News
BIG BROKERS BOUNCE
April 30, 2012
| Late last week, Arthur Mirante and Tom D'Arcy both decamped from their stations as high-level execs in behemoth brokerage firms, Cushman & Wakefield and Grubb & Ellis, respectively. One went to a Canadian full-service firm that seems intent on taking over the world(in a good way, of course) and the other to the niche-y world of healthcare real estate investment. |
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| Arthur took up with a rapid-fire-growing full-service firm Avison Young, marking the opening of its 30th office, its first in NYC. The former C&W CEO and more recently global development prez for that firm will be principal and tri-state prez, joining principal Greg Kraut. Entering New York is not an easy task, but Avison Young says it's got a strong balance sheet for cushion (perfect for long rides in the moving van). Toronto-based Avison Young CEO Mark Rose (like Tom, below, also once a Grubb CEO, as well as C-suite guy at JLL Wooten) told us Friday that Greg and others have been working in NY on Avison Young's behalf since October, and thus more personnel announcements are going to be hitting the news soon (almost 700 have joined the company in the past two years so if you're looking for a long lost broker that might be a good place to start). The Little Neck native's retort to those who said, "You'll never get into New York," is that NYC is the biggest real estate sandbox in the world. You've just got to understand the New York culture. |
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| Tom took a hard left turn from the brokerage biz and will head American Realty Capital Healthcare. As CEO, he'll lead the way with chief investment officer Todd Jensen, Steve Leathers(acquisitions), and Sean Leahy (asset management). They're remaining mum because ARC Healthcare has a $1.5B offering out to become a non-traded REIT looking at MOBs, hospitals, and assisted living and skilled nursing facilities. |
