Commercial real estate has made some impressive strides toward gender inclusivity in the past year, particularly at the executive level.

Bisnow’s 2025 DEI Data Series found that across the 100 biggest CRE firms Bisnow has followed for six years, women now control 27.5% of C-suite seats and 32.9% of board chairs. While there is still work to be done, those gains show that CRE is recognizing the importance of supporting women in the workplace.

Bisnow will be honoring some of the women who have helped shape the new face of CRE at its New York Power Women Cocktail and Award Ceremony on Oct. 8, including the global chair of Latham & Watkins’ real estate practice, Michelle Kelban.

Kelban is a real estate lawyer who advises clients on a range of complex and prominent real estate transactions, including private capital raising and financing, acquisitions, joint venture recapitalizations, and workouts and restructurings. She has advised on several major deals, including Ares Management Corp.’s $3.7B acquisition of real estate investment advisory firm GCP International and a $6B financing plan to support the development of One Beverly Hills, a mixed-use urban development project, for Cain International.

Kelban said it isn’t always easy to find balance as a woman in CRE, juggling a demanding career and family, but the key is to love what you do.

“You find the balance when it presents itself and take advantage of it,” she said, “No day is perfect, some days are off the rails, and you just have to do your best. Being successful in any industry, including real estate, is all about making sure that you're doing whatever makes you happy. From there, you'll find the balance.”

Bisnow spoke with Kelban to learn more about her career in CRE and the advice she has for women hoping to achieve her level of success.

Bisnow: What inspired you to pursue a career in real estate? 

Kelban: I was an urban studies major in college, which is connected to real estate in that it involves studying cities and how they're planned and developed. From there, I went to law school, and I really enjoyed property law and the tangible nature of it — I was able to look at the physical property and see how it's used.

There's a very human factor to real estate. You live in it, you shop in it, you receive medical care in it, you work in it, so I found that it was very relatable. My practice is extremely broad. I really do anything that touches commercial real estate transactions, and I like that, because I'm always challenged.

Bisnow: What is the most impactful professional experience that has shaped your career path so far?

Kelban: I had a wonderful mentor, who has since retired, who took the time to teach me all of the legal and management fundamentals. Not only from a legal practice perspective and a substantive perspective but also from a management perspective, in terms of building a group and a practice and fostering deep relationships with clients. That relationship has really impacted me, and he remains my mentor to this day.

Bisnow: What are some of the challenges you’ve faced in your career, and how have you overcome them? 

Kelban: Balancing a demanding professional career, motherhood and other personal commitments is an ongoing challenge. Intentionally building strong relationships and trust with colleagues and clients creates the foundation that allows for all of those things to work in a better rhythm. I always try to find a connection with someone, which is how I’ve managed to overcome any challenges I’ve faced. Find connections with people, assert yourself, be confident and don’t be afraid.

Bisnow: What drew you to Latham & Watkins, and how does the firm support women in CRE? 

Kelban: I've practiced at Latham my entire career, and I believe that the firm provides one of the top global real estate platforms in the market. It has been my privilege to be a partner at this firm and to chair the group for nearly nine years, starting when it was much smaller, and now we have over 40 people in New York alone. Being a part of a market-leading practice is very rewarding.

Many women hold top leadership positions within the firm. Latham aims to help every colleague reach their full potential and achieve success by promoting opportunity while further enhancing our culture of inclusion and sense of community within the firm.

Bisnow: What does it mean to you to be honored at this Bisnow event? 

Kelban: It’s a very high honor. I love to stand side by side with other women in the industry, and I’m very excited to meet the attendees I don't yet know. This is the culmination of my efforts and the efforts of our team that have gone into building our practice and brand over time.

Bisnow: What advice do you have for women looking to enter into or advance in the CRE industry? 

Kelban: Focus on what you’re interested in, and you will find a path to success in the industry. There are now more women than ever in CRE, and finding connections with people, no matter who they are, is the most important step toward building any career. Find someone with whom you connect who can help guide you, and go from there.

This article was produced in collaboration between Studio B and Latham & Watkins. Bisnow news staff was not involved in the production of this content

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