Constance B. Moore has been on the fast track for years, serving as managing director of Security Capital Group and most recently president and COO of BRE Properties, a publicly traded REIT. But last month, in a long-awaited promotion, Moore cracked the proverbial glass ceiling and became the CEO for BRE, a San Francisco-based company that owns more than 26,000 apartments.
Q: Why were you interested in this job?
A: I've been involved with REITs since 1977, when I got my first job at BRE as an investment analyst. (I reviewed existing transactions that were in trouble and any new acquisitions the company was considering.) My present position is the culmination of more than 25 years of work in the industry. It's exciting for me to end my career here as its CEO.
Q: What do you see as the greatest challenges for BRE in the coming year?
A: Attracting and retaining the brightest in the industry. Our associates continue to be our biggest asset and, as we continue to grow, we'll need the best people this industry has to offer.
Q: What do you see as the greatest challenges for the multifamily industry in the coming year?
A: In most markets, it's all about jobs. Getting some traction on the jobs front will allow pricing power at the property level.
Q: What do you enjoy about working in the multifamily industry?
A: The people. My best days are when I'm in the field. We have some really terrific associates dedicated to serving our residents.
Q: What do you wish was different about the multifamily industry?
A: The industry as a whole is too fragmented. There are way too many trade associations “speaking” for the industry. I'd really like to see us speak with one voice so when our legislators hear from us, they get one unified point of view.
Q: How would you describe the multifamily industry's career opportunities?
A: Great. I started as an analyst and made it to the CEO's seat, so from my perspective, the industry has been very good to me.
Q: What's the best advice anyone ever gave you about your career?
A: Don't rest on your laurels—you have to prove yourself every day.