Institutional Real Estate, Inc.

NAREIM Dialogues: Fall 2016

The Institutional Real Estate Inc Sponsorship brochure, Connected-Investor Focused, We connect people, data and insights, sponsorship, events, IREI Products

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Page 23 of 31

NATIONAL ASSOCIATION OF REAL ESTATE INVESTMENT MANAGERS 22 BUSINESS CYCLES Present Human Capital Opportunities And Challenges: Optimizing for the future requires critical evaluation of the most recent cycle. This includes not only how firms reacted in 2008 -2009, but also how they've performed since. The following analysis, based on discussions with executive decision makers in all aspects of real estate investment management, considers work force optimization, how to protect investors, and manage clients and costs more effectively throughout the business cycle. Organizational structure is always a complex puzzle of people, process, and skill requirements, but if one looks at a problem, not from the perspective of replacing someone, or expanding a department, but rather looking for force multipliers and ways to creatively cross silos, investment managers can create true resiliency for the eventual downturn. Isolation and rigid silos are neither flexible, nor economical. Force multipliers may help your firm thrive no matter what happens in the market. For example, some strategic leaders have taken advantage of the critical skills and knowledge of real estate economics (including research and in some cases transaction management), salesmanship, relationship management, effective and thoughtful communications and intellectual curiosity to merge roles which cross all aspects of sales, marketing and client servicing. By including the high level understanding of real estate economics and performance management/performance attribution in the client facing team, they have reduced the distraction for investment professionals. By using client facing professionals in these roles, product management is enhanced as client feedback tends to be less self-serving and more indicative of investor interests rather than justifying growth in the area of expertise of the portfolio manager currently sitting with the client. By Steven N. Schrenzel Global COO for The Taplow Group, SA and Managing Director, North America for Taplow

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