REDnews Texas ICONS 2024 Issue by Benton Mahaffey

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UPCOMING EVENTS March 20, 2024

Dallas Fort Worth Multifamily & Apartment Summit - 3 Hours of CE Approved April 19, 2024

Houston Commercial Real Estate Summit - 4 Hours of CE Approved April 24, 2024

BOMA and REDnews HealthCare Summit

- 3 Hours of CE Approved April 24, 2024

North Texas Industrial Summit

- 4 hours of CE will be Applied for May 8, 2024

Austin Industrial Real Estate Summit - 4 Hours of CE Approved

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Features

‘Move swiftly’: Real estate attorney predicts 2024 trends Now more than ever, due diligence is an important component of commercial real estate ownership and development.

‘Extra proactive’: Why the right insurance agent is key to managing risk in 2024 Mention rates in a room of commercial real estate professionals and their first thought likely goes to interest rates. As crucial as the actions of the Fed are to development, there’s another rate property owners need to keep tabs on: insurance rates.

Barkitectural Digest: How (and why) to shape Texas' pet-related retail space Top dos and don’ts for shopping center landlords ready to benefit from the $137B pet industry Retail is raining cats and dogs—and foot traffic from their owners, which makes the pet industry a $137 billion good thing for landlords.

REDnews 2024 Houston Industrial Summit- Event Profile

Texas Commercial Real Estate Icons We are thrilled to honor the 2023 REDNews Texas Commercial Real Estate Icons! These esteemed individuals have achieved remarkable success in the commercial real estate industry and we are proud to honor their accomplishments with this special recognition

CORFAC members' final 2023 survey

mixed feelings about market 33 reveals conditions Results are in for CORFAC

International’s year-end 2023 survey of global members. Despite economic uncertainty and inflation causing 67% of respondents to report lower transaction volume than earlier this year, local market business sentiment remains positive for over half of respondents. The sky isn’t Falling: Here’s why we

bullish on CRE In the face 34 remain of economic uncertainties, timing

the market for the acquisition (or disposition) of commercial real estate can be challenging. And while it’s been posed that market timers usually fail, acquisition price is crucial to investment success. REDnews Events: Houston Industrial

36 Summit 37

REDnews Events: Austin Apartment Summit REDnews Events: San Antonio

38 Forecast Summit 39 40

Scoop/People on the Move

CRE Marketplace February Edition

‘Move swiftly’: Real estate attorney predicts 2024 trends BY BRANDI SMITH

Photo Courtesy of Unsplash

Due diligence has always been an important component of commercial real estate ownership and development. Lenders vetted developers. Developers vetted tenants. You know the drill. But now more than ever, that attention to detail has become absolutely critical to navigate the increasingly tricky world of CRE. To shed light on the evolving legal landscape within the industry, REDnews turned to Blake Royal, Shareholder and Real Estate Group Chair at Houston-Based BoyarMiller Attorneys at Law. He’s spent his career representing clients land owners, developers, investors, and municipalities in their joint ventures, development and property management agreements, acquisitions and dispositions, leasing and financing. One overarching theme that Royal highlighted going into 2024 is the increasing importance of due diligence across all levels of the industry. Both

landlords and tenants are now more meticulous in their scrutiny, each vetting the other to mitigate potential risks. Landlords, in particular, are taking a closer look at the financial stability of their tenants, wary of inadvertently assuming the role of a financial institution. On the flip side, tenants are carefully evaluating landlords to ensure they are not dealing with entities that might pose financial risks down the line. In this era of heightened caution, there is a group maneuvering with ease. “My clients who are well capitalized have been able to win high-quality deals because they can move swiftly,” shared Royal, who has a background in both real estate law and corporate transactional law. He also emphasized the significance of due diligence in the context of sellers

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Photo Courtesy of Pixabay

scrutinizing potential buyers. Even when deals seem promising, sellers are approaching transactions with a discerning eye to ensure that buyers have the capacity to close successfully. This trend again underscores the critical role that well-capitalized clients play in the current market, as their financial strength positions them to emerge victorious in negotiations and transactions. Among 2023’s standout cases for Royal, whose practice includes all facets of real estate development in Houston and beyond, was the successful closure of a development loan for the first phase of a multi-building industrial development. Despite facing delays related to permitting issues, the collaboration with a patient and supportive lender proved invaluable.

Looking at the year ahead, Royal anticipates a potential make-orbreak scenario for property owners. While not necessarily a new issue, the challenge lies in the timing of refinancing. Owners fortunate enough to delay refinancing until the end of 2024 may find themselves in a more favorable position, securing decent refinancing rates or attracting potential buyers, especially as interest rates trend downwards.

“It really exemplified the value that great partners provide,” Royal stressed, noting that strategic alliances contribute significantly to successful outcomes.

“But others will find themselves without a chair when the music turns off,” said Royal.

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Blake Royal

Photo Courtesy of Pixabay

“My clients who are well capitalized have been able to win high-quality deals because they can move swiftly.”

Speed, he predicted, will be rewarded in 2024. In an environment where quick decision-making and execution are paramount, sellers are inclined to favor buyers with a reputation for closing deals swiftly. However, this urgency comes with its own set of challenges, as commitments to accelerated timetables may limit the luxury of extensions. As interest rates decline, sellers may become more willing to terminate deals if they believe they can

secure a higher price, introducing an additional layer of complexity to an already fast-paced and competitive market. With due diligence, strategic partnerships and timely decision-making, Royal suggested CRE professionals will find success in the opportunities 2024 may bring.

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‘Extra proactive’: Why the right insurance agent is key to managing risk in 2024 BY BRANDI SMITH

Photo Courtesy of Pixabay

Mention rates in a room of commercial real estate professionals and their first thought likely goes to interest rates. As crucial as the actions of the Fed are to development, there’s another rate property owners need to keep tabs on: insurance rates. “Insurance companies had to raise their rates due to losses over the past few years,” explained Ryan Nolen, an independent agency owner with Goosehead Insurance, citing Hurricanes Ian and Ida in recent years. Navigating the complex landscape of commercial property insurance has become increasingly challenging in the face of those rising risks and costs. According to Joe Minden, Producer at Swain & Baldwin Insurance, the trends observed in 2023 reflected a consistent theme in risk management.

higher insurance costs that impacted their bottom line more than anticipated in their financing models. These elevated insurance costs posed a challenge to their net operating income and became a factor complicating the feasibility of penciling profitable deals in 2023. It’s a scenario in which a competent and trusted insurance partner is critical. "I was extra proactive during this time, reaching out to my clients and going over their coverage and ensuring I’m doing my job," Nolen shared. This proactive approach underscores the importance of constant communication and reassessment to adapt to the evolving landscape of commercial property insurance.

"Rates had increased. Markets had hardened on their coverages. Capacity had shrunk in certain areas, particularly coastal exposures," noted Joe Minden.

"It is important to work with owners well ahead of time to prepare precise data for underwriters to assess and price habitational risks as accurately as possible," he explained.

The challenges faced by CRE owners were notable, particularly in managing

Additionally, having strategic conversations with owners about structuring

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Joe Minden

Ryan Nolen

insurance coverages and deductibles plays a crucial role in aligning with their risk tolerance while meeting loan compliance requirements. Nolen also offered a crucial piece of advice, emphasizing the importance of comprehensive coverage tailored to specific needs: "Just because it's cheaper doesn’t mean it's better. Ensure you’re fully covered!" As businesses look ahead to 2024, Minden advised a cautious approach. "News sources seem to be pointing towards a moderate year for insurance in 2024. It is advisable to still be conservative on budgeting given how volatile the markets have been over the recent years," he suggested, highlighting the need for continued vigilance and strategic planning. In light of these challenges, Minden highlighted the proactive role that Swain & Baldwin Insurance has played.

“It is advisable to still be conservative on budgeting given how volatile the markets have been over the recent years.” Furthermore, Swain & Baldwin Insurance has implemented captive strategy programs for owners with sufficient size, offering a financially feasible solution that provides owners with more control in their risk management. Nolen also extended his commitment to assisting businesses with their insurance needs. "I’d love to help them out. At Goosehead Insurance - The Ryan Nolen Agency, I can shop more than 70 companies in the State of Texas to help protect your personal or commercial risk," he offered. As businesses grapple with the uncertainties of the commercial property insurance market, insights from Minden and Nolen highlight the significance of proactive engagement, strategic planning and a nuanced understanding of economic trends to make informed decisions in an ever-changing environment.

"Our agency has helped owners place their risk with unique programs that we operate tailored for their asset type," he shares.

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Barkitectural Digest: How (and why) to shape Texas' pet-related retail space Top dos and don’ts for shopping center landlords ready to benefit from the $137B pet industry ANDY POTICHA, FOUNDER & CEO OF MOSAIC CONSTRUCTION

Retail is raining cats and dogs—and foot traffic from their owners, which makes the pet industry a $137 billion good thing for landlords. After all, a human being can explain what hurts in a telehealth session; Rover can't…and he definitely can’t be groomed online, either. From vets to groomers to pet food stores, pet-related businesses often require in-person (and in-pet) patronage. And all that foot traffic can be a boon to surrounding retailers, too—when you plan accordingly. In 2022, pet industry sales climbed to nearly $137 billion nationwide, according to the American Pet Products Association (APPA). Vet care and products are the second-biggest driver of the pet industry (after pet food and treats), tallying up to $35.9 billion last year, according to APPA. The Landlord Opportunity With this much revenue in play, pet industry tenants represent a historic opportunity for commercial real estate industry leaders, particularly owners of neighborhood shopping centers and out lots. Rover, Meow-Meow and their owners are spending big bucks to buy food, stay healthy, become properly groomed and buy toys and other pet treats. The pandemic may have changed shopping habits— but pandemic pets are bringing pets and their humans back to shopping centers. In this era in which pet industry businesses are highly promising as cashflowdriving tenants, following are a few tips on what to do—and what not to do— when designing and building spaces that will host humans as well as animals.

• Don’t: Assume that a veterinary clinic has to be cold and institutional. In design and construction, veterinary clinics look and feel a lot like physician offices—and come with some of the same design direction: create an environment that de-stresses an inherently stressful situation (that is, when a member of your family is sick or injured). Mosaic Construction is keeping this principal top of mind building multiple retail locations in Colorado and Texas for GoodVets, each designed with comfortable seating and tasteful décor.

Andy Poticha

One example: the new 3,241 squarefoot GoodVets location, opening in December in Dallas’s AMLI Quandrangle, exudes comfort and warmth, in keeping with the luxury residences just upstairs. For the residents of the larger building, having a vet in the building to take care of their cats and dogs can be a valuable amenity. • Do: Seek out pet industry businesses if your retail center is low on tenants and cashflow. When pets bring their owners to shopping centers, they bring foot traffic, too. You can’t obtain most vet care or get your poodle a haircut without visiting the vet or groomer in person, so many pet businesses are highly effective at driving foot traffic to surrounding stores, restaurants and service businesses. And who doesn’t want to get their nails done—while their dog or cat is doing the same thing next door? Locating pet services businesses in neighborhood retail centers is an increasingly popular strategy, as many of these businesses—veterinary clinics in particular— understand that their customers want convenient access and a location as close as possible to home. That demand also sometimes translates into multisite requirements, so a landlord may benefit from a loyal tenant paying rent in multiple centers. As the pet industry expands, so does the creativity of its site selection. GoodVets, for example, is in the process of opening locations in settings as varied as a former bank branch; an outlot of a Safeway grocery-anchored shopping center; inside a mall; and in Dallas in the first floor commercial area of a residential high rise. • Do: Try to choose a location with strong infrastructure and generous ceiling heights (taller than a typical office environment). Veterinary clinics are surprisingly like their medical office counterparts, and require some of the same specialized infrastructure, from higher ceilings to upgraded water and sewer lines. We always pay special attention to plumbing, ease of HVAC upgrades and power availability; without the right infrastructure either already in place or easily installed, a clinic buildout could easily become stalled. • Do: Bring your contractor in early, before the lease is signed, to consider the space through the lens of your pet-industry potential tenant. Petindustry clients typically look for modern, accessible facilities to serve their upscale demographics. So don’t look just at retail demographics to assess a property’s potential allure; look at the physical space itself. A knowledgeable contractor can help assess site-specific challenges like what it will take to meet ADA considerations, how to finish flooring and how to identify construction

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Good Vets Uptown Dallas

materials that will be easy to clean and maintain.

Furry friends mean big business for retail real estate

• Do: Understand that there are more similarities than differences when comparing human clinical spaces to animal clinical spaces. Both require compliant clinical spaces with cabinets, sinks and room for equipment, as well as restrooms, reception areas and other care-related elements. So, do look for design and construction firms with proven experience in medical office, as that expertise can apply directly to veterinary office design, too.

Other retail sectors may be experiencing growing pains, but veterinary clinics, groomers and other pet-related businesses are booming—and driving steady demand for bricks-and-mortar locations. This reliable momentum spells fresh opportunity across the retail real estate board, from standalone buildings in out lots to spaces in indoor malls and mixed-use developments.

• Don’t: Design for animals and forget their humans. Because both humans and animals visit these business locations regularly, there are some specific design, construction and real estate needs to consider. Design for the patron experience from the outside in, from ample parking outside to inviting lobby and waiting areas. Throughout the interior, consider ways to upgrade the consumer experience. What colors, materials, and easy-to-clean furnishings will help people and pets alike feel relaxed and content? At a portfolio-level, is there potential to program multi-site design that engages customer interest and loyalty across locations?

You can’t teach an old dog new tricks…but you probably can reimagine a shopping center with new tenants, more foot traffic, and ultimately, more revenue. And those factors could add up to become the proverbial “cat’s meow” for the financial success of your center.

Andy Poticha is Founder & CEO of Mosaic Construction and the leader of the firm’s work building GoodVets locations in multiple states. Andy has more than 30+ years of sales, client management, trade and supplier negotiation, system development, and production process management experience. For more information, visit www.mosaicconstruction.net.

Thank You to Our Sponsors! 2024 Austin

APARTMENT summit

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event profile

2024 Houston Industrial Summit BY RAY HANKAMER

Industrial Real Estate Market Overview Panel Moderator: Brad Porter-Porter Law Firm Panelists: Christen Vestal- Provident Realty Advisors; Thomas Irwin-Stream Realty Partners Boone Smith-Stream Realty Partners Takeaway: Vacancies have risen slightly but should tighten as development slows; we are returning to normalcy, from 'boom' to 'real good'. Rents are holding.

Ray Hankamer

Bullets: • 22 million SF delivered in 2023; 9 million expected to be delivered in 2024

• Vacancy up from 5.4% to 7.9% and holding...occupancies expected to rise this year with slow down of new space on the market; new construction down by 50%

very resilient since it is driven by our constant population growth • There is more demand for heavy manufacturing space as opposed to distribution space; this requires heavy water and power and sewer; getting the needed power can be a challenge for the developer and tenant; however, e-commerce still leads demand overall in the industrial segment • Older Class B & C space can be found with lower rents; older buildings are being upgraded • Construction pipeline momentarily slowed due to high interest rates, but demand for space continues to grow; land is at a premium in hot markets; landowners are holding firm on their sales prices; land pricing may stabilize but it seldom comes down • There is increasing demand for 30-40-60,000 SF spaces, leading to subdividing larger buildings; other upgrades to older buldings include solar panels on roofs

• Rents rose 16% on 2023

• Temu is taking Amazon market share

• Demand remains high and is sub-market specific; the 4th quarter finished strong

• Larger ships are coming into the port, which bodes well for industrial demand; we benefited from California port congestion and our port continues to grow; the steady growth of our port underpins warehouse demand

• Landlords are giving few concessions but may soften a bit on renewals of existing tenants • Some big boxes are subdividing space to accommodate smaller tenants, and some tenants are realizing they can get by with less space • Landlords are beginning to charge for 'extras' such as increased outdoor storage • Surge in local demand for space following pandemic as Houston moved up from being a local distribution center to a regional one; the Houston market is

• Houston competes with South Dallas industrial space, and our space is more attractive in many aspects • Some Asian companies are on-shoring manufacturing in Houston • Rising rents cause appreciation in the underlying real estate • Houston economy has done a good job diversifying away from O&G following the '80s bust • Industrial space is not as vulnerable to downturns as other CRE segments • Houston effectively has zoning through land use regulations by the countless property owners associations and other legal entities Game Changing Economic Tools & Incentives Panel Moderator: Elizabeth Huff-Sugar Land Economic Development Council Panelists: Herman Rodriquez-Economic Development Director, Missouri City; Paul ChavezEconomic Development, City of Stafford; Rina Lawrence-Port of Houston Takeaway: Economic development councils in the various smaller cities and towns in Greater Houston are active with their city councils in managing economic growth, including industrial, in a way that all stakeholders can live in harmony.

LANE HITS BACK AGAINST HIGH COMMERCIAL PROPERTY TAXES Overinflated valuations deal commercial property owners a hefty blow in the form of unfair overpayment. Lane Property Tax Advocates puts decades-long experience to work to save you time, ease stress and unburden your business. It’s time to fight for what’s fair. Contact Lane’s experts today. 832.358.2000 lanepropertytax.com/rednews

Bullets: • Industrial is welcome as long as it does not bring noise, fumes, etc., along with it in a way to annoy neighboring residential areas • Bringing blue collar industrial workers into white collar towns is a challenge from the standpoint of housing and transportation; industrial workers are often immigrants with low English skills • Development councils use tax abatement and other amenity incentives to attract industrial development where the town wants it to be; infrastructure can be installed to lure 'the right' industrial tenant • Life science tenants are desirable and are often given tax breaks • HIring and especially retention of trained industrial workers is challenging the farther the location is from the central city • There is often opposition to blue collar housing in white collar communities • Satellite cities try to compete with the "Big Houston" for choice industrial,

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“Houston is great for the long-term investor since underlying population growth undergirds property values and returns.” offering faster permitting and other attractions

Bullets:

• The slowdown in the Panama Canal has not impacted Houston port activity

• Transaction volume is starting to increase as inflation and interest rates moderate

• Smaller cities 'sell' work/life balance to companies moving to our area from California and other states • Satellite cities need better connection to METRO via more park and ride lots and more direct connections, i.e not just more cars • These communities are promoting walkable urbanization to attract clean light industrial Industrial Investment & Capital Markets Update Panel Moderator: April Daniel-REDNews Panelists: Kelly Williams-Blank Rome; Andrew Peeples, Director, Alliance Industrial Company Takeaway: Houston is great for the long-term investor since underlying population growth undergirds property values and returns. Texas has a strong and attractive business climate, which investors like.

• Industrial growth will continue to be strong here; there is no pause at present • Houston has lots of land in all directions, with few restrictions to growth • Credit departments are running banks now and banks are very cautious, requiring 45-50% equity and personal guaranties of different description • Loans coming due for refinance will have to 'thread the needle' to please the banks; the recent accelerating drags on cash flow from higher insurance premiums will cause banks to look twice a re-fi terms • Houston industrial rents are strong but still low compared to many other US markets • There is limited ability to re-develop older sites into infill small industrial buildings, but some are doing it

Thank You to Our Sponsors! 2024 Houston

INDUSTRIAL summit ®

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• Some industrial landlord/investors are outsourcing their management to third party companies • Many industrial tenants have accelerated tech in their lease spaces, but the landlords themselves not so much • Interest rates have peaked and should inch down this year; wage inflation is moderating; cheaper money is on the horizon and development should pick up • Texas is robust and if it were a country it would be the 8 strongest economy in the world

• Construction costs for large SF buildings have retreated a bit • Houston developers have not sacrificed quality in constructions • Leasing rates have gone up 30-40% over recent years

advertiser index ARCO/Murray Design Build ............................................................................................ 2

Industrial Development, Construction, Design Outlook Panel Moderator: April Daniel, REDNews Panelists: Craig McKenna-Stream Realty Partners; Beau Harris-Black Label Commerce Group; David Claros-Senior Director

Coldwell Banker Commercial.......................................................................................... 7

Takeaway: Construction costs have retreated in some areas, but labor costs are up. The build-to-suit market is good now. Some landlords are making their buildings aesthetically more appealing via landscaping, colors, and architectural embellishments.

Gensler .............................................................................................................................. 29

Bullets: • Everything is getting bigger and nicer to attract prime tenants • Good sites are increasingly rare, and some developers must resort to bringing otherwise secondary sites up to speed with improved drainage, access roads, and other amenities

Conroe Economic Development Council...................................................................... 9

Grand Pacific Financing................................................................................................. 10 JLL....................................................................................................................................... 19 Lane Property Tax Advisor............................................................................................ 12 National Environmental Services, LLC .................................................................... 42

• E-commerce users are slowing a bit as a percentage of the tenant mix

NewQuest Properties ................................................................................................... 31

• Tenants have increasing specific requirements for their buildings in today's market

NM Management .......................................................................................................... 33

• The trend is from spec to build to suit.

Palo Duro Commercial Partners ................................................................................. 27

• Port and sub-markets near it are booming: Mount Belvieu, Channelview, and west Chambers County are seeing demand

Prologis ............................................................................................................................ 17

• Rental rates are projected to continue to grow, even if interest rates moderate and construction costs moderate a bit

Savills .............................................................................................................................. 21 Zeus Companies ........................................................................................................... 23

Thank You to Our Sponsors! 2024 Dallas Fort Worth

COMMERCIAL REAL ESTATE FORECAST summit

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TEXAS ICONS

REDnews would like to congratulate the latest inductees into our Texas Commercial Real Estate ICONS

Cliff Booth, Westmount Realty Capital, LLC

Tanya Hart Little, Hart Commercial

Hans Brindley, Prologis

Sandra McGlothlin, Empire Holdings

Sean Dalfen, Dalfen Industrial

David Mitchell, Newmark

Nick Dhanani, Dhanani Private Equity Group

Bob Mohr, Mohr Capital

Lynn Dowdle, Dowdle Real Estate

Brian O’Boyle, Newmark

Emily Durham, JLL

Tom Pearson, SIOR, MBA, Colliers

Steve Fithian, SVN

Stephen Pheigaru, Palo Duro Commercial Partners

Jerry Frey, Savills

Jay Sears, NewQuest Properties

Daniel Galvan, CCIM, SIOR, Coldwell Banker Commercial Rio Grande Valley

Cindy Simpson, FIIDA, LEED AP, LEED AP ID+C, NCIDQ, RID, Gensler

John Hammond, Riverway Title Group

David Wolff, Wolff Companies

Dr. Steven Kaufman, CPA, msEDE, Zeus Equity Group

John Zikos, Venture Commercial Real Estate

Sarah LanCarte, CCIM, SIOR, LanCarte Commercial Real Estate

2023

CLIFF BOOTH Strong relationships have been the key to Cliff Booth’s success, allowing him to overcome numerous challenges for more than four decades. His career in commercial real estate has been defined by a passion for the industry, creative project pursuits and a commitment to cultivating lasting connections that has yielded acquisitions of over 47 million square feet for the firm he founded, Westmount Realty Capital, LLC. Booth's journey in commercial real estate began in 1979 when he founded Westmount. Over the years, he has immersed himself in the creative and design aspects of projects, business growth, investor collaboration and shaping environments where Westmount’s projects are based. He has led and closed numerous creative acquisitions, securing advantageous financing, enhancing Westmount’s properties through physical improvements and efficient management, and attracting creditworthy tenants. The result has been strong returns for both Westmount and its investors, and significant neighborhood and civic impact in Dallas and beyond. Booth takes pride in creating a culture where people want to work and fostering a flexible investment and capital structure to meet market demands. Since Westmount's inception, Booth, alongside an experienced team, has built a dynamic company with national real estate investments in the value-add multifamily, industrial and office space sectors.

Founder & Chairman

Westmount Realty Capital, LLC Dallas, Texas

Under Booth's leadership, Westmount has grown its national and international investor base to investors from 12 countries, specializing in value-add and opportunistic investments. Many of Westmount's active investors have been partners with the firm for more than 35 years, a testament to the enduring relationships Booth has cultivated. Booth attributes his success to his unwavering belief that relationships matter. Throughout his career, Booth has emphasized the importance of integrity and maintaining strong relationships. This philosophy has not only earned Westmount the trust of numerous U.S. and foreign institutional and private capital investors but has also shaped the firm's slogan, "Time-Tested," reflecting its successful track record to commercial real estate investing. Booth has navigated Westmount through numerous cycles of market highs and lows, including the unprecedented impact of the COVID-19 pandemic, when he led Westmount to a year of rebounding opportunities in 2021. Under his leadership, the company expanded its forces to meet the challenges, adding personnel in key areas and closing acquisitions totaling $1 billion in Phoenix, Atlanta, Tampa and Houston.

As of 2023, Westmount has returned to its roots, strengthening its growing portfolio and focusing on the industrial market through the restoration of its development initiative, focusing first on the Dallas Fort Worth area with plans to progress and broaden further development into a national footprint. In addition to his role at Westmount, Booth actively contributes to the greater real estate industry, serving as a governor on the Urban Land Institute Board and participating in the Industrial and Office Parks Council. In 2022, Booth was recognized as "Executive of the Year" by D CEO, solidifying his standing as an innovative and leading-edge investor. Beyond the world of real estate, Booth enjoys an active lifestyle filled with cycling, yoga, live music, playing the drums, traveling, reading and watching movies – an example of his well-rounded approach to life.

HANS BRINDLEY Finding opportunity in chaos is easy for this father of triplets. As one might imagine, raising triplets is an experience that demands exceptional organizational skills, adaptability and the ability to think on your feet. These lessons, learned in the trenches of parenting, have translated seamlessly into Hans Brindley's approach to the unpredictable dynamics of the real estate market. As a result, the Senior Vice President and Market Officer at Prologis brings a unique perspective shaped by a life filled with extraordinary challenges and joys, as well as a career than spans 20 years. Before delving into the world of Prologis, Brindley served as the Market Leader of Liberty Property Trust's extensive 10.5-million-square-foot portfolio. His role was not just confined to overseeing operations; he was instrumental in leading acquisitions and development efforts. Then, in joining Prologis in 2019, Brindley assumed the role of Market Officer for the Houston office, overseeing operations and strategic direction for the vast 37-million-square-foot Houston portfolio.

Senior Vice President & Market Officer

Prologis

Houston, Texas

Brindley acknowledges that the challenges of the commercial real estate market are akin to the unpredictability of parenting. Both, he says, require a similar mindset: being prepared for anything. His experience with triplets has taught him the importance of swift reactions and preparedness, skills that have proven invaluable in overcoming both market uncertainties and the delightful chaos of parenting. Building relationships and continuous learning are also fundamental to Brindley's success. His unique position as a father of triplets instilled in him the importance of adaptability while also highlighting the value of community and collaboration. This translates to the real estate world, which is filled with individuals willing to share insights and knowledge. Reflecting on his most enjoyable aspects of the business, Brindley highlights the joy he finds in collaborating with a diverse community – a skill he hones daily at home with his sons. The ability to manage the intricacies of family life with patience and strategic planning has equipped him to navigate the complexities of the real estate landscape.

Brindley also uses his skills to shape the landscape of the real estate industry in Houston and beyond. He’s a board member of the Houston Real Estate Council and a past board member of the Houston chapter of the National Association of Industrial and Office Properties (NAIOP). His commitment extends to memberships in prestigious organizations such as the Greater Houston Partnership, the Society of Industrial and Office Realtors (SIOR) and the LaPorte Chamber of Commerce. Beyond the hustle and bustle of the real estate world, Brindley finds solace and joy in spending time with his family. Raising triplets has not only enriched his personal life but has also become a source of inspiration and a unique perspective that sets him apart in the competitive field of commercial real estate. In a field in which every deal is unique and every challenge requires a tailored approach, Brindley's experience as a father of triplets has provided him with a distinct edge: the ability to balance chaos with calm and joy with strategic planning.

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SEAN DALFEN Having just wrapped up his fifth fund, President and Chief Executive Officer Sean Dalfen has leveraged his close to two decades in commercial real estate to lead his firm to become one of the nation's largest owners and developers of industrial real estate while establishing himself as a visionary leader in the last-mile sector. Dalfen got into the CRE game in the mid-2000s when he rapidly ascended the ranks as an Investment Sales Broker for NAI Commercial. His innate ability to navigate the intricacies of the industry quickly propelled him to become one of the Top 10 producers in Canada. However, it was his transition to Dalfen Industrial in the mid-2000s that marked a turning point in his career. Over the years, he strategically grew the business established by his father, ultimately transforming Dalfen Industrial into one of the largest privately owned industrial owner/operators. A pivotal moment came at the start of his career when he proposed the concept of raising an industrial fund in 2009. Despite facing skepticism from an industry pioneer who dismissed his plans in a five-minute meeting, Dalfen used the encounter as motivation. Undeterred, he proved his critics wrong, successfully raising funds and debt associated with the venture. This tenacity exemplifies his unwavering commitment to achieving goals, no matter the obstacles.

President & CEO

Dalfen Industrial Dallas, Texas

intel and overall efficiency.

Under Dalfen's leadership, the firm's portfolio has surged to more than 50 million square feet of industrial properties across the nation. His commitment to last-mile industrial real estate has positioned Dalfen Industrial as a trailblazer in the sector. This singular focus has been a key factor in the company’s success, enabling his staff to leverage a proprietary proptech scoring system and a top-down, bottom-up approach to meticulously select assets that align with their expertise. Dalfen attributes his success to several key factors, chief among them being the firm's singular focus on last-mile industrial real estate. His team’s meticulous approach, combining proprietary scoring systems with boots-on-theground expertise, ensures that each asset meets the highest standards of quality. The company's culture of continuous improvement has been instrumental, fostering a mindset of seeking ways to enhance team fundamentals,

A focus on acquiring and retaining top talent has been another cornerstone of Dalfen's success. The company operates as a partnership, with professionals from across the industry making up a formidable team. This commitment to talent, coupled with a robust company structure involving vertical integration and a boots-on-the-ground approach, has allowed Dalfen Industrial to provide top-notch service in every aspect of their business. While Dalfen is undeniably dedicated to his work, he emphasizes the importance of a balanced life. Family takes precedence, with quality time spent hunting and fishing with his wife and three children at their family ranch. Dalfen's commitment extends to philanthropy, where he and his wife are actively involved in charitable efforts not only in DFW, but across the country as well as internationally.

Congratulations! Prologis Houston congratulates Hans Brindley on being named a REDNews Texas Commercial Real Estate Icon.

Hans Brindley Houston, TX

prologis.com

TEXAS ICONS ISSUE

NICK DHANANI Through the careful cultivation of relationships, a focus on positive outcomes, and a shrewd approach to market dynamics, Nick Dhanani has weathered challenges to carve a niche for himself and his company, Dhanani Private Equity Group (DPEG). With more than three decades of experience, his path from night shifts at a gas station to the helm of a thriving real estate empire exemplifies Dhanani’s unwavering dedication and strategic prowess. Dhanani Private Equity Group focuses on both the development and acquisition of value-add retail centers, Class A+ multifamily, office buildings, land, hotels, and convenience stores across the Greater Houston Area. Under Dhanani's visionary leadership, the company has achieved a remarkable milestone, boasting transaction volume and assets under management exceeding $1.3 billion. The early days of DPEG were not without challenges. In the absence of a proven track record, external investment was a tough decision for Dhanani, especially considering the potential strain on close relationships. It was the unwavering support from family and friends that played a pivotal role in overcoming those initial hurdles. Eventually, DPEG was able to emerge from its infancy in strong fashion, and its success story began to echo across the nation. Today, the firm's welcoming nature has attracted partners from 23 different U.S. states and numerous Canadian provinces, all drawn to the consistent profitability of every project undertaken by DPEG.

CEO

Dhanani Private Equity Group Houston, Texas

However, Dhanani's passion extends beyond mere financial success; it lies in witnessing clients grow alongside their investments. For his team at DPEG, success is measured not just in dollars, but in the flourishing relationships with their clients. The personalized approach Dhanani employs involves cultivating close, one-on-one connections with investors, irrespective of the project's scale. It's a philosophy that prioritizes collaboration and shared goals, emphasizing the importance of involving investors in every aspect of the venture. Dhanani believes that these personal connections lead to more effective alignment of efforts, driving mutual success. According to Nick, several factors have been instrumental in the firm’s success within the competitive commercial real estate industry. Foremost among them is the trust built and maintained with investors. Recognizing that investor confidence is foundational to achievements, DPEG places a premium on fostering strong, lasting relationships. Additionally, a relentless focus on delivering positive investment outcomes has been a driving force. Every project is meticulously analyzed to ensure capital preservation, with profitability as a secondary incentive, thereby reinforcing the trust investors place in DPEG.

Moreover, DPEG's commitment to making intelligent investments involves a careful analysis of opportunities and adapting to market trends. This strategic approach has not only solidified their reputation but has allowed them to navigate challenges effectively. Dhanani's emphasis on the amalgamation of investor trust through full transparency, consistently favorable investment outcomes, and an unwavering adherence to the firm’s collective decision-making process underscores the key elements that have propelled DPEG to thrive in the ever-evolving commercial real estate landscape. Outside of the workplace, Dhanani finds tremendous joy in the simple pleasures of life. Cooking, in particular, has become a cherished part of his free time, a respite from the high-stakes world of real estate. Whether crafting his all-time favorite dishes or relishing quality time at home with family and friends, Nick brings the same dedication and passion to his recreational pursuits as he does to his career.

LY N N D O W D L E Throughout a career focused on resilience, hard work and a commitment to making a difference in both her professional and personal spheres, Lynn Dowdle, Principle of Dowdle Real Estate, has become a recognized and top-producing real estate broker, specializing in hospitality site selection, land sales, restaurant development, ground leases and build-to-suit opportunities. Before establishing her own real estate firm, Dowdle held senior positions at prominent firms like SRS Real Estate Partners, The John Bowles Company, Trammell Crow Company and the Tara Group. Dowdle began her career in commercial real estate in 1992, and since then, she has carved out a niche for herself through her unwavering commitment to excellence. Her unique ability to foster enduring relationships, combined with a comprehensive background and sharp business acumen, has positioned her as one of the most influential brokers in the Lone Star state.

Principle

Dowdle Real Estate Dallas, Texas

In a male-dominated industry, Dowdle has faced and overcome challenges, particularly as a woman. She acknowledges the hurdles, but emphasizes the importance of perseverance, adding that she hopes that her journey will inspire and pave the way for young women entering the business, urging them to forge their paths with resilience. Dowdle attributes her success to the relentless effort she put into her work, especially during the early years of her career. Long hours, determination and an authentic approach have been the cornerstones of her achievements. Dowdle advises aspiring professionals to keep their heads down, work hard and make a difference, after which, she says, success will naturally follow. Among the accolades that adorn Dowdle’s career, she has been a finalist for the Stemmons Service Award, chaired the TREC Fight Night in 2023 and been consistently featured in DCEO Dallas 500 and DCEO Power Broker lists. Dowdle’s impact resonates through her 15-year Heavy Hitter status and her recognition as the Top Producer at SRS Real Estate Partners from 2001 to 2011.

Beyond her professional success, Dowdle also has a deep involvement in philanthropy and community service. She sits on the Circle of Friends Board with New Friends New Life, an organization dedicated to restoring and empowering formerly trafficked girls and sexually exploited women and their children. Dowdle has also been a past member of the Board of Directors of Our Friends Place, a haven for neglected, abused or abandoned girls ages 10-17; a counselor through the Teen Outreach Program; and a founder of "If You Knew," an organization raising funds for clean water in Africa. Her dedication to making a positive impact on society reflects her belief in using success as a platform for meaningful change. Dowdle finds solace in activities that bring balance to her life. An avid lover of nature, she enjoys shooting sporting clays, fly fishing and hiking – activities that provide her with a sense of tranquility. Her deep connection with her family is evident, as she frequently spends time in Austin or New York City, cherishing moments with her daughter, Kelly, and son, Joe, along with their respective families.

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E M I LY D U R H A M As the Senior Vice President of Food and Beverage Advisory (F&B Advisory) with the Retail Team at JLL in Houston, Emily Durham has carved a niche for herself as a restaurant industry specialist, seamlessly blending her extensive experience in the culinary world with the intricacies of real estate. It’s an example of how passion, expertise and a tailored approach can transform a career from a simple recipe to a culinary masterpiece. Durham's career spans an impressive 32 years in the restaurant industry, where she has donned various hats – from front-of-house operations and chef to consultant, back-office management and proprietor. This rich background not only positions her as an expert in understanding clients' real estate needs, but also allows her to grasp the nuances of their business requirements. Durham represents a diverse clientele, ranging from award-winning chef-driven concepts to multi-unit fast-casual and fast-fine operators and respected regional chains.

Senior Vice President of Food and Beverage Advisory

JLL

Houston, Texas

What sets Durham apart is her unwavering focus on being a restaurant industry specialist in the commercial real estate scene. Her lifelong commitment to the industry, continuous study and active involvement position her as a respected figure among restaurant industry professionals. At JLL, Durham thrives in a collaborative environment at a global level, working alongside a roster of real estate experts and leveraging top-tier resources to reach new heights in her field. Armed with a Bachelor of Business Administration in Hotel and Restaurant Management from the New York Institute of Technology and an MBA from Rice University, Durham possesses a solid educational foundation. Reflecting on her journey, Durham acknowledges that starting as a commercial real estate broker demands grit, tenacity and persistence. The absence of a guaranteed salary requires navigating a competitive environment, yet she embraces these challenges as part of her unique path. Before joining JLL, Durham served as Partner and Director of Hospitality Services at Waterman Steele Real Estate Advisors in Houston. There, she played a pivotal role in creating a master broker platform for multi-unit national rollouts, showcasing her strategic acumen in aligning business expansion plans with real estate objectives.

Beyond her professional endeavors, Durham actively engages with the community and industry. Her role as an Executive Board Member at the Texas Restaurant Foundation and the Texas Restaurant Association SW underscores her commitment to the growth and development of the culinary landscape. Additionally, her membership in the International Council of Shopping Centers (ICSC) further highlights her dedication to staying at the forefront of industry trends. Durham also finds joy in the simple pleasures of life, spending time with her family and four (sometimes five) dogs, swimming and cooking. An avid explorer of culinary delights, Durham's quest for discovering new restaurants remains unabated. And, who knows, this might just be the year for her to conquer the pickleball court.

TEXAS ICONS ISSUE

STEVE FITHIAN In a world where success often hinges on the ability to close deals, Steve Fithian stands out. The Managing Director of SVN Trinity Advisors in Fort Worth, Texas, says the cornerstone of his success lies in the profound value he places on building enduring relationships with his clients. We can trace Fithian's entrance into the commercial real estate arena back to 1978 when he graduated from Claremont McKenna College with a Bachelor of Arts degree in economics with an emphasis in accounting. In the years that followed, Fithian explored the accounting space, but eventually landed at Coldwell Banker Residential Brokerage in 1983. A few years in, he became a licensed Real Estate Broker in California. By 1988, he was ready to take the bold step of founding Visions Realty & Investments, Inc., initially specializing in representing buyers in purchasing properties at foreclosure sales and from lenders. Relocating to Texas in 1990, he strategically expanded the company's reach into the North Texas market while maintaining a commitment to servicing California clients and their investments in Texas. As Visions grew, the company expanded into selling investment properties including multi-family, single-family rental houses, duplexes and fourplexes. It also organized, managed and acted as a general partner in real estate investment partnerships.

Senior Advisor & Managing Director

SVN

Fort Worth, Texas

Fithian's journey has been marked by resilience, particularly during challenging periods like the late '80s downturn, the early 2000s recession and, most notably, the unique challenges posed by the COVID-19 pandemic. His strategy during tumultuous times was clear: focus on client needs and be proactive. By adhering to this principle, Fithian not only weathered the storm, but emerged with strengthened client relationships. The key to his longevity and triumph in the industry lies in always putting those relationships first. In Fithian's view, no one succeeds alone. Trusted partners are crucial, and he has actively built those relationships over the past 30 years.

Over the years, Fithian's influence in the industry has only grown. His affiliation with Sperry Van Ness in 2004, evolving into SVN Trinity Advisors, reflects his dedication to pushing boundaries and achieving excellence. Awards, such as the Partner's Circle and Achiever awards, underscore his consistent commitment to exceptional performance in the field. Fithian's professional certifications and honors further underline his exceptional contributions to the industry. As a Certified Commercial Investment Member (CCIM), Certified Property Manager (CPM) and SEC Counselor, he's a practitioner and leader within real estate communities. His accolades, including the 2008 Charles D. Tandy Commercial REALTOR of the Year Award, are testaments to his impact and leadership. Fithian's life takes on a different pace outside of work. An avid outdoorsman, he finds joy in activities including hiking, skiing, scuba diving and running. However, it's his passion for car racing that stands out — participating in racing schools and hitting impressive speeds, including 187 miles per hour at the Texas Mile in Victoria, Texas.

JERRY FREY Six decades into his commercial real estate career, Jerry Frey will tell you his path was illuminated by the wisdom and guidance of mentors. As a Senior Managing Director at Savills, a global real estate advisory firm, Frey's multifaceted career showcases the profound impact mentors can have on shaping and steering one's trajectory in this competitive industry. Frey's initiation into real estate in 1977 was not just a professional choice, but a familial legacy. Under the tutelage of his father, Jerry B. Frey, Jr., a luminary in Texas real estate, young Jerry developed an early passion and education for the sector. His experiences spanned major commercial banks, public sector roles with the RTC and more than 30 years with global real estate services companies, including his current role at Savills. Notably, his 26-year tenure at CBRE, where he served as a Senior Vice President and market leader, showcased his prowess in tenant representation and complex negotiations.

Senior Managing Director

Savills

Austin, Texas

In 2019, Frey brought his wealth of experience to Savills, assuming the role of Senior Managing Director and Branch Manager for the Austin office. His responsibilities extend beyond brokerage, encompassing executive management duties related to branch operations, revenue production, and personnel decisions. Frey's impact is not only evident in his professional roles but also in his active involvement in various boards and organizations. What sets Frey apart is his unwavering belief in the transformative power of mentorship. He acknowledges the pivotal role mentors played in his own journey, shaping his approach to business and client relationships. He attributes his success to the guidance received from these mentors, emphasizing the importance of building a collaborative environment where strengths are leveraged for positive outcomes. Beyond benefiting from mentorship himself, Frey takes pride in paying it forward. He actively engages in training and nurturing young professionals, witnessing their growth within the industry. For Frey, success is not just about personal achievements but also about fostering a supportive community where collective strengths drive positive and rewarding results.

Frey's impact is not limited to his professional endeavors. His civic engagement, including chairmanship of the DAA and board memberships in various organizations, reflects a commitment to community betterment. He continues to be actively involved in philanthropy, showcasing a dedication that extends beyond the boardroom. Awards and achievements punctuate Frey's illustrious career, including his chairmanship of the Downtown Austin Alliance (DAA) Board from 2015 to 2017. His contributions extend to the Greater Austin Chamber of Commerce and the Real Estate Council of Austin (RECA), where he served as a board member for several years. Frey's commitment to excellence is further underlined by his recognition as a Top Ten Broker at CBRE and multiple listings as a Top 5 tenant broker by the Austin Business Journal.

DANIEL GALVAN, CCIM, SIOR As the President of Coldwell Banker Commercial Rio Grande Valley, Daniel Galvan's career isn’t just about transactions; it's an example of unwavering commitment to investing in the region that shaped him. His story serves as an inspiration for those navigating the complexities of the industry, emphasizing the importance of local insight, strategic relationships, and a dedication to community enrichment. Galvan’s triumphs illustrate that true success in commercial real estate is achieved not only through transactions, but by investing in the regions we call home. Galvan's story is deeply intertwined with that of the Valley, where he was born and raised. With a bachelor's degree in business finance from The University of Texas at San Antonio and a licensed real estate agent since 2006, Galvan’s journey took a significant step in 2008 when he became a licensed broker in the state of Texas and became affiliated with Coldwell Banker Commercial. Over his career, Galvan has overseen and participated in over $1 billion in completed transactions in the South Texas Region. His areas of expertise span across all commercial and investment real estate sectors, including corporate real estate, development, brokerage, project leasing and property management. His impressive client portfolio includes Circle K Stores, Inc., Denny's Corporation, Wells Fargo Bank, Orange Theory Fitness, Dunkin, Jersey Mike’s Subs and many others.

Principal Broker

Coldwell Banker Commercial Rio Grande Valley McAllen, Texas

Galvan's commitment to the economic development of the Rio Grande Valley is evident in his enjoyment of working in the corporate and retail sectors. Collaborating with municipalities and organizations like the U.S. Treasury, Dunkin, Jersey Mike’s Subs and Tractor Supply, he actively contributes to bringing new and expanding companies to the region. His passion for fostering economic growth in the area is a driving force behind his success. Despite encountering challenges, such as starting in the industry when he was just 21 years old and navigating the 2008 financial crisis, Galvan's resilience and dedication prevailed. The uniqueness of his region also helped, providing insulation from recession and a continuous expansion of the regional network. Additionally, surrounding himself with the best in the business and a commitment to ongoing education have been instrumental in thriving in the ever-changing landscape of commercial real estate.

Beyond the boardroom, Galvan is deeply involved in the community, serving as a Past President of the McAllen South Rotary Club and a Board Member with The Rio Grande Valley Partnership. He shares his expertise through commercial real estate trainings and has served as a panel moderator for The International Council of Shopping Centers. Galvan's commitment to community leadership is further exemplified by his role on the Pastoral Council for Our Lady of Sorrows Catholic Church and his appointment to the Diocesan Real Estate Advisory Board by Most Reverend Bishop Daniel Flores of the Catholic Diocese of Brownsville. In his downtime, Galvan enjoys spending time with his family as well as fishing, hunting, and anything outdoors, a reflection of his appreciation for Rio Grande Valley and South Texas.

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JOHN HAMMOND The ascent of John Hammond, President and CEO of Riverway Title Group, to the pinnacle of the commercial real estate business is marked by his dedication and strategic goal-setting, which led him to establish what is now the largest commercial title insurance agency in the Houston area. His story not only highlights the importance of setting ambitious goals but also emphasizes the resilience needed to overcome challenges in a competitive industry. After completing a Bachelor of Business with honors and a Masters Degree from the University of Houston, Hammond embarked on his career in 1982, immediately after graduating. He delved into the industry with Marcus & Millichap, kickstarting a journey that would see him become a respected figure in the field. He purchased his first apartment building at the age of 25, which further fanned his passion for investing that continues today.

President & CEO

Riverway Title Group Houston, Texas

The key to Hammond's success lies in his unwavering commitment to goal-setting. Since the inception of his commercial title insurance career in 1998, he harbored a vision of creating the preeminent commercial title agency in Houston. This goal, ambitious as it was, fueled his drive and determination. Surrounding himself with like-minded and entrepreneurial individuals, Hammond transformed challenges into opportunities, carving a niche in the Houston commercial title market and eventually founding Riverway Title in 2015. But his path was not without obstacles. In a competitive arena filled with multi-billion-dollar national title companies and more than 100 title companies in Houston, Hammond faced a daunting task in establishing Riverway Title. His biggest challenge lay in direct competition with industry giants. Still, his resilience and commitment to his goals propelled him forward, eventually positioning Riverway Title as the largest commercial title agency in Houston. He leverages his vast knowledge of title insurance and commercial real estate to assist clients comprehensively in their transactions. Hammond's ability to solve complex title and real estate problems is one of the attributes that sets him apart.

Hammond’s engagement in civic and charitable endeavors further showcases his commitment to community welfare. He is a member of the Tiger 21, National Multifamily Housing Council, International Council of Shopping Centers, Houston Association of Realtors, Bayou City Breakfast Club and Braeburn Country Club. He is a Founding Investor of the University of Houston C.T. Bauer Graduate Real Estate Program, where he currently serves on the Executive Advisory Board. He is also a Founding Stakeholder of the School of Entrepreneurship at the University of Houston. Hammond finds joy in spending quality time with his wife and four children, golfing with friends and clients and supporting the University of Houston football and basketball teams.

DR. STEVEN KAUFMAN, CPA, MSEDE From his humble beginnings, Dr. Steven Kaufman has defied the odds, emerging as a trailblazer in commercial real estate. His journey reflects a relentless pursuit of success that transcends the ordinary. His story is not just about financial triumphs but a testament to the transformative power of determination in the face of adversity. With a diverse career spanning private equity, entrepreneurship and philanthropy, Dr. Kaufman's impact is far-reaching, leaving an enduring impact on the industry and the communities he serves. Dr. Kaufman's journey into the commercial real estate sector began more than two decades ago when he delved into real estate financing for corporate giants like American Express, Hewlett Packard and Exxon Mobil. His prowess in navigating complex financial landscapes led to overseeing substantial real estate financing exceeding $1 billion, a feat that set the stage for his entrepreneurial ventures. One of Dr. Kaufman's notable endeavors includes spearheading ZeusLending.com, a premier online real estate financing provider. His innovative approach not only revolutionized that sector of CRE, but also propelled ZeusEquityGroup.com into the spotlight. This firm, specializing in acquiring and developing top-tier commercial real estate assets, currently manages a diverse portfolio valued at approximately $1 billion. Under Dr. Kaufman's leadership, Zeus emerged as a force to be reckoned with, achieving recognition as the 37th fastest-growing private financial service firm in the US, according to Inc. Magazine. His role as the driving force behind New York Mutual further solidifies his position in the industry, offering tailored lending and financial management services to institutional and private clients alike.

Managing Principal

Dr. Kaufman's success lies in his disciplined approach to capital preservation, showcasing exceptional underwriting performance without annual losses across economic cycles. His insights have not only attracted attention from esteemed media outlets but have also positioned him as a contributor to Entrepreneur.com, reflecting his commitment to sharing valuable knowledge.

Zeus Equity Group

Born from humble beginnings, Dr. Kaufman emphasizes the importance of creating wealth, not only for himself but for the betterment of his family and community. This ethos has shaped his commercial real estate group into one of the smallest, most predictable, slowest, and most conservative in the industry, but that risk-averse, long-term outlook explains why 94 percent of investors who have partnered with him still invest today.

Houston, Texas

Dr. Kaufman's academic background further solidifies his standing, with high honors in accounting from the University of Houston, a CPA designation, and a Master’s Degree in Economic Development and Entrepreneurship. His pursuit of knowledge extended to Harvard Business School, Oxford University and culminated in a Ph.D. from The Chicago School with a focus on performance psychology, organizational leadership and group trust.

Serving on the boards of organizations like The RICH Club, Houston Mortgage Association and the Anti-Defamation League (ADL), Dr. Kaufman actively contributes to the betterment of society. Accolades such as being recognized as one of the "Top 40 Most Influential Mortgage Professionals in the United States" and one of the "Top CEOs in Houston" underscore his impact on both business and community fronts. Dr. Kaufman's adventurous spirit shines through all aspects of his life. A four-time world champion power-lifter, marathon runner, Everest Base Camp trekker and Guinness World Record holder, he embodies the pursuit of excellence. In a candid reflection on his success, Dr. Kaufman shares that his most cherished activity is spending time with his daughters. Beyond that, his passion for competitive athletics, philanthropy and engaging in geopolitical and economic discourse paints a vivid picture of a man whose success is not just measured in financial achievements but in the richness of a life well-lived.

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SARAH LANCARTE, CCIM, SIOR Through challenges, growth and unrelenting determination, Sarah LanCarte exemplifies how a steadfast focus on one's goals can transform obstacles into stepping stones toward enduring success in the ever-evolving world of commercial real estate. The founder of LanCarte Commercial, she knows success is often measured by more than just deals closed or properties managed. LanCarte came out the gate with gusto earning dual degrees in finance and Spanish from Auburn University. That laid the foundation for a career marked by excellence, resilience and an unyielding commitment to the pursuit of success. Now 14 years into that career, LanCarte has emerged as a trailblazer in the CRE industry. Her journey began as an industrial broker, where she embraced the exhilarating hunt for deals and the satisfaction of finding the perfect space for her clients. The joy she derives from dealing with diverse people and businesses every day has been a driving force in her career.

Founder & President

LanCarte Commercial Real Estate Fort Worth, Texas

its inception.

Challenges are inevitable in the world of entrepreneurship and LanCarte has weathered her fair share. Founding LanCarte Commercial, she navigated the complexities of growing a business from a modest team of four to a robust ensemble of more than 40 professionals. The transition from a small company to a substantial enterprise presented unique hurdles, requiring a delicate balance between teamwork and individual growth. Collaboration remained at the core of LanCarte Commercial's ethos, emphasizing the importance of collective effort in achieving success. When reflecting on the factors contributing to her triumphs, LanCarte puts a spotlight on persistence. She recalls the early days of her career, when door-to-door cold calls were not just a strategy, but a way of life. Armed with determination and an unyielding spirit, LanCarte would make calls almost every day, enduring the challenges of the journey. Her mentor, recognizing her dedication, playfully encouraged her with discount cards for new shoes – a symbolic gesture of resilience in the face of adversity. Persistence, according to LanCarte, was the key that opened doors. Those initial struggles paved the way for a network of trust and recognition, turning one successful deal into a chain reaction of opportunities. Today, the echoes of those early door-to-door calls resonate in the flourishing LanCarte Commercial, a testament to the enduring spirit that fueled

In recognition of her professional prowess, Sarah LanCarte has garnered prestigious awards, including recognition from CoStar, D CEO Power Broker, Bisnow’s "35 under 35" and Fort Worth Business Press’s "40 under 40." When she’s not racking up awards, she’s spending time with family. Married to Adam and blessed with a 9-month-old son, Everett, and a 3-year-old daughter, Ellis, she cherishes weekends spent at the ranch or in the company of neighbors, watching football. Balancing a thriving career with a fulfilling family life truly illustrates LanCarte's holistic approach to success.

2023 REDNews Texas CRE Icon Dr. Steven Kaufman Founder & CEO

$7 BILLION INVESTED IN 17,000+ TRANSACTIONS OVER 20 YEARS

ZEUSPRIVATEFUND.COM

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TANYA HART LITTLE Tanya Hart Little showcases the paramount significance of cultivating and preserving an impeccable reputation. As the visionary founder and managing partner of Hart Commercial, Hart Little’s 40-year journey in the industry underscores the pivotal role a sterling reputation plays in shaping and sustaining success. Her story not only reflects her unparalleled achievements, but also illustrates the enduring impact of a pristine professional standing in the competitive landscape of commercial real estate. Hart Little’s journey in commercial real estate began with her instrumental role in GE Capital Real Estate and the Royal Bank of Canada. Her influence extended across marketing and asset management platforms, making her a driving force behind the success of some of the continent's largest real estate and finance companies. In 2009, she took a bold step, founding Hart Advisors Group, a distressed debt real estate advisory company that achieved remarkable success, completing more than $11 billion in commercial loan restructures, assumptions, recapitalizations and loan sales through 2020.

Founder & Managing Partner

Hart Commercial Dallas, Texas

At the heart of her success is Hart Little’s strategic vision and entrepreneurial spirit. Her ability to navigate the intricacies of the industry was further showcased during her tenure at GE Capital, where she oversaw the leasing, management and disposition of a $425 million national commercial portfolio. As the Managing Director, she directed the marketing strategy for GE Real Estate's $7 billion-per-year national lending platform. In Miami, Fla., she launched a commercial brokerage platform in 2014, catering to clients in the South Florida area. Hart Little has become a leading authority in commercial real estate, recognized for her groundbreaking work in strategic asset management. Since her time at GE Real Estate, she has dedicated herself to mentoring and promoting young professionals in the field. Through her involvement in organizations like The Real Estate Council, CREW Dallas and others, she has become a guiding force for the next generation of commercial real estate leaders.

Her commitment to mentorship is evident in Hart Little’s partnership with Allison Johnston Frizzo, a long-time mentee and friend, who co-founded Hart Commercial in 2021. Her passion for nurturing talent has earned her accolades such as the DBJ Women in Business Award, Enterprising Women of the Year Award and many more. When asked about the factors contributing to her success, Hart Little emphasizes the importance of reputation, integrity and keeping one's word. Building a strong client base and attracting talented associates have been ongoing challenges, but her dedication to her vision and values, coupled with unwavering client testimonials, has propelled Hart Commercial to new heights. Outside the demanding realm of CRE, Hart Little finds joy in travel, entertaining and spending quality time with friends. Her energetic golden retriever, Mila, adds a touch of playfulness to her life outside the office as well.

SANDRA MCGLOTHLIN Every commercial real estate transaction is an opportunity for creativity and excellence, according to Sandra McGlothlin, CEO of Empire Holdings, known for her innovative solutions and unwavering commitment to a customer-first ethos. With a career stretching across more than four decades, she has pioneered a distinctive approach to the industry, emphasizing the uniqueness of every property and tenant. McGlothlin first embarked on her mission in 1982, when she co-founded Empire Roofing, which grew into an international commercial roofing company by recognizing the gaps in the market. She set out to build best-in-class companies that would address the specific needs of customers. Not content with the ordinary, McGlothlin's success extended beyond Empire Roofing to Empire Disposal. It took less than a decade for her to parlay that success into a commercial real estate venture. Empire Holdings Real Estate, under her guidance, became a testament to her commitment to excellence. It has developed more than 85 facilities in Dallas/Fort Worth and various southern U.S. markets.

Chairman & CEO

Empire Holdings Fort Worth, Texas

What sets McGlothlin apart is her firsthand experience as a user navigating the challenges of adapting a business to a space. This insight fuels Empire Holdings' mission to provide single-tenant industrial and flex properties designed with a user-focused best-in-class approach. McGlothlin's dedication is evident in the ongoing construction of multiple single-tenant industrial facilities in the Dallas/Fort Worth market, ranging from 12,000 to 50,000 square feet. McGlothlin attributes her success to her team's unique perspective, approaching decisions from a user/tenant's standpoint. Rejecting the notion that properties and tenants are commodities, she invests time in understanding each tenant's business and operational needs. This proactive approach, coupled with tailored facility design and agreement structures, forms the backbone of Empire Holdings' success.

In response to challenges, McGlothlin has been a trailblazer, challenging the status quo. Convincing others of opportunities beyond the one-size-fits-all approach has been a struggle, but she has triumphed by investing in amenities including dedicated yard space, Class-A office facilities and top-tier landscaping. Her foresight is now mirrored by others in the industry, demonstrating her ability to lead and innovate. McGlothlin's success is not only measured in square footage, but also in her extensive community involvement. Serving as President of Commercial Real Estate for Women (CREW) and Chair of the Fort Worth Hispanic Chamber of Commerce, she has been a stalwart in various leadership roles, contributing to the growth of the industry and her community. Her board memberships in organizations like the Real Estate Council of Greater Fort Worth and involvement in non-profits reflect her commitment to holistic success. Even McGlothlin's quest for relaxation has resulted in business opportunities! While exploring yoga, she ventured into a successful partnership in a local yoga studio. She also commits her time to local non-profits and cherishing moments with her family.

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DAVID MITCHELL While he’s often recognized for the billions in transactions he has masterfully orchestrated, David Mitchell has ensured his legacy is also defined by the meaningful relationships he's built along the way. The Vice Chairman at Newmark, he has navigated challenges, maintained a family-oriented approach and found joy not just in closing deals, but in the bonds formed through shared experiences. Mitchell's career in commercial real estate commenced in 2002 at Southwest Residential Partners, the predecessor to ARA and Newmark. Over the years, he has become a pivotal figure overseeing all aspects of the transaction process, contributing to approximately $30 billion in multifamily transactions. Mitchell's team is recognized for effective communication, bringing together a network of owners, asset managers and financing experts to ensure clients make informed decisions. In addition to Mitchell's significant role in multifamily transactions, his team achieved remarkable milestones between 2021 and 2022, selling more than $10 billion of multifamily properties and capitalizing on these deals with the Newmark debt and equity team. Notable transactions include the sale of the Kirby Collection mixed-use project for $185 million, showcasing the team's prowess in handling high-value mixed-use properties.

Vice Chairman

Newmark

Houston, Texas

Beyond the numbers, Mitchell's focus on relationships has been a driving force in his career. While closing deals is undoubtedly rewarding, the camaraderie formed during client golf trips and hunting and fishing excursions adds a layer of fulfillment to the profession. Mitchell emphasizes the importance of the human connection in an industry often driven by transactions. Challenges have been an inevitable part of Mitchell's journey. The global financial crisis in 2007-2008 and the unprecedented challenges brought by the COVID-19 pandemic in 2020 tested his resilience. However, these challenges also provided opportunities for growth. Mitchell navigated through the difficulties, and in the subsequent two years, his office achieved an impressive $12 billion in transactions in Houston alone. The ability to persevere during tough times has been a key factor in Mitchell's success.

Reflecting on the factors contributing to his success, Mitchell acknowledges the influence of great people and leaders who prioritized honesty, hard work and family values. The foundation laid by those before him shaped the ethos of keeping family first while working diligently. The focus on maintaining a balance between professional and personal life has been a guiding principle, fostering a culture at Newmark where the team members become part of a close-knit family. Mitchell's influence extends beyond transactions to his active involvement in various professional and personal affiliations. His commitment to community and education is evident through affiliations such as his involvement with Apartment Life, the Advisory Board at Cadence Bank, membership in the National Multihousing Council Political Action Committee and advisory roles at The University of Texas, including the Real Estate Finance and Investment Center, the Chancellor’s Council Executive Committee and the President’s Associates. Outside the boardroom, Mitchell finds joy in activities that echo the values he holds dear: golfing with friends and his children, hunting and cheering for the Texas Longhorns.

BOB MOHR Bob Mohr's journey in commercial real estate is a tale of resilience and creativity. Through innovative business models, philanthropy and a commitment to conscious capitalism, the founder and chairman of Mohr Capital has found success in the ever-evolving world of commercial real estate. Mohr's foray into commercial real estate in 1986 coincided with a market crash that would have deterred the faint of heart. Instead of succumbing to adversity, Mohr recognized it as an opportunity to serve an overlooked clientele: tenants in need of representation free from conflicts of interest. Thus, Mohr Partners was born, driven by Mohr's long-term vision, sharp negotiating skills and a dedication to his clients' best interests. As the CEO of Mohr Partners, Mohr's creative approach transformed the company into the go-to representative for high-profile corporations worldwide. His innovative business model extends beyond traditional brokerage services, offering a comprehensive suite of client-focused solutions with salaried corporate staff. From web-based software to strategic planning, economic development, construction management, lease administration, financing and brokerage services, Mohr Partners stands as the largest exclusive corporate real estate services firm in North America, overseeing a staggering 400 million square feet of space.

Founder & Chairman

Mohr Capital Dallas, Texas

markets.

In 2002, Mohr's entrepreneurial spirit led to the creation of Mohr Capital, a real estate investment firm that not only acquires and develops properties, but also offers unrivaled lease rates and a share of profits to his corporate clients. Under his leadership, Mohr Capital boasts prestigious tenants such as Verizon, Hertz, Baylor Scott & White, Goodyear, Cooper Tire & Rubber and Northrup Grumman. Beyond business success, Mohr's commitment to conscious capitalism and community service sets a standard for the industry. Mohr Capital actively engages in philanthropy, supporting organizations including Jonathan's Place, a Dallas-based safe haven for abused and neglected children, teens and young adults. Mohr's insights, gleaned from four decades in the industry, shed light on his creative mindset. He finds joy in building relationships with clients and employees, emphasizing a service-oriented approach. He has faced many challenges over the years, including the recent squeeze on deals, and has met them with agility and a focus on the current capital

Mohr attributes his success to his commitment to creativity. From his early days in real estate, where he found inventive ways to connect with decision makers, to navigating complex deals with creative debt terms, Mohr consistently finds new ways to spark opportunities. His ability to find or create value has allowed him to thrive through the ups and downs in the real estate market over the years. Outside the office, Mohr enjoys life to the fullest. Whether it's snowboarding in Colorado, wakesurfing in East Texas, fliteboarding in Mexico or bonding with his grandson over a game of golf, Mohr exemplifies a well-rounded approach to both work and leisure.

TEXAS ICONS ISSUE

BRIAN O’BOYLE Through the highs and lows of his 45-year career, Brian J. O'Boyle, Sr.'s ability to turn setbacks into opportunities stands as a beacon of inspiration for aspiring professionals. His legacy is not just measured in transactions, but in the relationships built, the businesses founded and the communities touched. O'Boyle's passion for real estate began with a vision to create something extraordinary. Early in his career, he set his sights on the multifamily arena, starting with a small "mom and pop" operation. His perseverance and consistent growth led to the founding of Apartment Realty Advisors' Dallas and Oklahoma offices and the co-founding of ARA offices in Austin and Washington, DC. O'Boyle also played a pivotal role in establishing national platforms for student, manufactured and senior housing. This journey allowed him to interact with industry leaders, fostering professional and personal relationships that became the cornerstone of his success.

Vice Chairman

However, operating a boutique brokerage firm presented challenges, especially when institutional investors favored larger, national houses. O'Boyle, undeterred, invested in cutting-edge technology, developing a proprietary software system. With determination and a touch of luck, he built a track record that rivaled the competition. Joining forces with other boutique firms, he helped co-found Apartment Realty Advisors, a leader in the multifamily arena, ultimately selling to BGC Partners.

Newmark

O'Boyle's success can be traced back to his unwavering determination, a strong work ethic and mastering rejection. Acknowledging that success is a collective effort, he highlights the steadfast support of his family, including his wife, parents and children, along with a dedicated team of professionals. Together, they evolved into one of the most productive and respected groups in the industry.

Dallas, Texas

While no longer brokering multifamily deals, O'Boyle embarked on a new venture in 2020, starting an equity platform that focuses on multifamily developments. In a market projected to become the third-largest metro in the U.S. by the 2030s, O'Boyle continues to enjoy success, showcasing his adaptability and forward-thinking approach.

O'Boyle's contributions to the industry have not gone unnoticed. Recognized by esteemed awards such as the NTCAR Stemmons Service Award, Commercial Realtor of the Year, Heavy Hitter's Award and D Magazine's CEO top investment broker, O'Boyle's influence is felt far beyond his transactions. His leadership and contributions to both the real estate industry and the community have earned him the prestigious Stemmons Service Award, a testament to his outstanding impact. Outside the realm of real estate, O'Boyle enjoys spending time with family and friends in Dallas and Carmel, Calif. His commitment extends to charitable platforms, including support for Catholic Charities, Cristo Rey Preparatory School and St. Vincent de Paul Pharmacy and Thrift Stores.

TOM PEARSON, SIOR, MBA Tom Pearson's career is confirmation of the transformative influence of faith on a thriving career. It's not just about the deals closed or the accolades received; it's about a man whose unwavering faith has shaped not only his success but the landscape of commercial real estate itself. With more than 40 years of industry experience, Pearson’s remarkable journey to becoming Executive Vice President at Colliers is deeply rooted in his steadfast Christian faith, as well as his faith in clients and the deals they work on together. Pearson's entry into the industrial real estate business was an unconventional leap into the unknown. Fresh out of college and new to Dallas, he started his work journey with an advertising agency. After about 18 months, a client urged him to consider commercial real estate which offered tremendous upside and the opportunity to work with mentors who would help Pearson launch a business which he knew nothing about. After about a year of speaking with experienced commercial real estate professionals, he embraced the challenges of a sink-or-swim environment, propelled by prayer and his unshakeable faith. Surrounding himself with quality mentors, Pearson navigated the complexities of the industry, relying on his belief in a higher purpose to guide him through the ups and downs. His first building sale occurred after 90 days of starting his career. That provided him much encouragement, and he went on to sell his second property, a mini-warehouse project, six months later.

Executive Vice President

Colliers

Dallas, Texas

There were several other pivotal moments in Pearson's career, one of which was establishing a relationship with a global pharmaceutical company that selected him to represent it in the acquisition and disposition of office and warehouse space in DFW and six other cities, including its national distribution center in Memphis. Pearson claims the most pivotal was his decision to join Colliers in 2006 and partner with his long time friend and competitor, Chris Teesdale, and to focus on Southern Dallas County, a bold move that required business acumen as well as a deep-seated faith in the untapped potential of the region. Despite initial skepticism, Pearson's perseverance and conviction, along with that of his broker partner, helped to transform Southern Dallas County into a thriving big-box submarket, which has now become the largest “big-box” submarket in Dallas/Fort Worth, a testament to the synergy of faith and vision. At the core of Pearson's success is his unyielding Christian faith, a source of strength during the darkest times and a guiding light in moments of triumph. His faith extends beyond the boardroom, influencing his approach to deal-making and relationships. Besides his faith, Pearson credits his wife Pam of 48 years with her faith, support and love through throughout his career. It is a faith that instills perseverance, determination and a resolute belief in the purpose behind every endeavor. In addition to his faith, and the love and support of his wife and two grown children, Pearson emphasizes the importance of learning from successful peers and mentors. Actively participating in industry associations and achieving the SIOR professional designation have been key elements in shaping his career, all while staying true to his foundational values.

For Pearson, the people are what he enjoys most about the business and who make the business enjoyable. From CEOs and company founders, economic development directors and the countless broker friendships he has made over his career, are what he cherishes most. Teaming up with business partner Chris Teesdale in 2007 proved to be another game-changing experience, bringing financial success and immense satisfaction from value creation in an area that had never seen the volume of development that has since occurred over the last 15 years. Pearson has an impressive list of accomplishments, including the NTCAR Stemmons Service Award and Top Producer recognitions at Colliers and other firms with which he has been associated. At Colliers, he is building a legacy that transcends transactions: a legacy defined by faith, resilience and principles that echo through the corridors of commercial real estate. When he’s not making deals, you’ll find Pearson and his wife involved with their church, traveling and cherishing family moments with their children and three grandchildren. Whether exploring his favorite Texas destination of Port Aransasor in international travel, Pearson embraces life with the same faith-driven enthusiasm that fuels his professional journey.

STEPHEN PHEIGARU Stephen J. Pheigaru, the Managing Partner and co-founder of Palo Duro Commercial Partners, shines as a example of ingenuity and solution-oriented leadership. With a career spanning 18 years, he is an adept navigator of industry challenges, as well as a dedicated professional committed to finding tailored solutions for his clients, partners and investors. His commitment to client success and innovative problem-solving, reinforces that true success lies in the ability to navigate challenges with a investment-centric mindset, ensuring that each solution is as unique as the clients he serves. Steeped in the legacy of a father who served as the CFO of a prominent private commercial real estate firm, Pheigaru’s journey into the industry was shaped by a profound understanding of its intricacies. He began his career with a Houston-based private commercial real estate investment company handling project leasing and management of a 2-million-square-foot retail portfolio. He aligned with Hunington Properties, Inc. as Director of Retail Development in early 2014, soon thereafter became a Development Partner overseeing the Texas market developments. In this role, he focused on developing multi-retail centers and creating build to suit opportunities and procuring ground leases with national retailers.

Managing Partner & Co-Founder

Palo Duro Commercial Partners Houston, Texas

In late 2022, he co-founded Palo Duro Commercial Partners, a boutique firm with a razor-sharp focus on retail brokerage, development and commercial investment opportunities, with partner Jeffrey S. Hayes. As a Managing Partner, Pheigaru's primary focus is on overseeing the development and investment arm that includes property acquisitions, dispositions, debt/equity financing and leading the project leasing team. However, what sets him apart is his ability to navigate challenges and his unwavering commitment as he has collaborated with investors across the country to establish relationships to optimize the CRE investment outcome. For Pheigaru, success is not measured solely in transactions but in the satisfaction and success of his clients, partners, and investors. That, he says, has been pivotal for his own business achievements as well as his personal accomplishments. His ability to approach challenges with a investment-centric mindset, coupled with an open-minded and innovative approach, has been instrumental in successfully navigating transactions worth more than $500 million throughout his career.

When asked about the most enjoyable aspects of the business, Pheigaru's passion lies in the dynamic day-to-day challenges, the people and the rewards that come with finding solutions for his investments and developments. Every challenge presents an opportunity to tailor solutions that meet the specific needs of those he serves, creating a lasting impact on their success in the commercial real estate market. Pheigaru actively contributes to the community through organizations like the Houston Livestock Show & Rodeo, The Graeme McDaniel Foundation, Leukemia/Lymphoma Society LLS and The Halo House Foundation. He finds fulfillment in spending time with his two sons, and engaging in activities including running, golfing, skiing and hunting.

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JAY SEARS Fresh out of Baylor University and packing a determination to carve his niche, Jay Sears arrived in Houston in 1983. Little did he know that this journey would lead him to co-found NewQuest Properties and leave an indelible mark on the retail real estate scene. In 1996, at the age of 35, Sears realized his career goal by establishing Sears Realty Company. Specializing in commercial brokerage and development, the company swiftly became a key player in the greater Houston area. With projects catering to renowned names like Albertsons, HEB Grocery Company, Kroger and more, Sears solidified his position as a developer and owner. The success of Sears Realty Company caught the attention of Steve Alvis, leading to a strategic merger in 2001 and the birth of NewQuest Properties. Over the next 22 years, Sears and his team embarked on a journey that saw the development of 130+ retail projects, primarily in Texas. The company's growth didn't just stop at projects; it extended to building a team of 160+ talented individuals, making NewQuest Properties a powerhouse in the Texas real estate scene.

Co-Founder & Managing Partner

NewQuest Properties Houston, Texas

The retail industry's complexity brings constant challenges, but Sears faced two significant crises head-on: the financial crisis of 2008 and the COVID-19 pandemic in 2020. In 2008, with 2 million square feet of retail space under construction and amidst frozen financial markets, Sears and his team weathered the storm without a single delinquency or default. In 2020, the COVID-19 pandemic hit hard, causing 1100 tenants to stop paying rent. Through resilience and adaptation, Sears and his partners led their team to support tenants, enabling them to access PPP funds, adapt their businesses and survive the pandemic. For Sears, the thrill of seeing a project transform and enhance communities never gets old. Yet the heart of his success lies in the relationships built over the years. Recognizing that success is a collaborative effort, Sears acknowledges the pivotal role of his team. With Kim, his trusted assistant of 19 years, and a dedicated team at NewQuest, Sears values the joy of serving clients, leading the team and being a partner in their collective success.

Apart from his real estate endeavors, Sears is deeply involved in philanthropy, focusing on micro-finance, community development and water wells in Africa. Locally, his principal focus is on education, providing scholarships to underserved students and supporting organizations like AVDA, Brighter Bites, Toys Fore Kids and TEAM Catapult. In his pursuit of giving back, Sears emphasizes the importance of supporting education, epitomizing his commitment to nurturing future leaders. As he continues to travel extensively and enjoy his passion for fitness, Sears stands as an inspiration for those navigating the ever-evolving tides of the real estate industry.

C I N D Y S I M P S O N , F I I D A , L E E D A P, L E E D A P I D + C , N C I D Q , R I D Cindy Simpson's achievements in commercial real estate exemplify the power of compassionate and intuitive leadership. Her ability to navigate challenges, foster innovation and leave a positive impact on communities showcases the essence of her success. A visionary leader, mentor and philanthropist, Simpson has not only shaped the trajectory of Gensler but has also made lasting contributions to the industry and the next generation of leaders. As the Co-Regional Managing Principal of Gensler's South Central Region and a distinguished member of Gensler's Board of Directors, Simpson's journey spans more than 25 years, marked by her unique approach of leading with compassion, intuition, and diplomacy. Under her exceptional leadership style Gensler’s Dallas office has expanded significantly, boasting more than 225 employees. Her positions on Gensler's Board of Directors, including the Talent & Compensation Board Committee and Compliance Board Committee, have contributed to the firm's success, culture, recruitment, and financial stability.

Regional Managing Principal

Gensler

Dallas, Texas

Simpson's passion for commercial real estate transcends traditional boundaries. For more than 25 years, she has found joy in creating purposeful designs that define the fabric of communities. From local libraries to global sustainability initiatives, Simpson sees her role as a designer as an opportunity to make a positive impact on people, place, and planet. Throughout her career, Simpson has met and overcome numerous challenges – from supply chain issues and inflation to the unprecedented disruptions caused by the COVID-19 pandemic. Despite these hurdles, Simpson remains excited about the future growth and transformation in North Texas and beyond. She takes pride in Gensler’s resilience during the pandemic, emphasizing a One-Firm Firm culture centered on the human experience. Simpson attributes her success to leading with compassion, intuition, and diplomacy. Working alongside talented individuals, she has contributed to making the Gensler Dallas office into one of the largest in the region and the firm. Her leadership philosophy empowers and trusts those around her to engage in bold, innovative ideas, fostering a people-first culture that invests in teams and inspires forward-thinking, resilient design.

Beyond the boardroom, Simpson is deeply passionate about the social impact of design. Her commitment to mentoring the next generation of leaders is evident in the Cindy W. Simpson Loyalty Scholarship at Mississippi State University. This scholarship supports incoming freshmen exhibiting academic excellence and leadership potential. Simpson also actively supports the Interior Design Program through the Cindy W. Simpson Endowed Scholarship, contributing to the advancement fund in the College of Architecture, Art, and Design. Simpson's influence extends beyond Gensler as she passionately supports women's and children's charities having served on the Board of Directors for HopeKids to contribute to the mission of restoring hope and transforming the lives of children with life-threatening medical conditions and their families.

TEXAS ICONS ISSUE

Cindy Simpson FIIDA, LEED AP, LEED AP ID+C, NCIDQ, RID

Principal, Regional Managing Principal

Cindy is a visionary leader who inspires confidence in her clients, respect among her peers, and loyalty from her team members. Her leadership style, experience, and focus on clients' business have guided Gensler’s regional offices (Austin, Dallas, Houston, Nashville, and San Antonio) and the firm through extraordinary growth on projects that define the fabric of our communities.

DAVID WOLFF In the bustling world of commercial real estate, where caution and imagination often dance along a fine line, few figures stand as tall as David S. Wolff. As the Chairman and President of Wolff Companies, a Houston-based holding company, Wolff has carved a legacy marked by innovation, resilience, and an unwavering commitment to high-quality development. In his world, balancing caution with imagination isn't just a strategy; it's a way of life. Born in Philadelphia and armed with an MBA from Harvard Business School, Wolff embarked on a journey that now spans more than 57 years in the commercial real estate business. His foresight and tenacity led to the co-founding of Wolff Companies in 1970, and the establishment of the company as a powerhouse in the development of prime locations for office, business, and industrial parks. A true pioneer, Wolff anticipated the growth of West Houston and played a pivotal role in shaping what we now know as The Energy Corridor.

Chairman & President

Wolff Companies Houston, Texas

In the face of challenges, Wolff's resilience shines through. He has navigated major market downturns, including the real estate depression from 1982 to 1992, by remaining committed to liquidity and the careful management of liabilities. A recipient of numerous awards, including the 2023 Scenic Visionary Award, Wolff's contributions to quality development have earned him accolades from both industry and community. Wolff's portfolio boasts iconic developments such as Central Park in the Energy Corridor, Ten Oaks (home to Texas Medical Center's West Campus), Beacon Hill (a new mixed-use project in Waller County), and the 1,500-acre Gates Ranch (a community of family farms near Chappell Hill, Texas). Each project reflects Wolff’s commitment to high development standards, prime locations, and a dedication to preserving the natural environment. For example, in Westway Park, he preserved an existing arboretum that included tree specimens, some more than 100 years old, from all over Texas. Named the Carolyn H. Wolff Park in honor of his mother, it serves as an urban nature reserve and a peaceful respite for the community, now and in perpetuity.

Beyond his professional accomplishments, Wolff’s impact resonates through his community involvement. Co-founding and chairing the West Houston Association, serving on the Houston Parks Board (including two terms as Chairman), contributing to the Houston Grand Opera, and chairing METRO from 2004 to 2010, Wolff has left an indelible mark on Houston’s community fabric. Imagination has been a driving force behind Wolff’s success. For more than 50 years, his ability to transform visions into reality has set him apart. From serving as a partner with the San Francisco Giants to managing a 1,678-acre working cattle ranch in Independence, Texas, and operating vineyards in Napa Valley, Wolff’s interests extend beyond real estate. Ranching, sailing, baseball, and spending time with his two daughters and five grandchildren — these are the pursuits that bring joy to his life when he's not shaping the real estate landscape.

JOHN ZIKOS In the world of commercial real estate, where deals are made and broken in the blink of an eye, the importance of earning and maintaining respect cannot be overstated. John Zikos, a seasoned professional and Principal at Venture Commercial Real Estate, exemplifies this principle. With a career spanning more than three decades, Zikos has not only achieved remarkable success in brokering significant deals, but has also had a profound impact through his commitment to treating others with respect. He reminds us that true achievement is rooted in the quality of connections we forge and the respect we extend to others. Zikos's commercial real estate career began in 1986, fresh out of Texas A&M University with a degree in finance. Reflecting on his journey, Zikos recalls a pivotal moment during the Great Recession of the late 1980s. Faced with adversity when cold-calling retailers, he was hung up on by a real estate representative with Payless Shoes due to the economic climate in Texas. Instead of succumbing to the challenges, Zikos chose to dig in, get creative and work hard. This experience shaped his approach to problem-solving and resilience.

Principal

Venture Commercial Real Estate Dallas, Texas

Since joining Venture Commercial Real Estate in 2001, he has orchestrated numerous high-profile transactions, showcasing his prowess in selling income-producing properties and steering the lease-up of substantial developments. Notable among these achievements is the successful disposition of former Albertsons stores, the assembly of land for the Rayzor Ranch Development and the rollout of more than 70 LA Fitness clubs. Zikos's commitment to shaping and protecting a positive culture at Venture is evident in his leadership style. He invests considerable time in leading, teaching and mentoring young real estate brokers, emphasizing the importance of relationships and respect in a competitive industry. At the helm of Venture's Investment Sales team, Zikos has overseen the brokerage of over $1.7 billion in single- and multi-tenant properties. From lifestyle shopping centers to retail developments, his strategic approach and dedication to client satisfaction have earned him a sterling reputation in the industry.

Beyond his impressive deal-making abilities, Zikos’s genuine commitment to people sets him apart. He says the most enjoyable aspect of the business is connecting with individuals. He values the friendships with clients built over decades, finding immense reward in sharing in both the challenges and successes of his team at Venture. When asked about the factors contributing to his success, Zikos emphasizes the fundamental importance of treating people with respect, keeping promises, being persistent and working hard. A strong advocate for being a student of the business, he avidly reads real estate publications to stay abreast of trends, market dynamics, and key players. When he’s off the clock, you’ll find Zikos spending time with family, traveling and playing golf. His commitment to community service is evident through his volunteering role as a Greeter at Compass Church and his position on the Board of Dallas Real Estate Ministries.

TEXAS ICONS ISSUE

Congratulations Jay Sears for being recognized as a Texas Commercial Real Estate Icon by REDnews. As co-founder and Managing Partner of NewQuest, Sears focuses on growing the NewQuest platform through new development, acquisitions, strategic opportunities and managing key client relationships with retailers and clients. Visit us online at newquest.com

TEXAS ICONS

Michael Ablon

2020

Simmi Jaggi

2021

Susan Arledge

2020

Patton Jones

2022

John Atcheson

2022

Jim Knight

2020

Deborah Bauer

2021

Eric Lestin

2021

Fred Baca

2020

Philip Levy

2020

J. Cary Barton

2020

Amy Madison

2020

Lucy Billingsley

2020

Conrad Madsen, SIOR

2021

Stephanie Burritt

2021

Terrence Maiden

2020

R.L. “Burr” Buckalew

2021

Nikelle S. Meade

2022

Fred Caldwell

2020

Edna Meyer-Nelson

2020

Dougal Cameron

2022

Nathaliah Naipaul CCIM

2022

Bill Cawley

2022

Ed Nwokedi

2021

Robert H. Clay

2020

Rebecca Olaguibel

2022

David L. Cook

2020

Bob Parsley

2020

David Craig

2022

Jennifer Pierson

2022

Stan Creech

2021

Jeff Read

2020

Lynn Davis

2022

Alfred (Tom) Rohde

2022

Dr. Mark Dotzour

2021

Michael G. Scheurich

2022

Patrick Duffy

2022

Philip Schneidau

2022

Melanie Edmundson

2020

Carolyn Hinchey Shaw

2020

Gary S. Farmer

2020

Mike Spears, SIOR, CCIM

2021

Andy Flack

2022

E.W. “Ned” Torian

2021

Lilly Golden

2021

Jeffrey Swope

2020

Pam Goodwin

2022

Timothy Veler

2022

Charles Gordon

2021

Christen Vestal

2022

ALUMNI

Abe S. Goren

2022

Greg Weaver

2020

Craig Hall

2020

Michele Wheeler

2022

Al Hartman

2021

Reid Wilson

2020

Lispah Hogan

2022

CORFAC Members final 2023 survey reveals mixed feelings about market conditions BY CORFAC INTERNATIONAL

Results are in for CORFAC International’s year-end 2023 survey of global members. Despite economic uncertainty and inflation causing 67% of respondents to report lower transaction volume than earlier this year, local market business sentiment remains positive for over half of respondents. More than 40% of markets surveyed are benefitting from inbound business and population migration. For others, repeat customers who are expanding, downsizing or choosing new locations are buoying their transaction activity. The sectors fueling business for many CORFAC members shifted slightly in the latter half of the year. The warehouse/distribution sector filled the transaction pipeline for over 67% of respondents, bumping industrial/manufacturing into second place. Retail, office and investment sales rounded out the top five sectors contributing to members’ deal stacks. Recession concerns decrease, but other worries persist Recession worries eased among respondents with about half expressing concerns, down from 70% who expressed concern earlier this year. When making real estate decisions, members say their clients also cite interest rates and lack of available financing as roadblocks. “Inflation and rising interest rates have significantly impacted our small business owner clients’ ability to tap into lower-interest financing,” one respondent said. Yet high costs for construction materials and workers’ reluctance to return to the office continue to hamper activity overall. “Companies and their employees are still resistant to returning to the office,” a respondent said. “The return-to-work pace has been much slower than expected.” One positive trend for Midwest businesses to note is that the region is leading the rest of the country when it comes to return to work. That supports the more than 30% of respondents who think office mandates are having a positive impact on CRE activity.

Photo Courtesy of Pixabay

Amid continued market uncertainty, those looking to invest or divest in CRE need an advisor with on-the-ground intelligence as well as understanding of macroeconomic trends. It’s especially imperative to time decisions to the inflation and interest rate curve. With local market presence bolstered by an international network of partners, CORFAC brokers are poised to help their clients make the most of opportunities as they become available.

Forresta Village Development, Katy, TX

Looking ahead to 2024 Survey respondents said the office sector is poised for the most change in 2024. Return-to-work mandates will continue to have an effect, but as leases come due many office clients are still looking to sublease excess space. “We also expect creative repurposing of aging office space in our market,” a respondent noted. The investment sector is likely to be active in the new year as well. “There is a potential levelling of significant capital value declines over the last 18 months providing good value for money,” said a respondent. Stabilizing interest rates should also ease the worries of some buyers, fueling more investment activity in the coming months. Referrals highlight network benefits Sources of new business remained steady from early in the year, including clients downsizing, clients expanding, new companies locating to the market and business won from competitors. In addition, 26% of respondents received an inbound referral from another CORFAC member since mid-year, a positive indicator of the network’s value for business development in challenging conditions.

Property Highlights: • 94 Acres Commercial Development adjacent to the Methodist Hospital, Katy. • No Detention is required; Offsite Detention facilities are available. • All the Utilities are available to the all tracts, through West park MUD. • Never flooded; located in Zone-X (unshaded). • Low Property Tax Rate: 2.15/100 – MUD rate included (2023) NM Management, LLC – Nabil Murad (713) 334-3311 nmmurad@msn.com

TEXAS ICONS ISSUE

The sky isn’t Falling: Here’s why we remain bullish on CRE BY ELI RANDEL, CHIEF OPERATING OFFICER, CREXI

Photo Courtesy of Pixabay

In the face of economic uncertainties, timing the market for the acquisition (or disposition) of commercial real estate can be challenging. And while it’s been posed that market timers usually fail, acquisition price is crucial to investment success. An abundance of pessimistic voices insinuates adverse market outcomes painting a grim picture of doom and gloom as we head into 2024. Social media and echo chambers can make these voices seem outsized, but many qualitative views and quantitative metrics indicate that those voices don’t tell the entire story. Plenty of indicators suggest that if you have access to capital, commercial real estate may currently present a good buy opportunity. These, as well as real estate’s inherent and historic stability amidst fluctuating signals, suggest that those who stay levelheaded and key into signals within the noise may tap into significant potential returns. There’s real distress, but trends are cyclical Cycles occur and exist as an inevitable component of any investment sector. After 9/11, for example, some thought people would never work in high-rise office buildings again. Yet - until COVID-19 changed many of our norms – offices were a strong product type. The Dot-com bubble, the savings and loan crisis, the Global Financial Crisis… the commercial real estate sector swelled and compressed through each of these yet stands at nearly $4 trillion of total market value in 2022. The psychology of markets propels these shifts: People swing from bullish to bearish and sometimes believe the pendulum will freeze until it inevitably moves again. The herd often thinks the good times and the bad times will never end while we are in them. Those who ignore the noise and zig while others are zagging can make fortunes. Much of today’s distress is driven by interest rate increases, but these rates are still historically low - just ask an investor from the 1980s, when rates were in the high teens. One can argue that several years of near-zero rates have bred complacency and that these rate hikes are calling on CRE stakeholders to level up to survive. It’s not easy money anymore, but that doesn’t diminish the sector's potential.

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This leveling up ultimately will make the overall sector much stronger, built on more well-crafted debt structures, invested in better value deals and a sharper-honed sense of the market’s cyclical reality. There are asset class-specific and macroeconomic concerns that are worth mentioning. Global news has many on high alert as we watch developments in geopolitical conflicts and their economic impacts ripple through the U.S. economy. Inflation’s growth is slowing as of last month, yet our GDP continues to rise. Offices are potentially nearing a trough but there will likely be plentiful opportunities to acquire great assets at a discount for those who can source capital. If demand for space returns as companies call the herd back to the office (in some form), a lack of new office development may result in a shortage and a return to health or even prosperity. Retail and industrial are relatively insulated despite potential shifts in consumer spending habits. Multifamily housing becomes ever more crucial as families get priced out of single-family homes. Real estate’s inherent diversification proves immensely attractive in a world of fast-shifting share prices, exchanges escalating up and down and meme stocks. Investing in commercial properties broadens your portfolio beyond the traditional forms of investments, like stocks and bonds, into the world of industrial, retail, and housing. CRE is built on relationships As any good broker or investor knows, the commercial real estate industry is built on relationships. During less free-flowing market phases, especially as we come off a long bull run, these relationships become ever more crucial. Within this sector, CRE participants are making moves amid distress to creatively problem-solve refinancing issues, deal flow and even landlordtenant relationships. Banks and lenders, with an understanding that buildings are best retained and managed by more entrepreneurial borrowers, are motivated to meet owners at the bargaining table and come up with

creative term adjustments and modifications. Especially as banks continue tightening their lending requirements overall, it’s essential to build up these good relationships now and reaffirm a commitment to mutual success.

be. There’s a hunger for information and better tools, and advances in AI and other technological sectors allow CRE stakeholders to prioritize relationshipbuilding while automating other facets of their business.

While buyers are taking longer to source, evaluate and close deals, they’re much better prepared to take advantage of good opportunities when they appear if they’ve cultivated fruitful relationships with brokers, financiers, and other key transaction personnel. Many, indeed, are assembling such networks and keeping a close eye on market trends to strike when the iron’s most hot.

Additionally, predictive analytics tools can help identify emerging trends, forecast demand, and assess the potential profitability of a given asset. This level of analysis was previously time-consuming and costly, but with advancements in research tools, investors can now access comprehensive data and analytics tools, giving them a competitive edge in the market.

Landlords, too, are engaging in ongoing conversations with prospective and current tenants, especially those with upcoming lease renewals. By keeping these dialogue channels open, tenants get more attractive lease terms, while landlords can rest assured of their rent payments. Happy tenants are much likelier to stick around for the long haul – a reassuring guarantee of stable cash flow amid more volatile markets. Strong careers are forged in tough times What’s different this time around? New tech tools and broader access to democratized information are unlocking efficiency and potential more than ever, making now an exciting, if challenging, time to enter and stay in commercial real estate. Advanced digital marketing tools not only widen the reach of a listing to prospective buyers or tenants but provide detailed insights into who that audience pool is or even could be. More and more brokers are adopting digital listing platforms, social media, and advanced CMS software to establish and nurture client relationships. Outside of a particular deal, these relationship tracking tools facilitate relationship builders - which, as mentioned above, are crucial to the industry’s success. The integration of big data and analytics is also transforming the way commercial real estate operators make decisions. The aggregation of data such as market trends, demographic shifts, sales comparables and foot traffic makes holistic due diligence faster, more transparent, and fully remote if need

New technologies are also making engagement with mentors and industry leaders more accessible than ever, through articles, education, and even DMs. Advances in digital marketing tools have dramatically reduced business costs, and it’s never been easier to build a unique brand and highlight what differentiates you as an investor, landlord, or broker. Using technologies well can offer the savvy CRE stakeholder a distinct advantage. Outside technological advancements, an environment of adversity breeds resilience. Many The Crexi Podcast guests acknowledge current challenges but claim there’s never been a better time to enter the sector, as troubles sharpen skills, strengthen networks, and demonstrate one’s capabilities. Younger professionals are also excited about the chance to prove themselves in a shifting market, and those who become exposed early on to potential financial hurdles of a CRE-focused career will be better equipped to thrive when the tides shift. The bottom line Real estate remains one of the best asset classes and ways to maintain control of your money’s destiny. Those with entrepreneurial grit who can best prepare themselves, increase their knowledge, optimize their toolkit, and develop relationships will be best positioned when the wheel of fortune turns back around.

Eli Randel is chief operating officer of commercial real estate firm Crexi.

Thank You to Our Sponsors! 2024 San Antonio

FORECAST summit

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2024 Houston Industrial Summit

Panel 1 – Industrial Real Estate Market Overview (Left to Right): Boone Smith, Senior Vice President, Industrial, Stream Realty Partners, Christen Vestal, Director, Development & Acquisitions, Provident Realty Advisors, Thomas Erwin, Vice President, Stream Realty Partners, Brad Porter, Managing Partner, Porter Law Firm.

Panel 3 – Industrial Investment & Capital Markets Update (Left to Right): Kelly Williams, President, Blank Rome, Andrew Peeples, Director, Alliance Industrial Company, April Daniel, Texas Sales Director, REDnews.

Panel 2 – Game Changing Economic Development Tools & Incentives: (Left to Right): Herman Rodriguez, Economic Development Director, Missouri City, Paul Chavez, Economic Development Administrator, City of Stafford, Elizabeth Huff, Economic Development Director, Sugar Land Office of Economic Development, Texas, Rina Lawrence, Economic Development Manager, Port Houston.

Panel 4 – Industrial Development, Construction & Design Outlook (Left to Right): Craig McKenna, Director, Stream Realty Partners, Beau Harris, CoFounder & Principal, Black Label Commercial Group, David Claros, Senior Director, April Daniel, Texas Sales Director, REDnews.

Ray Hankamer, REDnews Reporter

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Theresa Quartaro - IPX1031, Dalton Goetzinger - USI.

Christen Vestel, Provident Realty Advisors shares her Insights about the state of the Houston Industrial market.

events

2024 Austin Apartment Summit 2024 Austin Apartment Summit

Panel 1 – Apartment Market Update (Left to Right): Kent Myers, Senior Managing Director, Institutional Property Advisors , Josh Kahn, Chief Operations Officer, Investments, RPM Living, Daniel Elam, Principal, Muskin Elam Group , Michael Gonzalez, Senior Director, Berkadia , Spencer Roy, Director | Investment Sales, Walker & Dunlop

Panel 2 – Critical Capital Markets Update (Left to Right): Jordan Vaughn, Senior Associate, Northmarq, Cheryl Higley, Senior Vice President, Debt & Equity, Northmarq, Abel Pacheco, President & Principal, 5 Talents CRE, Chris Stutzman, Managing Director, Transwestern

Panel 4 – Construction, Development & Design Trends (Left to Right): April Daniel, Texas Sales Director, REDnews, Fernando Rivera, Senior Designer | Associate, DLR Group, Srinath Pai Kasturi, LEED AP, Executive Vice President, Cadence McShane Construction Company, Collin Aufhammer, VP of Development, Endeavor Real Estate Group Pawel Hardej, Principal, Metropolitan Development

Rachel Elam supports her brother Daniel Elam, Muskin Elam Group who spoke on Panel 1

Gail Whitfield, The Whitfield Company, Julia Roessner, Sixthriver, Karen Ward, Terracon Consultantas, Su Jones, MW Builders

Panel 3 – Critical Capital Markets Update (Left to Right): Abel Pacheco, President & Principal, 5 Talents CRE, Lyndsay Hanes, President of Property Management, Metric Property Management, Israel Linares, Senior Market Analyst | Central Texas, CoStar Group

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events Panel 1 Navigating the Office Landscape: Market Insights and Strategies (Left to Right): April Daniel, Texas Sales Director, REDnews, Shahid Abdulla, CCIM®, Executive Vice President Commercial Group Lending Manager, Jefferson Bank, Will Curtis, CCIM®, Commercial Managing Director, Phyllis Browning Co., Leah Gallagher, San Antonio City Leader, Transwestern

2024 San Antonio Forecast Summit

Panel 2 Thriving in the Industrial Frontier: Market Trends and Opportunities (Left to Right): Glen Boehm, CCIM, Broker Associate, Boehm Commercial Group, April Daniel, Texas Sales Director, REDnews, Joshua Schneuker, Executive Director, Seguin Economic Development

Panel 3 - Reimagining Retail: Trends, Innovations, and Success Stories, (Left to Right): Chad Knibb, CCIM®, Principal, Co-Owner, Foresite Commercial Real Estate, Andrew Baumgardner, Partner, Jackson Walker, Raymond Kang CCIM, Senior Associate, The Kang-Hollingsworth Group, Marcus & Millichap

Corporate Sponsor BluSky Team members, Clint Walker, BluSky, Loren Vining, BluSky. Panel 4 - Unveiling the Apartment Landscape: Trends, Investment Potential, and Future Outlook (Left to Right): Cara DeAnda, Chief Operating Officer, Galaxy Builders, Abel Pacheco, President & Principal, 5 Talents CRE, Pawel Hardej,`Principal, Metropolitan Development, Rav Singh, CCIM, Director; Broker Associate, Spur Equity

Corporate Sponsor CIVE, Leci Wood, CIVE.

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Cara DeAnda, Galaxy Builders speaks to Attendee.

SCOOP/PEOPLE ON THE MOVE Institutional Property Advisors expands top-tier multifamily broker team in Dallas-Fort Worth Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today that multifamily investment specialist William Hubbard has joined IPA in Dallas, Texas. In his new role, he will partner with the firm’s veteran Texasbased team led by executive managing directors Will Balthrope and Drew Kile. The Texas team has closed over 300 multifamily transactions valued at $15 billion in the last three years. Hubbard will work alongside the Dallas-based team led by Kile, Taylor Hill, Michael Ware and Joey Tumminello. “The addition of William demonstrates our continued commitment to the strategic growth of IPA and deepens our presence in DallasFort Worth, one of the most active markets for multifamily investment in the United States,” said John S. Sebree, senior vice president and director of Multi Housing Division, Marcus & Millichap and IPA. A Dallas native, Hubbard previously served as a first vice president with CBRE. He joins IPA as a first vice president investments. During his career, Hubbard has been involved with 70 commercial real estate transactions totaling $1.2 billion. He graduated from the Virginia Military Institute with a Bachelor of Arts degree in business and economics. Hubbard is a member of the Texas Real Estate Commission and the Urban Land Institute. “I am excited for the opportunity to join this accomplished team and look forward to providing additional opportunities for investors in DallasFort Worth and throughout Texas,” said Hubbard. “As we move into this next economic cycle with an improved interest rate outlook, institutional investors will continue to rely on the market knowledge, capital markets expertise and research that IPA advisors provide,” said Tim Speck, Marcus & Millichap senior vice president and division manager, Texas. “It’s my pleasure to welcomeWilliam to our expanding roster of experienced investment professionals and work with him to achieve the investment goals of our clients.”

Newmark hires Elliott Hirshfeld as Managing Director, expanding office agency leasing practice in Houston Newmark is pleased to announce the addition of top producer Elliott Hirshfeld to the Houston office agency team. Working closely with Executive Managing Director David Baker and Director Kristen Baker, Hirshfeld will play a pivotal role in expanding Newmark’s office agency practice in Houston, while executing marketleading transactions. With over 25 years of leasing experience, Hirshfeld’s track record encompasses a variety of projects, including large corporate headquarters, new mixed-use developments, building repositionings and standard leasing. Over the course of his career, Hirshfeld has consistently delivered exceptional results across Houston in both favorable and challenging market conditions, completing over 600 leases with a total value exceeding $1.5 billion. Prior to joining Newmark, Hirshfeld served as Senior Vice President with CBRE, where he played a key role in leasing an office portfolio of over 8 million square feet for institutional investors, real estate developers and private owners. Quotes: Ran Holman, Executive Vice President and Texas Market Leader: “We are thrilled to have Elliott join the Newmark team. Elliott’s incredible reputation and career accomplishments make him an immediate impact player for us, and he embodies the character and professionalism that will continue to elevate our firm. The Houston market is a core focus of Newmark’s growth, and the addition of Elliott to the team will be one of many exciting developments for Newmark Houston in 2024.” Elliott Hirshfeld, Managing Director: “I’m excited to join Newmark and be part of a team that is synonymous with excellence and client-centricity. My highest priority is to create value for clients, and I’m eager to bring this commitment to elevate Newmark’s agency leasing practice in Houston and achieve remarkable results.”

Marc el-Khouri hired at Perkins&Will Marc el-Khouri has joined the Houston studio of Perkins&Will as Corporate & Commercial Practice Leader, Associate Principal. He is an award-winning architect and entrepreneur with a versatile, global perspective in real estate development, architecture, and urban design. el-Khouri excels in the design of flexible spaces and placemaking via the blending of function, strategy, and aesthetics. He actively contributes to the industry as a participant in prestigious juries, research, and lecturing. Tori Ferguson promoted to Director of Marketing at Rogers-O’Brien Construction Rogers-O’Brien Construction (RO) is pleased to announce Tori Ferguson’s promotion to Director of Marketing. In her new role, Tori will oversee project pursuits and fearlessly lead all regional marketing activity for RO across Texas, driving revenue and fortifying the firm’s competitive position. Her dynamic approach makes her the ideal leader for this multifaceted role, and we look forward to the continued success of our marketing initiatives under her leadership. Congratulations, Tori! Wendy Travis, AICP promoted to Southwest Regional Director for Transportation at Garver Wendy Travis, AICP, has been appointed Southwest Regional Director for Transportation for engineering firm Garver. In her six years with the firm, Travis has been instrumental in growing Garver’s Transportation Planning and Environmental Team to more than 20 experts across four states and has spearheaded major projects including the Texas Department of Transportation Ports-toPlains Feasibility Study. In her new role, Travis will lead the firm’s transportation efforts across Texas.

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CRE MARKETPLACE

ASSET/PROPERTY MANAGEMENT FIRMS

BROKERAGE FIRMS

CENTERPOINT PROPERTIES 945 Bunker Hill, STE 625 Houston, TX 77024 P: 832.856.4779 Website: centerpoint.com Key Contacts: Nate Rexroth, Executive Vice President, Asset Management; nrexroth@centerpoint.com; Danielle Radtke, Senior Vice President, Asset Management; dradtke@centerpoint.com Services Provided: CenterPoint Properties is an innovator in the investment, development, and management of industrial real estate and multimodal transportation infrastructure. CenterPoint acquires, develops, redevelops, manages, leases, and sells state-of-the-art warehouse, distribution, and manufacturing facilities near major transportation nodes. Our experts focus on port-proximate distribution infrastructure assets near America's major population centers. Company Profile: CenterPoint Properties continuously reimagines what’s possible by creating ingenious solutions to the most complex industrial property, logistics, and supply chain problems. With an agile team, substantial access to capital, and industryleading expertise, we give customers a competitive edge to ensure their success — no matter how great the challenge.

CMI BROKERAGE 820 Gessner, Suite 1525 Houston, TX 77024 P: 713.961.4666 Website: cmirealestate.com Key Contacts: Trent Vacek, tvacek@cmirealestate.com; James Sinclair, jsinclair@cmirealestate.com Services Provided: Central Management, Inc. is a full-service commercial real estate firm providing Brokerage Services; Property, Facility, Construction and Asset Management Services; Landlord and Tenant Representation; Land Sales; Receivership and Real Estate Recovery. Services are available for Industrial, Land, Multifamily, MOB, Office and Retail. Licensed in Oklahoma and Texas. Company Profile: Central Management, Inc. (CMI) was founded by Houston real estate professional Vic Vacek in 1978. Our team understands the intricacies of the markets that offer investors an edge both from a leasing and an asset management perspective. Certified AMO® 1984, IREM, CPM, CCIM, NAR, HAR, NALP, ICSC, and TREC. Notable Transactions/Clients: Armada Big Springs Ptnrs, Barbour Invts., Baytown ISD, Core Real Estate, Hoffpauir Estate, JLC Properties, KBR, Prudential, Rawson Blum & Leon, Subway, Texas Hearing Institute, Triple Crown Invts., US Oncology, Vigavi Realty, Walgreens. CONSTRUCTION COMPANIES/GENERAL CONTRACTORS

HIFFMAN NATIONAL One Oakbrook Terrace, Suite 400 Oakbrook Terrace, IL 60181 P: 833.HIFFMAN Website: hiffman.com Key Contacts: Dave Petersen, CEO, dpetersen@hiffman.com; Bob Assoian, Executive Managing Director of Management Services, bassoian@hiffman. com Company Profile: Hiffman National is one of the US’s largest independent commercial real estate property management firms, providing institutional and private clients exceptional customized solutions for property management, project management, property accounting, lease administration, marketing, and research. The firm’s comprehensive property management platform and attentive approach to service contribute to successful life-long relationships and client satisfaction. As a nationally bestowed Top Workplace, and recognized CRE award winner, Hiffman National is headquartered in suburban Chicago, with more than 250 employees nationally and an additional six hub locations and 25 satellite offices across North America. For more information, visit hiffman.com

ARCHITECTS/DESIGN-BUILD FIRMS KDS de stijl interiors, LLC 2006 E Cesar Chavez St. Austin, TX 78702 P: 512.457.1332 Website: kdsaustin.com Key Contacts: Jill Laverentz, Owner, jill@kdsaustin.com; Clark Kampfe, Principal, clark@kdsaustin.com Services Provided: Programming & Client Process Analysis – Due Diligence & Building Analysis – Schematic Design – Test Fit & Pricing Notes – Project Scheduling Goals – Consultant Team Formation – Cost Analysis & Value Engineering – Design Development – Construction Documentation – Racking, Commodity, & Equipment Coordination – Permit Processing – Project Management – Construction Administration – Project Budgeting & Cost Tracking – As-Built Documents Company Profile: KDS is a full-service commercial design firm with 30+ years of experience including 25,000,000+ SF of Industrial/Flex and 3,000,000+ SF of Office Projects. We are committed to responsiveness and to providing well designed and implemented solutions. Our extensive knowledge base and adept management of critical milestones creates consistently successful projects. Notable/Recent Projects: American Canning – Austin, TX – 101,000 SF – Manufacturing & Distribution FlightSafety International – TX & OK – 186,000 SF Combined – Manufacturing GT Distributors – Pflugerville, TX – 58,000 SF – Retail, Office, Fabrication, Storage & Distribution

ALSTON CONSTRUCTION COMPANY HOU: 1300 W. Sam Houston Pkwy S Suite 225, Houston, TX 77042 DAL: 10440 North Central Expressway Suite 720, Dallas, TX 75231 Website: alstonco.com Key Contact: HOU: Nick Dwyer, Director of Business Development, ndwyer@alstonco.com DAL: Brittany Schneider, Director of Business Development, bschneider@alstonco.com Services Provided: Alston offers a diverse background of design-build experience, general contracting and construction management of industrial, commercial, healthcare, retail, and municipal projects. Company Profile: Alston Construction’s success begins and ends with our approach to planning, scheduling, and choosing the right team. We have been adhering to an open and collaborative approach since our founding more than 35 years ago. Notable/Recent Projects: Innovation Ridge Logistics Park, a 1.1 million SF 3 building industrial business park in Forney; 610 Business District, a 388,795 SF industrial park located in Houston; 1.2 million SF logistics facility located in Conroe. SUMMIT DESIGN + BUILD, LLC 98 San Jacinto Blvd, 4th Floor Austin, TX 78701 P: 512.872.6698 Website: summitdb.com Key Contacts: Adam Miller, President, amiller@summitdb.com; Doug Hayes, Project Executive, dhayes@summitdb.com; Amber Autumn, Business Development, aautumn@summitdb.com Services Provided: Summit Design + Build, LLC is a provider of full service general contracting, construction management and design/ build construction services for the commercial, industrial, multifamily residential, office/tenant interiors, hospitality and institutional markets. Company Profile: Located in downtown Austin and with offices in Tampa, FL, Chicago, IL and North Carolina, Summit Design + Build has been involved in the design and construction of over 400 buildings and spaces totaling more than 10 million square feet over the firm’s 18 year history. Notable/Recently Completed Projects: Montage – 2323 S. Lamar (Multifamily), Congress Lofts at St. Elmo (Multifamily), UpCampus Student Housing Tallahassee (Multifamily), WeWork (Office TI), Eli’s Cheesecake (Industrial), Lockheed Martin (Industrial), Stadium Lofts North Carolina (Multifamily).

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