy green bananas—don’t purchase an asset if it is not ready to be purchased yet.”   

Advice to Others: “Stay true to your moral compass. Your reputation is extremely important.”

— Keat Foong

More details on the accomplishments of CPE’s 2013 Stars to Watch appeared in the May 2013 issue. 

Memorable Achievements: Last year, he closed $213.4 million worth of deals, including work on “the marquee assignment of my career,” a long-term assignment to dispose of about $150 million worth of Ruby Tuesday properties through sale-leasebacks. The deal, gained through a referral by a client for which he had closed an $800,000 deal, represents the largest restaurant sale-leaseback offering in the country and the first time a publicly traded restaurant company has offered a sale-leaseback to the private market. Mousavi has sold about 35 of the properties thus far, working through a two-phase assignment. In addition to sale-leasebacks of the Ruby Tuesday portfolio, in December of last year he purchased Lahaina Gateway Center in West Maui in a $32 million off-market deal that took eight months to put together for an Irvine, Calif.-based REIT. Central Pacific Bank’s largest REO property, it represented a record-breaking sale for a leasehold despite issues with tenancy, the ground lease and at the property level. He also represented both the buyer and seller on the $30.1 million sale of Wainei Town Center. The seller had purchased the property 18 months prior for $26.5 million, there was a loan assumption in place, and it was an old property with seismic issues, deferred maintenance and tenants that were leaving.

What Others Say About Him: Mentor Larry Casey, president & COO of Donahue Schriber, finds him “very energetic and passionate about his work … straightforward, honest, a good communicator” and very thorough with analysis. Faris Lee president Rick Chichester also termed him  passionate, saying he is “uniquely dedicated” and someone who “understands what it takes to be successful in business,” with a good understanding of both the financial side and marketing. “He really understands all aspects of retail investment sales.” That ability has stood him well with the Ruby Tuesday deal, Chichester noted, as he can relate to both the real estate’s value and the financial impact on the share value of a public company.

Greatest Challenges: Besting the competition. “You’ve got some very smart people out there.” Also, overcoming objections to his youth, and disconnecting from work. He added: “I like being the underdog and I like showing my skill set.”

Secrets to Success: “Always be ethical, know what you’re going to do and how to behave.” Hard work,  perseverance, persistence, transparency and openness. “And strive to be the best at what you do.”

Best Advice Received: His father advised him to work hard, truly believe in yourself, respect yourself, have integrity and be honest and good to people, and good things will happen to you.

Advice to Others: Have a long-term approach and respect the business and the industry. Know yourself—what you’re good at and what you’re not good at. Find your calling and motivate yourself.

—Suzann D. Silverman

More details on the accomplishments of CPE’s 2013 Stars to Watch appeared in the May 2013 issue. 

Greatest Accomplishments:“Leaving Atlanta to come up here.” Also, refinancing the then foundering Sears Tower in 2006-07 while working for Carlton Group. And at the beginning of this year, closing the purchase of the Crestbury Apartments in Camden, N.J., a very complex transaction two years in the making and requiring rehab work. Wells Fargo financed the affordable housing property with Freddie Mac financing through the HUD risk-share program.

What Others Say About Him: Wells Fargo Multi-Family Capital managing director Thomas Schissler calls him very professional and efficient, someone who “gets it.”

Best Advice: Mark Snyderman told him in late 2007: During the last major real estate downturn, the younger guys were laid off, and most of them left the industry. Those that held on were able to find gainful employment if not excel, and when the market recovered, those that had stuck it out became the leaders of the industry in the next cycle.

Greatest Challenges: Balancing work and family: He has two children, a three-year-old daughter and a five-year-old son. “Always try to be the best you can be in both places.”

Secrets to Success: “Doing what I love. I think you have to love it to be successful, because it’s incredibly competitive.” You have to have a work ethic, but if you don’t love it how long does it sustain you?

Advice to Others: Be a good colleague—don’t throw people under the bus, as the industry is incredibly small and people who treat others with respect do get noticed and remembered. Expose yourself to as much of the industry as you can from day one.

—Suzann D. Silverman

More details on the accomplishments of CPE’s 2013 Stars to Watch appeared in the May 2013 issue. 

Memorable Achievements: Sajdak’s first major task after rejoining Inland was moving 100 employees from Inland’s main corporate office into an adjacent building, which he called “baptism under fire. I got thrown in with very little experience, and it really sparked my interest and I moved on up from there.” Another big moment for Sajdak came at Retail Properties of America Inc. in 2009 working as the vice president of asset management. On a Thursday afternoon, he and two peers (along with their chief investment officer) were tasked with building valuation models for 55 properties by Monday morning in connection with a $625 million debt refinancing transaction. “It was the first time in my career that I ended up pulling a couple of all nighters. It felt like I was back in college a little bit, but we were actually able to find about $50 million in additional value for the company.”

What Others Say About Him: “Larry is extremely knowledgeable on all aspects of the business of property management,” said Tim Hutchinson, COO of The Inland Real Estate Group of Cos. “Working with Larry means he likely already has answers to the questions you come up with regarding the details of properties, their tenants or any potential challenges that you see. Going along with this are his employee management skills. He develops teams that are very nimble and responsive, and push themselves due to his example.”

—Mike Ratliff

More details on the accomplishments of CPE’s 2013 Stars to Watch appeared in the May 2013 issue. 

Memorable Achievements: Acquisitions his company made in 2009, during confusing times for investors. His team decided to be brave during that period, and invested when prices were at an all-time low, and today, they are watching the fruits of that labor prosper. Last year, Beringer Harvard’s three biggest deals were 22 Water St. in Massachusetts, another one in Wakefield, Mass., and a purchased fund in Pembroke, Mass., setting the stage for a flood of development.

Secret to Success: Being a team player.

Best Advice Received: Mentor Mark Alfieri told him: “Understand the intrinsic value of an asset.”

Advice to Others: Opportunities present themselves only when you’re seeking them. You have to be pro-active, be in the market every day. It won’t fall in your lap.

What Others Say About Him: “Rob has worked very hard to become a rising leader in the apartment business. What sets Rob apart is a ‘can-do’ attitude. He is always willing to go the extra distance to complete an assignment,” said Bob Poynter, senior vice president for Behringer Harvard and CIO for BH Multi-Family REIT I Inc.

—Anna Spiewak

More details on the accomplishments of CPE’s 2013 Stars to Watch appeared in the May 2013 issue. 

Memorable Achievements: For the past two years, Marshall’s team completed 2.1 million square feet of lease transactions and $4.9 billion in aggregate lease value.  Last year, he was named one of the top 10 brokerage professionals in Washington, D.C., by  GWCAR (The Greater Washington Commercial Association of REALTORS).

Best Advice Received: From his high school teacher: “Things are never as good as you think they are, and they’re never as bad as you think they are.” That advice gave him a balanced perspective on a business that changes on a daily basis, allowing him to stay levelheaded and less emotionally involved in deals.

Secrets to success: Plain old hard work and being a team player

Greatest Challenges: Trying to stay positive in the face of rejection. Marshall stays focused and puts on blinders to ignore the negativity surrounding the business.

Advice to Others: It’s important to have mentors making sure you’re being taught the right way. “Folks that seem most unhappy or unsuccessful are those who haven’t thought about the importance of having a mentor in their daily lives.”

What Others Say About Him:  “It’s very pleasant to work with Malcolm. He’s an excellent broker and strategist, he is professional and very well versed in the commercial real estate market here in D.C. and across the United States,” said client Sharon O’Meara, chief administrative officer at Dickstein Shapiro L.L.P.

—Anna Spiewak

More details on the accomplishments of CPE’s 2013 Stars to Watch appeared in the May 2013 issue. 

What Others Say About Him: “One of his secret strategies is to over-deliver to clients so he has them for life. It sounds obvious—and it is obvious—but very few people really do it,” said Robb Johnson, managing director of tenant representation at Jones Lang LaSalle Inc. “Joe is among the most disciplined people I have met in my entire life.” At the same time, “his is one of those rare gifts where he can drop the business personal and be like a regular guy when he is not in the trenches doing client work.” Johnson further described him as hard working, disciplined, honest, trustworthy and “very likeable.”

Greatest Challenges: Not enough hours in the day. “I think time is everybody’s challenge. For me, it’s finding time to spread the gospel to those that JLL does not represent. Meeting with the teams and having the time to make calls and introduce ourselves. We are extremely busy, and it is a challenge to have the time to introduce JLL to those that you know haven’t met with us, because we just have that confidence that if we have an opportunity to meet with a new firm, we are going to have a great shot at winning that business.”

Secrets to Success: Fear is a great motivator. “I think it is my paranoia. All kidding aside, it is real. I think all brokers have it. I am absolutely convinced that I am going to lose all my clients and I am going to be out on the street tomorrow. You just have that fear in your heart where you don’t feel like you are going to pull it off again. I have been fortunate to have this level of production for the last four years in a row, but it could be gone tomorrow. You cannot take your clients or your partners for granted. Focus on what you did as an intern or a rookie in the business. It is time management, it is humility, and it is making sure you have the ultimate trust and confidence in your clients. But the lowest common denominator there is paranoia.”

Best Advice Received: Don’t focus on the money, and create your own style. “I get advice from anybody that is willing to give it to me. I am not sure if I can quote anyone in particular, but a constant theme I have heard that resonates with me is to never focus on the money. If you are in this business just for the money, it is not sustainable. I have also been told to create your own style. You see so many successful partners and brokers in this business and you try and emulate them. But if you are not being yourself, I am not sure if you will truly reach your maximum potential.”

Advice to Others: “You need to be a time management junkie. You need to attack the day with a plan and be very disciplined. Set short- and long-term goals. You need to approach the profession as a career, not as a job. This really changes your perspective and prevents the highs and lows that are really common in our business.”

—Mike Ratliff

More details on the accomplishments of CPE’s 2013 Stars to Watch appeared in the May 2013 issue. 

Memorable Achievements: Last year, Schechtman sold The Chatsworth on the Upper West Side for $151 million. The 110-year-old building had been owned by a private family for 67 years and was sold in the last week of December. He also sold 3.7 acres of land in Queens for $34 million, 57-63 Greene St. in Manhattan for $17.3 million, 21-27 Mercer St. in Manhattan for $18 million and a portfolio of 443 apartments in Washington Heights for $64 million. This year’s assignments include the retail portion of 380 Columbus Ave., a 100-year-old building across the street from the Museum of Natural History that has never been on the market before. The home of the Ocean Grill is listed for $24 million. He is also currently selling a 110,000-square-foot loft office building in the Garment Center with an asking price of $38 million.

What Others Say About Him: Having sat opposite Schechtman at the deal table for the past four or five years, David Peretz, managing principal at East End Capital, says he has his pulse on the market and thus is able to produce potential buyers “you didn’t know about.” He added: “Everyone knows him.” And “he’s really good at helping you get behind the (deals) that are really great opportunities.”

Greatest Challenges: “I talk too much,” he joked.

Secrets to Success: Preparation and “every day building on what I did the day before.” After selling 57-63 Greene St. in downtown Manhattan, he was hired to sell 29 Green St. and 72 Greene St. (with a partner), and then became an exclusive agent for 80 Greene St. Thus, an $18 million assignment was converted into $100 million more in deals.

Best Advice Received: Someone stood up after he made a comment during a Real Estate Board of New York speech in which he commented that seven years is a decent length of time and said, “Seven years will go by with the bat of an eyelash. Time moves very quickly, so you have to continue to make each and every day very, very fruitful.” Have an agenda for each day, and be very regimented. Schechtman has a clicker on his desk and starts at zero every day. “Quality is more important than quantity, but you need to divide up the day so you have a significant amount of quality every day.”

Advice to Others: “The people making a lot more than you, who you believe you want to be professionally, are very likely no different than you socially. Be yourself.” And there’s an opportunity to do something charitable every day. “It’s probably the most important part of my personal and professional life.”

—Suzann D. Silverman

More details on the accomplishments of CPE’s 2013 Stars to Watch appeared in the May 2013 issue.