Leading Voices In Real Estate

Sam Zell, one of the most storied names in real estate, describes his riveting journey from his parents’ escape from Poland in 1939 as Hitler invaded to how he built his real estate empire at Equity International, created the modern REIT, and lead the industry public.More about Equity Group InvestmentsForbes Magazine on Sam Zell’s successAm I Being Too Subtle?: Straight Talk From a Business Rebel

Colin Wiel is Co-Founder Chairman, and CTO of Mynd, a full stack, tech-enabled, property management company focused on small residential (single family rentals plus small multi-family buildings).AI and JavaColin grew up in Washington D.C., went to high school in Reno, Nevada, and went to UC Berkeley where he got his BA in mechanical engineering. Straight out of college, he landed a dream job at Boeing, where he wrote algorithms for automatic control systems and developed groundbreaking new software.He had a strong entrepreneurial spirit and soon struck out on his own as an independent software consultant working with giants like Hewlett Packard, Oracle, and Netscape, where he became one of the very first Java programmers in the world.He began developing and teaching the Java curriculum for UC Berkeley and while continuing his consulting with a new focus on Java. Eventually, his consulting grew into a full-fledged firm and he brought on many students he had taught. One of their big projects was transitioning C

Art GenslerWhen Art Gensler started his firm in 1965, Gensler solely did interiors. Today, it is not just an interior or a design firm; rather, Gensler thinks of itself as a full-scale, client-focused design firm with a team of 6,000 in 48 offices around the world.He remembers knowing he wanted to be an architect from since he was 5 years old, and credits his ability to visualize things and communicate that vision well to his skill as a planner.After working in the service, he went on to work for a Shreve, Lamb and Harmon in NYC, spent time in the British West Indies, and created the entire architectural standards guide for Wurster, Bernardi & Emmons. At 30, he struck out on his own.EvolvingArt says that when he founded Gensler, it started slowly by focusing on producing high-quality work. The recognition Gensler received for these early projects led him into the consulting field, and soon Gensler was being tapped by Pennzoil to do more than just interior design. Now, their workload is about 50% architect

Liz Holland is now CEO of her grandfather’s over 77-year-old real estate business, Abbell Associates. She never imagined she would end up there, but she says it was amazing creating a relationship with her grandfather and becoming his colleague for two years before he passed away and continuing his legacy.“It’s such a challenging time in retail real estate because things are transforming so quickly and certainly there have been big retail disruptors in the past and there will be bigger retail disruptors in the future, so it’s been quite exciting for us both in our real estate business and our software business to anticipate those disruptors and ride the wave.”Early CareerHer early career in bond trading, law school, her time at Sekadden Arps, and then working in government for a congressional commission gave her a thick skin and taught her how to take risks. She also was quick to learn that she had a strong desire to be an expert in whatever field she was in and make sure that what she was learning today woul

Lisa Picard is a woman with a vision. Thanks to technology, the office development space has evolved from a B2B market to B2C, and she’s on the front lines of in an industry resistant to change.“We’re really not producing products per say; we’re creating ideas. And so, … organizations’ access to ideas is really through collaboration, connection, of having really high-quality talent.”CuriosityLisa grew up in Southeast L.A. County with her twin sister and Depression-era parents who taught her to cherish and respect her resources. This instilled in her a fascination for her urban environment, and she went on to study Urban Planning at California State Polytechnic University.After graduation, she worked closely with the City of L.A., and she saw how developers had a different view book than she did. She wanted in and applied to MIT to dive deeper into development, planning, urban economics, and finance.Just before heading to MIT, at the age of 22 her father suddenly died and her mother the summer after, and Lisa

Jon Geanakos grew up in Ipswich, Massachusetts, raised mainly by his Greek immigrant grandparents. They gave him a strong sense of ethnicity and hard work, speaking Greek predominantly in their home and running a local grocery store and ice cream parlor. He was recruited to play lacrosse at the University of Lowell and it was there that he found himself embracing leadership. As the captain of his lacrosse team, he excelled at helping the right people work together to achieve their goal.His lacrosse coach introduced him to the president of the local bank, Lowell Institution, and that set him on the trajectory to real estate.   “It’s fascinating how one person just at that pivot point in a young person’s life can guide you to what your life’s work is. You never understand the profoundness at the time when it happens, you obviously realize it when the years have passed.”Jon’s Leadership JourneyAfter a few years at the bank, he was approached by some of the bank’s investors to join them in starting The Tallard Gr

Ron Terwilliger’s outstanding career and legacy didn’t end when he retired from Trammell Crow, it only grew.Coming from a low-income family with little expectations of wealth, he wanted to give back and affordable housing seemed to be the most natural place for his philanthropic interest to bloom.   “As I started to get wealthy in my late forties and fifties, I began thinking: what should I do with my time and wealth?”From his $100 million legacy gift to Habitat for Humanity, chairing Habitat’s international Board and the Enterprise Community Partners board to name a few, Ron gives generously of his money, time, and expertise.Public PolicyWhile he is very active in the private sector, his role in the public sector has made a serious impact. After being invited to give a lecture at Harvard on Housing Policy in America, he became inspired by the great Shortage of affordable housing in this country. He characterized this shortage as a housing crisis formed a foundation and started meeting with senators and congr

In today’s episode, Ron Terwilliger, a great influencer in the apartment sector and dedicated philanthropist, shares part one of his story: his leadership at Trammell Crow Residential and how he literally spawned the next generation of the business.A Strong FoundationRon TerwilligerRon Terwilliger grew up in Arlington, Virginia in the late forties and fifties. He played baseball and basketball at Wakefield High School, and despite a back defect which was thought to be the end of his playing career, he went on to play for the Naval Academy. There, he was named an Academic All American in basketball.Post-graduation, he spent five years in the Navy before getting his MBA at Harvard.“I had one real estate class and I really liked it. I have a fairly good feel for numbers and how they relate and how to think about the quantitative side of the business.”His first real estate job was at Sea Pines Company at Hilton Head Island, where he met colleagues who would go on to work with him closely over the years. When the

Chip Conley started one of the country’s first boutique hotel chains, Joie de Vivre, when he was just 26 years old. After selling the company, he joined the startup Airbnb at age 52, despite the fact that the young founders were primed to disrupt his industry.Read more about Chip’s leadershipRead more about Chip’s role at AirbnbPre-order Chip’s newest book, Wisdom @ Work: The Making of a Modern ElderLearn more about Chip’s other books*This is a rebroadcast of our previous interview with Chip Conley.

Clara Brenner is the Co-founder and Managing Partner of the Urban Innovation Fund, a venture capital firm that provides seed capital and regulatory support to the tech startups addressing the challenges facing urban dwellers. Clara and I had a wide-ranging discussion about her career, business, and the startups and technologies in which her firm has invested.Real Estate and GovernmentGrowing up in Washington, D.C., Clara was surrounded by real estate and government, and found herself drawn to both. Her undergrad thesis explored the historic relationship between real estate developers and local government in Lower Manhattan.“Ultimately, I decided to go down the real estate development path because it seemed like you were equally influential and you got to have more fun, be more creative, and make more money.”After four years of working in real estate, Clara realized she wanted to be her own boss. She returned to school at MIT Sloan with a vision to start her own real estate development firm.Shaping the Future

Karl Polen did not start out with his sights on real estate. He left his Midwest roots for Nashville at 19, eventually playing with the likes of Charlie Daniels and Johnny Cash.“One of the highlights of my life is that I actually met and chatted with Johnny Cash. He was an incredibly gracious guy.”Karl credits music for shaping his professional career by teaching him the type of discipline and focused effort it takes to become successful.Opening New DoorsWhen he needed a steadier paycheck, Karl went on to work in accounting and received his MBA at Vanderbilt. He was drawn to an entrepreneurial culture, worked with Ed Robson of Robson Communities in the 1980’s, and then joined Francis Najafi, Founder of Pivotal Group, as a partner in real estate investment. Working with these driven entrepreneurs was incredibly fulfilling, and Karl thrived in his role as he helped focus and implement the larger vision.Arizona State Retirement SystemKarl had long intended to work in public service after being inspired by his wo

Note from the host- In this episode, you will actually hear me being interviewed, rather than me doing the interview. Jeff Large is the editor of Season 2 of Leading Voices. He interviewed me on his podcast, The Jeff Large Podcast, where he talks about tech, podcasting, and running a business. I get to discuss how this relates to real estate from both a recruiting and leadership standpoint. Enjoy!Terra Search PartnersI founded Terra Search Partners in 2006, a highly consultative executive search firm specializing in the real estate industry. Clients hire Terra as an advisor and consultant to help them understand and hire leaders for their firm.True LeadersCuriosity, humility, a deep understanding of others and their industry, and people who talk about mentors and teams are traits that I consistently see in true leaders. All of them come from some depth of knowledge in the industry that they grew up in.“They don’t just land on the moon and become a leader. They grow up in the industry and they grow up by being

Joe Fraiman and Andrew Kitchell, the Co-Founders of Lyric, While it is tempting to compare their startup business to Airbnb, it is actually quite different. Lyric is a highly curated, highly designed, professionally-operated version of rentals where they have total control over the supply, design, and experience of their guests.The Connection:With a background in software and finance, Joe moved West and started Tastemaker, a company created to help people find the right interior designer. At this time, Andrew was managing Beyond Stays and reached out to Joe at Tastemaker to remodel their properties.They had lunch and quickly realized they shared a passion for the possibilities at the intersection of technology, data, and real estate. They saw that people want to live and travel in a more flexible, experience-driven way and they decided to learn: what does this transition look like, what are the challenges, and how can they solve them?Building Trust:Bridging the trust gap with apartments and short-term rentals

Ken grew up in Northern California’s Bay Area, eventually receiving his M.B.A. and Ph.D. from Stanford in Business. Simultaneously, he obtained a California Brokers License because he was drawn to real estate. He was aware of the self-storage industry in California, but when he moved out to Boston after college he saw that there was a gap in the market on the East Coast. This piqued his interest in the industry.After opening up the first Extra Space Storage in Billings, MT in 1977 in a partnership with his boss at the time, Ken went on to teach at Brigham Young University (BYU) in Utah. There, he continued growing Extra Space, until sky-high interest rates slowed down development in the early 1980s and again in the early 1990’s.“I didn’t think it through very well… but you know, sometimes when you’re an entrepreneur you don’t have a good long-term strategy. You’re just trying to survive.”The Modern Extra SpaceInspired by the corporate strategy class he was teaching, Ken realized in 1998 he was serious about g

Jane Graf is the President and CEO of Mercy Housing based in Denver and operating nationally, one of the country’s largest nonprofit affordable housing organizations.Jane’s work in affordable housing began early, as she founded the nonprofit Specialized Housing that built affordable housing for those with disabilities before she was 30. When her husband was relocated to San Francisco for his job, she began working for Catholic Charities, which eventually led to her joining Mercy Housing during a merger.Jane credits Mercy Housing’s resilient structure to the Sisters of Mercy’s entrepreneurial approach and understanding that to do good work, you need to put money behind it and take risks.25:40 “They built these institutional responses to need… They know how to not only start something but then really create an institution that can carry on the work way beyond their capability. And they’re really good at it… they’re completely fearless.”She likens Mercy Housing to NPR, a national organization with local branches

John Rahaim grew up in Detroit. His high school day of community service inspired him to understand the city more, and he went on to receive his B.S. in Architecture from the University of Michigan and a Masters in Architecture with an emphasis on Urban Design from the University of Wisconsin-Milwaukee.The Urban Design program focused on man-environment systems which especially fascinated John."It’s all about the interaction of human behavior and the environment and how each one affects the other."Pittsburgh’s Second Renaissance:After graduating from Wisconsin, he headed to Pittsburgh in the early 80’s, at which point it had the third largest number of corporate headquarters in the country. However, over the 15 years that he was there, most of them left, along with the 27 steel mills.Despite this traumatic change to the city’s makeup, John credits Pittsburgh’s strong ethnic neighborhoods for maintaining their stability, low crime rates, and cohesion in a way that Detroit did not.As a young planner, working wi

A Technology FoundationFred Tuomi was born in Minnesota, and went on to attend high school and college in Georgia, receiving a B.A. in Business Information Systems and a Masters in Business Administration from Georgia State University. While working for the Computer Sciences Corporation doing consulting, Fred connected with John Lie-Nelsen of Consolidated Capital and Johnstown Properties. This opportunity led to Fred creating the very first automated, apartment management system.“The idea was, let’s use these things called computers that make everything more efficient and increase productivity… Let’s put it where we have most of our people. To really get the benefits of productivity enhancement, you have to make as many employees as possible productive, not just a few back at the home office.”When the Tax Reform Act of 1986 killed the real estate limited partnership business, Fred connected with John Williams and John Glover of Post Properties, and then eventually was invited to join Equity Residential by Dou

Gerald Hines founded his business in 1957 as a developer of office properties. His namesake company now has a presence in 201 cities and 24 countries, and manages over $110 billion in property. Hines is renowned for not only creating the highest quality buildings in the market, but for partnering with the world’s best architects.The Beginning:Born in Gary, IN in 1925, Hines was the child of parents who came on a boat from Nova Scotia. Growing up, he ran cross country and track and is proud to share that his team won the city championships. He entered college at Purdue early, completing 3 semesters of studies before joining the Army at 18.While in the service, he was part of the Army Corps of Engineers, and his travels introduced him to the inspiring architecture in Seattle and Tacoma.After the Army, Hines returned to school to complete his Mechanical Engineering degree and spent some time selling engineering equipment.He made the leap to development when his neighbor needed a building for 5,000 square feet an

Community BuildingMusic was everywhere. We played music, we were encouraged to play music, we sang in the car. But that was also the 70’s.Dar grew up in Chappaqua, NY during the 70’s. It was developing and becoming more progressive as a commuter city to New York City. Her parents were involved in city politics but also enjoyed art, gardening, and music.Through volunteering and fundraising, her parents exemplified community building, her father specifically holding an instrumental role in bringing their local library to life. Dar emphasizes the importance and beauty of libraries as community gathering spaces.Growing up, she has a clear memory of listening to Judy Collins and connecting with the seriousness and poetry of the songwriting. She pursued playwriting and theater until she moved to Boston where she began doing open mics and writing songs in its supportive, vibrant music community.Taking OffAs Dar began traveling and performing, she shares how she fell in love with watching the small towns evolve with

Jim was born and raised in the Detroit suburbs. He has positive memories of the dynamic neighborhood full of families raising their kids and a strong public school environment. Also clear in his memory is a downtown visited on special occasions or to shop at Hudson’s, once America’s largest department store.Transit:Jim attributes Detroit’s early lack of public transportation to the fact that it was the hub for automotive companies, making car ownership king. He wonders how different things might have been, had public transportation been implemented.Many companies have maintained their presence in downtown Detroit through thick and thin, however, during this time of new investment, attracting and retaining top talent is the priority. Bedrock’s success has sparked competition and investment by others in downtown Detroit, helping bring young people and new businesses to the Central Business District.Roots:Jim went to Michigan State College of Law and laughs about how many of his work colleagues now, were old nei