EY Taps Grinis to Lead Real Estate Practice

By Keith Loria

Mark Grinis

EY has named Mark Grinis to head its global real estate, hospitality and construction practice. The consulting firm announced on Wednesday that Grinis will succeed Howard Roth, the real estate unit’s longtime chief, who will retire June 30. Grinis previously led EY’s real estate unit in the central U.S. region and ran the organization’s global real estate private equity practice.

“Over the course of my 30-year career with EY, I have watched our industry evolve from what was a niche and highly localized business to today, where global capital finds its way into every commercial center around the world,” Grinis told Commercial Property Executive.

 “Yet in spite of this, the fundamental principles of understanding the local market, demographics and location remains unchanged. I’m looking forward to bringing the next phase of the digital revolution to our industry that advances the ways in which we analyze and understand real estate with exciting new tools and technology.”

In his new role, Grinis will coordinate a global network of 15,000 professionals from his New York office, serving more than 6,000 clients.

“The success of any business resides in how teams around the world, work together, share new insights and innovative solutions to help serve our clients,” Grinis said. “My first priority is to meet and hear from our teams, and share my views as to how I see our business is changing and how we can best position our firm for the future.

 “Our industry is diverse, from shopping centers, construction firms, hospitality and leisure. Each of these areas require distinct strategies. Bringing together the people that lead the 15,000 professionals around the world will be key to our success.”

Grinis said he has gained a deep understanding of the services EY provides its clients from a diverse background that encompasses leading transactions, advising investors and serving as an audit partner.

“But I’d like to think I also have an intellectual curiosity that understands there are multiple ways to solve a problem,” he said. “While at EY, I’ve held leadership positions in the Americas and Asia and worked in both the U.S. and Japan. I’ve served as lead advisor on more than $50 billion of transactions and lead audit partner for real estate funds with assets under management of $250 billion. These roles have prepared me to lead our global team of 15,000 real estate professionals in a time of continuous technological growth and uncertainty.”

According to Jill Maguire, global marketing leader for EY’s real estate group, cited Grinis’ ability to promote the firm’s culture and focus on creating a better working world.

“He has the forward-looking perspective that will keep the EY practice focused on the challenges of the future so we can help our clients confront those challenges,” she said. “Mark also brings a wealth of diverse global experience, including having led EY real estate practices in Asia and the Americas, giving him the needed perspective for this type of position.

 “Furthermore, Mark has worked his way up through the organization in times of great change, so he has learned how to navigate challenging times. In addition, as Mark has already held leadership positions at the firm, this position is a natural evolution for his work.”