CBRE Hires Former EQ Office CEO For Property Management Role
CBRE is expanding its property management arm, hiring industry vets Lisa Picard and Chris Doman.
Both have held key roles at major investment firms. Picard, who was named a senior adviser at CBRE, was previously the CEO of EQ Office, the office portfolio founded by Sam Zell that Blackstone acquired for $36B in 2006.
Picard joined the company as chief operating officer in 2016 before it was rebranded from Equity Office Properties Trust. She was promoted to president and CEO three months into her tenure at the company, according to her LinkedIn profile.
She left EQ in 2022 to co-found Oxygen Real Estate with Doman. The company has since grown to manage more than $20B in assets.
Last year, Blackstone merged EQ with ShopCore Properties and Retail Opportunity Investments Corp. to create Perform Properties.
Doman, who will lead CBRE's U.S. asset management services, spent seven years at Tishman Speyer as a senior director. In addition to Oxygen, he co-founded Purple Rock Partners, which invests in, manages and advises on office, multifamily and mixed-use assets.
At CBRE, the duo will assist clients with business plan development, financial management and reporting, leasing strategy and capital expenditure planning, according to an announcement by the brokerage.
In the first quarter, CBRE reported that revenue from property management was up 17%, contributing to the firm nearly doubling its profit from a year earlier.
The firm's 18,000 property management employees manage 3.7B SF of commercial real estate worldwide, according to its website. That includes all of Brookfield's U.S. office portfolio, which the asset management giant outsourced to CBRE in 2024.
“As investors navigate a dynamic market demanding maximum returns, we're seeing increased client demand for sophisticated asset management services across office, industrial, and alternative assets,” CBRE Global Head of Client Solutions for Property Management Nick Bark said in a statement.
