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February 11, 2008

Sponsor Update: Our friends at K3 Construction tell us Keith Clark has become a principal. He started with K3 in '04 and joins principals Jeff Martello, Paul Moore and Paul Fangmeyer. Congratulations!

We know, we know, tell that to the stock market and the consumer confidence pollsters!  And, no, we're not quoting our friend, the sanguine Steve Fuller.  We are going straight to front-line practitioners for this dollop of cheer.

When Cushman CEO Bruce Mosler (right) talks, people sure do listen—450 packed the Tysons Ritz for the 2008 outlook he gave with fellow Cushman stars Dave Millard and Audrey Cramer at Thursday's NoVa NAIOP lunch.  Bruce's verdict?  Markets in India, China, and Russia are red hot, with $1 trillion in deal money just waiting for things to stabilize. And offshore buyers of NY stuff are soaring: up to 33% from 12% last year, maybe a good sign for DC.  Audrey's crystal ball says large portfolio flips (like Blackstone EOP and Beacon) are over, but things will get back to "normal."  Ooops, with one little caveat:  Normal as in 2004, not 2006.



On Wednesday, we met up with the African American Real Estate Professionals for "Deal-making in a Challenging Environment" at the offices of Group Goetz Architects. Panelists included Maryland Rep. Al Wynn, Studley's Craig Lussi, GGA's Louis Goetz and Thomas Hart, Anacostia Economic Development Corp's Butch Hopkins, and Tony Barros. Wynn stressed the importance of contacting elected officials early in the development process to ensure minority participation as teams are being structured. Butch advised that in down markets it's easier for smaller firms to partner with larger firms to get deals closed.


AAREP prez Caryn Bailey of OPX and UGL Equis's Theo Bell.  Caryn's busy planning for the organization's big bash on April 17 at the Four Seasons with our illustrious friend Victor MacFarlane as keynote.


Want to buy a hotel in Mexico? Or build a residential resort project on Anguilla? We joined LandAmerica on Wednesday for their breakfast seminar at the Capital Hilton where their International Services experts told an audience of 75 how to do just that. Above, LandAm's Ed Hamann, DC head Chris Naughten, Jennifer Cruise, and Andy Brownstein with Greenberg Traurig's Nelson Migdal, and LandAm's Bill Signet and John Markunas. The panel stressed the importance of having the right due diligence team in place when your transactions take you to far-off places. We thought the important thing was to have your sunscreen in place.


Back in the early '90s, Smithy Braedon (since absorbed into Grubb & Ellis) boasted more women brokers in their DC office than any other firm.  The other night six of those alumnae met up at Kenwood Country Club looking just as great as they did in the '90s—and talking just as much business:  Washington Real Estate Investment Trust's Trisha Jurgonis, Cushman's Susan Thomas, CBRE's Kathy Keller, Grubb & Ellis' Susan Pepper, Cafritz Company's Carla Cavanaugh, and independent broker Phyllis Alexander.  So what bonds these folks together after almost 20 years?  Besides an apparent hankering for pinot grigio, they say it's a "love of the game."

Reznick Group
Brookfield Properties
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