A: My first interaction in the multifamily industry was in banking, working out multifamily debt … in the mid- to late-’80s, in the last major downturn.
Q: What do you enjoy about working in the multifamily industry?
A: Multifamily is the most stable and predictable asset class in real estate and provides a relatively low beta investment, and the ability to invest capital in this arena and work with so many good people in our industry and in our company is very rewarding.
Q: What’s the best advice anyone ever gave you about your career?
A: Stay true to your values.
- Gregg Bloomberg has joined Reznick Group as a principal. He will serve as the head of the tax practice in the firm’s recently opened Los Angeles office. Prior to joining Reznick Group, Bloomberg served as director of tax for Westfield Corp.’s West Coast operations.
- Patrick Brosnan has been named president and CEO of Legat Architects. The promotion is part of a third-generation leadership transition of the firm, where Brosnan will be responsible for the strategic direction and day-to-day management of firm operations. Brosnan has been with the firm since 1988.
- Atherton-Newport Investments has named Brett Lay its new CFO. At the helm of Atherton-Newport’s financial operations, Lay will assist the real estate investment firm in the expansion of existing investment markets across the country and to reach its annual goal of investing and developing $600 million in residential real estate in the 2007 calendar year. Most recently, Lay was an independent financial advisor specializing in asset valuations, capital structures, mergers, and acquisitions.
- Yvonne Schroeder de Orr has been appointed general counsel at Passco Cos., where she will manage all legal affairs for the real estate company, which specializes in 1031 tax exchange opportunities.
- JPI has named Mark Bryant divisional president and managing partner of the JPI central residential and student living investment division. He has been with JPI since 1998.
- Nestor M. Nicholas has joined Boston Capital as general counsel. In accepting this position, Nicholas retired from the law firm of Nixon Peabody, where he had represented Boston Capital as a client for several years.