Mark Randall is a lifer. “I've never been out of a job, and I've worked in this industry my entire career,” says the newly appointed director of Wood Partners' Southeast division. “I can't think of a better job. It's been a lot of fun.” After a decade each in construction and development, he's now putting his experience to work in one of the busiest markets in the country. Randall, who has been at Wood Partners for eight years, holds a bachelor's degree in building construction from Georgia Tech.
Q: What do you see as a significant challenge for the multifamily industry in the coming year?
A: The most immediate challenge is dealing with the credit crunch and things going on as they relate to credit, not just with our for-sale products ... but also [with] the general availability of commercial credit. It won't be as plentiful as it's been in the past.
Q: What are the big opportunities for multifamily firms?
A: When you get into a situation like [the credit crunch], there'll be distressed companies. I think companies that are financially healthy will be able to take advantage of that and pick up both land and properties at a discount. I think [our company has] a head start on other companies on the product types that are doing so well right now—namely apartments, student housing, and senior housing.
Q: What was your first job in the multifamily industry?
A: I was an assistant project manager in construction at Crow Terwilliger, before it was Trammel Crow. I absolutely loved it, and I still love the construction business. It was a great place to learn the nuts and bolts of the industry ... and helped me learn how to evaluate opportunities.
Q: What do you enjoy about working in the multifamily industry? What would you change if you could?
A: The multifamily industry is a really entrepreneurial business, and there's a lot of opportunity to be creative. I love to take a property from the initial vision into an actual building ... and it's really satisfying to see the results of your work on the skyline of a city. There are few other industries that offer such tangible results of your work.
Q: What's the best advice anyone ever gave you about your career?
A: Right out of college, it was: “Look at your first five years as an extension of your education, and look at your jobs then not as a place to make money ... but a place to learn from people in the industry and from their experience. Where you really learn is in practice.” This industry really is about experience. I was told that long ago, and I still tell people that myself.
Q: What keeps you interested in the multifamily industry?
A: It's continuously changing. No two days are the same. It would be impossible to get bored in this business.
- Mike Altman has joined Cortland Partners as a senior development manager. Previously, he was a development manager with Hammond Development, where he was responsible for the development and construction of multifamily projects from concept through sale.
- Steve Strazzella has been named partner of The Bozzuto Group, a role in which he will participate in the strategic direction of and business planning for the firm. He also will continue in his role as senior vice president of the Bozzuto Development Co., where he is managing the development of 2,000 apartment units in the Washington, D.C., metropolitan area.
- Lane Co. has hired Brian Record as its new vice president of risk management. Previously, he was responsible for all risk management responsibilities as well as acquisition, construction, and new project design at Sunterra Corp.
- Alterra Capital Group has hired Michael Gusich as Acquisitions Manager. Gusich's responsibilities include sourcing deals, due diligence, underwriting, financial analysis, and market research. Previously, Gusich was responsible for evaluating new shopping center acquisitions and redevelopment opportunities for Woolbright Development.
- Jennifer S. Ross has joined Pollack Partners as CFO. Before joining Pollack Partners, she was senior director of finance for WestWind Capital Partners and was responsible for all accounting and tax matters related to the firm's investment properties.
- Place Properties has promoted Brent Little to executive vice president of national development and Jon Clayton to vice president of development over the West region. Little and Clayton both joined Place Properties in September of 2005 and spearheaded Place's national expansion with the opening of the Dallas office.
- Casey Fry has joined the Austin, Texas, office of Apartment Realty Advisors as a broker. His responsibilities include business development, marketing, research, and financial analysis. Prior to joining ARA, Fry worked for the Weitzman Group.
- Sheryl Detrick has joined WRH Realty Services as a regional director. Her responsibilities include the direction of property management operations, administrative and maintenance issues, and developing ways to increase revenue and control costs.
- Shain Andrews has joined Boston Capital's origination department and will open the company's Pacific Northwest office. In his new role, Andrews will foster new relationships for the firm and will focus on affordable housing in the Northwest and Mountain States. He has worked at Boston Capital since 1999, most recently as a regional vice president with the company's brokerage unit.
- Carey P. Levy has been appointed president of Passco Companies Development, an affiliate of Passco Cos. In his new role, he will be responsible for overseeing all of the firm's development acquisitions, due diligence and entitlements, financing, construction, and marketing. Previously, he was a senior vice president with Granite Investment Group.
- AMCAL Multi-Housing has announced the addition of six new members to its team. In the firm's Los Angeles home office, Pat McBride has signed on as director of field operations; Irene Tomlin has been named an asset manager; and Matthew Segerdal is a project manager. In the Fresno, Calif., office, Angelica Cisneros and Marisol Duarte have been named assistant project managers, and Patricia Chimienti is an office manager and executive assistant.
- David Deitz has joined CRES Management as COO. He will oversee all facets of property operations and be involved in the company's expansion in the Midwest, Mountain, South, and Southeast areas of the country. He previously was with the Irvine Co.