CoStar's People of Note for Friday, Mar. 6

Tere Blanca (left) and Danet Linares formed Blanca Commercial Real Estate Inc. in south Florida.

Today's People of Note includes the following markets: Los Angeles, New York City, San Francisco, South Florida and Washington, DC.


NATIONAL
Former Lehman Exec Joins Duke as CFO
By Laurie Forbes

Duke Realty Corp. named Christie B. Kelly as executive vice president and chief financial officer of the company, effective last Friday.

The 26-year financial planning and strategic development veteran has held leadership roles at GE Real Estate, GE Capital, GE Corporate Audit and GE Medical Systems. Kelly held the CFO role for GE Greater China and GE Capital Asia Pacific. She most recently spent two years as senior vice president of global real estate for Lehman Brothers, where she headed real estate equity syndication in the United States and Canada.

Kelly said part of her reasoning for the move was: "The management team has a solid track record and has acted quickly to strengthen its capital position this last year."

"She is a proven financial executive and leader. Her experience with capital markets and real estate finance will be especially valuable in the current economic climate,” said Dennis D. Oklak, Duke's chairman and CEO.

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Editor's Note: CoStar's People of Note is published each Friday covering the latest commercial real estate executive level promotions and new hires. Please click on the headline of each article to jump to full coverage.

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SOUTH FLORIDA
Blanca Launching New CRE Firm in Miami
By Omar S. McKeithan

Tere Blanca, a former senior managing director of Cushman & Wakefield, has formed Blanca Commercial Real Estate Inc., a commercial real estate advisory firm set to launch next month.

"Today, the very definition of ‘value’ has shifted. Now, clients are seeking experienced and innovative partners who understand their needs and objectives, who share their passion for and commitment to ensuring their business succeeds, and who offer consistency and stability in these volatile times," Blanca said.

Danet Linares, a former senior vice president and director with Foram Group, was named executive vice president of the firm.

Blanca is chair of The Beacon Council, Miami-Dade County's official economic development organization, and has more than 20 years of experience in the industry. She previously served as senior vice president of Codina Realty Services and is a member of the Young President's Organization (YPO), CREW-Miami (Commercial Real Estate Women), the University of Miami President's Council, and the Dean's Visiting Committee of The University of Miami School of Business. She is also on the board of the Mercy Foundation.

Blanca Commercial Real Estate is at 1428 Brickell Ave. in Miami.


LOS ANGELES, EAST BAY
Lee & Associates Names 2 Managing Directors
By Laurie Forbes

Mark Larson and Edward Indvik recently joined Lee & Associates' Investment Services Group as managing directors. Lee ISG is an investment brokerage and advisory services division that formed in November. Larson and Indvik will join Founding Principal Matthew C. Sullivan and Principal Stephen Peters to develop the company’s national footprint.

“We launched with solid transactional and strategic expertise, and now we have augmented those skill sets with two gentlemen who know unequivocally how to develop Lee ISG’s national platform,” said Patrick Benton, president of Lee ISG.

The 30-year industry veterans are known for building investment real estate companies. Larson helped establish Grubb & Ellis’ Private Capital Investment Group, growing it from two brokers to more than 120 agents before he left in 2004. He launched CB Richard Ellis’s Private Client Group and it grew to 45 brokers when he left.

“In our first year we hoped to do $350 million and we did $720 million in sales,” Larson said of his results at Grubb. “In the second year, we projected $850 million in sales and we did over $1 billion. When I left, sales were down 40 percent industry-wide, and our group was up 14 percent.”

Indvik’s been with Lee for 18 years, most recently as Lee Advisory Group chairman. He launched the firm's Industry office, co-founded the firm’s Commerce branch and opened two Lee Riverside offices. Indvik’s background also includes underwriting real estate assets and developing and executing work-out strategies for distressed properties. He’s completed more than 2,500 transactions during his career including GATX Realty’s sale of 400,000 square feet, General Electric’s 205,000-square-foot lease and Dayton Hudson 270,000-square-foot lease.


LOS ANGELES
Lee & Associates Promotes 4 to Principal
By Emily Sheeder

Lee & Associates--Los Angeles North/Ventura Inc. promoted Stephen Geiger, Jay Martinez, Peter Steigleder and Spencer Strull. The four are now principals and broker-owners of the company, bringing the total to 29 shareholders throughout the brokerage.

“When we consider candidates to join our shareholder circle, we look not just for outstanding performance and productivity but also the kind of leadership skills that advance the whole organization,” said Mike Tingus, president of Lee & Associates.

Geiger is a 30-year veteran specializing in multifamily investments and has helped put together a multi-housing group for the company. He joined the Calabasas office as senior vice president only five months ago.

Martinez specializes in commercial property sales and leasing and was named Associate of the Year last year. He is also on the board of Lee’s Strategic Asset Advisory Group.

Steigleder specializes in industrial properties and is known for bringing widespread resources to his projects.

Strull specializes in industrial brokerage and has consistently been a top performer among the company.


WASHINGTON, DC
Ezra Co. Names Exec. Managing Director
By Jesse Ruscheinsky

Jack Schneider and Ezra Weinblatt have joined The Ezra Co.

Schneider joins as executive managing director. He specializes in build-to-suit opportunities for government contractors and biotechnology companies. He has represented clients for more than 30 years and negotiated deals involving more than 9 million square feet. He was formerly with Studley.

Weinblatt specializes in tenant representation for the metropolitan Washington, DC, region. Weinblatt's clients come from the various sectors: nonprofit, trade association, law firms, lobbying firms, government contractors and real estate investors. He was formerly with Scheer Partners.


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