![\"Arne](\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/04\/Arne-Sorenson.jpg\")
Arne Sorenson<\/p><\/div>\n
Executive of the Year<\/strong><\/p>\n Arne Sorenson<\/strong>, President & CEO, Marriott International<\/p>\n Headquarters<\/strong>: Bethesda, Md.<\/p>\n Years as CEO<\/strong>: Four<\/p>\n Years with Marriott<\/strong>: 20<\/p>\n Previous Roles at Marriott<\/strong>: COO, CFO, principal accounting officer, senior vice president of business development<\/p>\n Marriott by the Numbers<\/strong>: 5,700 properties in more than 110 countries, with $14.4 billion in annual revenue<\/p>\n In the Pipeline<\/strong>: 1,663 properties comprising more than 270,000 rooms, including nearly 600 properties with roughly 97,000 rooms under construction and 160-plus properties with about 27,000 rooms approved for development.<\/p>\n Star Attraction<\/strong>: Marriott paid out $13 billion to acquire Starwood Hotels & Resorts Worldwide in September, creating the world\u2019s largest hospitality company and more than doubling its footprint in Asia, the Middle East and Africa. The new company will franchise or operate in excess of 5,700 properties and 1.1 million rooms across 30 brands.<\/p>\n Global Growth<\/strong>: In 2015, one third of Marriott\u2019s hotel openings were outside North America. The company launched a host of new brands in emerging markets as part of a push to provide sustainable economic development and local employment. This year, the company announced a partnership with Eastern Crown Hotels, a rapidly growing Chinese hotelier, which will bring the Fairfield by Marriott brand to mainland China.<\/p>\n Tech Savvy<\/strong>: Marriott became the \ufb01rst global hotelier to offer Apple Pay, enabling guests to engage more often and more deeply with the company\u2019s suite of hospitality offerings. The company recently launched the Marriott Mobile app, which exceeded $1 billion in gross bookings last year.<\/p>\n <\/p>\n J. Ronald Terwilliger<\/p><\/div>\n Lifetime Achievement Award<\/strong><\/p>\n J. Ronald Terwilliger<\/strong>, Chairman Emeritus, Trammell Crow Residential Co.<\/p>\n When he was inducted into the National Housing Association Hall of Fame, Ron Terwilliger encapsulated his life\u2019s work in this way: \u201cAdvocating for and taking action to secure affordable housing are my passions,\u201d he told Habitat for Humanity in 2008, \u201cand this occasion inspires me to work harder so we can reach more people.\u201d<\/p>\n Evinced in this succinct remark is the idea that helping others is\u2014simply\u2014the right thing to do. This guiding principle has led Terwilliger to devote his time, ingenuity and largesse to expanding housing access to those that need it most. Paying tribute to his many contributions, CPE\u2019s 2016 Lifetime Achievement Award salutes an unwavering commitment to philanthropy.<\/p>\n Terwilliger is no stranger to industriousness. At age 12, he began working to support his family in Arlington, Va. While attending George Washington University on a basketball scholarship, he drove a bus to earn additional income. As a freshman, he was diagnosed with a rare spinal condition that threatened to end his athletic career. He took a break from sports to recover, and during his hiatus the U.S. Naval Academy recruited him.<\/p>\n He would go on to graduate Annapolis at the top of his class and return to athletics as a star basketball and baseball player. After five years of service in the Navy, Terwilliger attended Harvard Business School, where he would again top his graduating class, receiving the Baker Scholar designation. Upon graduation, he joined Sea Pines Plantation Co., advancing to president within three years. A stint as CFO at the Henry C. Beck Co. jetted him toward a partnership offer from Trammell Crow Residential Co., the leading multifamily developer in the United States. Six years later, he would assume the role of CEO at TCR, remaining in the position for 23 years.<\/p>\n Terwilliger has estimated that his company developed around 250,000 apartment units during his tenure as CEO. Over nearly three decades, he also maintained an emphasis on mentorship. A number of the professionals that rose to leadership positions at TCR would later assume executive roles at prominent development firms, including AvalonBay Communities, Alliance Residential and Wood Partners. As financial markets tightened, Terwilliger shifted his focus to philanthropy.<\/p>\n In 2007, Terwilliger made the single-largest financial contribution to the Urban Land Institute in the organization\u2019s 72-year history: a $5 million gift founding the ULI Terwilliger Center for Housing. Two years later, he made a $100 million legacy donation to Habitat for Humanity, the largest ever received by the affordable-housing nonprofit. In addition to helping 60,000 low-income families access affordable housing, the gift established the J. Ronald Terwilliger Leveraged Impact Fund.<\/p>\n With the financial markets on the brink of collapse in 2008, Terwilliger stayed on as TCR\u2019s chairman through July 2009, steering his colleagues and peers through an historically precarious time. His guidance helped TCR emerge from the downturn stronger than ever. A 2012 merger with California-based GLJ Partners expanded TCR\u2019s footprint in Southern California.<\/p>\n The following year, TCR and Atlanta-based Pappas Properties LLC formed Terwilliger Pappas Multifamily Partners to develop multifamily projects in the Southeast. In spring 2015, TCR and its partner, Northbrook, Ill.-based Prime Property Investors, completed Alexan Auburn Lakes, a 346-unit luxury development in Houston.<\/p>\n In addition to housing, education is a cause that remains dear to Terwilliger. He is chairman emeritus of the Wharton Real Estate Center and a board member of the U.S. Naval Academy Foundation. In 2014, he was bestowed the Horatio Alger Award, which acknowledges individuals who have overcome adversity to foster higher education opportunities for young people.<\/p>\n Jonathan Gray<\/p><\/div>\n Investor of the Year<\/strong><\/p>\n Jonathan Gray<\/strong>, Global Head of Real Estate, Blackstone<\/p>\n Headquarters<\/strong>: New York City<\/p>\n Years as Global Head of Real Estate<\/strong>: 2011<\/p>\n Years with Blackstone<\/strong>: 14<\/p>\n From the Ground Up<\/strong>: Gray joined Blackstone fresh out of the Wharton School in 1992, later spinning off the company\u2019s global real estate division, which employs 420 people in 12 offices and manages assets and debt valued at $200 billion.<\/p>\n All-Cash Acquisition<\/strong>: 2016 was a banner year for Blackstone affiliate Blackstone Real Estate Partners VIII LP, which in January bought BioMed Realty Trust for $8 billion in cash in one of the largest REIT privatizations in recent years.<\/p>\n Billion-Dollar Bet<\/strong>: Sealing another billion-dollar deal, Blackstone purchased a portfolio of 49 retail properties across the Northeast and Texas from RioCan Real Estate Investment Trust for $1.9 billion.<\/p>\n Deals of this scope are nothing new to Gray. In 2007, he arranged the $26 billion acquisition of Hilton, generating $13 billion for Blackstone and its investors.<\/p>\n Jeff Blau<\/p><\/div>\n Developer of the Year<\/strong><\/p>\n Jeff Blau<\/strong>, CEO, The Related Cos.<\/p>\n Headquarters<\/strong>: New York City<\/p>\n Years with Related<\/strong>: 28<\/p>\n Years as CEO<\/strong>: Four<\/p>\n Previous Roles at Related<\/strong>: Analyst, associate, vice president and president<\/p>\n Related at a Glance<\/strong>: The company employs more than 3,000 professionals worldwide and manages more than $30 billion in assets and $3 billion in equity capital.<\/p>\n West Side Story<\/strong>: Earlier this year, Related closed on $8 billion in financing for the 28-acre Hudson Yards redevelopment on Manhattan\u2019s West Side. Ten Hudson Yards, a 1.8 million-square-foot office tower, made its debut in late May and was the massive mixed-use project\u2019s first building to be completed. Its high-profile tenants include Coach, L\u2019Or\u00e9al and SAP, with another 7,000 workers expected at the office building.<\/p>\n In July, together with Oxford Properties Group, Related spearheaded the $2 billion full capitalization of 35 Hudson Yards, a 1.1 million-square-foot tower slated for a hotel and apartments.<\/p>\n Branching Out<\/strong>: Blau unveiled plans for a large-scale public artwork created by the renowned British designer Thomas Heatherwick. The sculpture, surrounded by a winding maze of open space and parkland, will serve as a cultural centerpiece at Hudson Yards.<\/p>\n <\/p>\n Matt Khourie<\/p><\/div>\n Developer of the Year<\/strong><\/p>\n Matt Khourie<\/strong>, CEO, Trammell Crow Co.<\/p>\n Headquarters<\/strong>: Dallas<\/p>\n Previous Job<\/strong>: CEO, CBRE Global Investors (2010-16)<\/p>\n Homecoming<\/strong>: A 29-year Trammell Crow veteran (1980-2009), Khourie rejoined the company as CEO in 2016.<\/p>\n Previous Roles at TCC<\/strong>: Included president of Southeast operations and president of Central operations.<\/p>\n TCC by the Numbers<\/strong>: The company employs 215 professionals in 16 offices. Developments in progress total $7.1 billion, with another $3.7 billion in the pipeline, making TCC the nation\u2019s largest commercial real estate development and investment services firm by revenue.<\/p>\n In the Pipeline<\/strong>: In partnership with MetLife, TCC is working on two of the largest mixed-use projects in Texas. Development is underway at Park District, a nearly 1 million-square-foot complex comprising a 20-story Class A office tower anchored by PricewaterhouseCoopers and a 32-story luxury residential tower being Competitive Edge<\/strong>: \u201cTCC\u2019s senior developers build projects that contribute to a more livable environment\u2014whether that be a mixed-use project solving an urban need or a fulfillment center creating an e-commerce solution. We have been in business well over 60 years, and thus have learned how to proactively manage both our firm and its projects through cycles, so we can be on the offensive in both up and down markets.\u201d<\/p>\n Urban Renaissance<\/strong>: Downtown Austin\u2019s former Green Water Treatment Plant is currently under redevelopment by TCC. When complete, the master-planned project will feature more than 1.7 million square feet of commercial space, including a 500,000-square-foot Class A office\/retail tower.<\/p>\n Elsewhere in Austin, a team of High Street, TCC, The Hanover Co. and Pacific Life Insurance Co. are nearing completion on Northshore, a mixed-use tower with 439 apartments and 50,000-plus square feet of office and retail space. The final phase of development will add a 32-story Austin Proper Hotel and Residences, along with a tower combining office and residential spaces.<\/p>\n Willy Walker<\/p><\/div>\n Financier of the Year<\/strong><\/p>\n Willy Walker<\/strong>, Chairman & CEO, Walker & Dunlop<\/p>\n Headquarters<\/strong>: Bethesda, Md.<\/p>\n Years with Walker & Dunlop<\/strong>: 13<\/p>\n Years as CEO<\/strong>: Nine<\/p>\n Previous Roles at Walker & Dunlop<\/strong>: Executive vice president & COO<\/p>\n Walker & Dunlop by the Numbers<\/strong>: 500 professionals in 24 offices nationwide contribute to combined revenue of $468.2 million and total transaction volume of $17.8 billion.<\/p>\n Record-setting revenue<\/strong>: The company experienced its most successful third quarter ever, with year-over-year growth of 28 percent revenue and 26 percent earnings per share.<\/p>\n Teamwork at work<\/strong>: A close partnership with Fannie Mae has enabled the company to pull off complex transactions involving flexible financing schemes. The largest to date this year was the arranging of $672 million in acquisition financing for University Housing Communities, one of the nation\u2019s largest Class A student housing portfolios, on behalf of a joint venture between Scion and a Canadian pension fund. Due to the size of the portfolio, Walker & Dunlop turned to Fannie Mae\u2019s credit facility structuring option to formulate an efficient loan structure.<\/p>\n On Deck<\/strong>: The company\u2019s recent acquisition of George Elkins Mortgage Banking Co., expected to close this year, will add nearly $1.7 billion in life insurance company servicing to Walker & Dunlop\u2019s existing $57.3 billion servicing portfolio.<\/p>\n To-Do List<\/strong>: Along with continued elevated HUD volumes and a proposed 25 percent increase in new hires, Walker & Dunlop will aim to grow earnings per share by double digits in 2017. Freddie Mac predictions point to a 6 percent increase in loan originations, to $300 billion, in 2017, a trend that can only bolster the multifamily market.<\/p>\n <\/p>\n Ric Clark<\/p><\/div>\n Office Property Executive of the Year<\/strong><\/p>\n Ric Clark<\/strong>, Chairman, Brookfield Property Group<\/p>\n Headquarters<\/strong>: New York City<\/p>\n Years with Brookfield<\/strong>: 22<\/p>\n Previous Roles<\/strong>: President & CEO of Brookfield Office Properties<\/p>\n Brookfield by the Numbers<\/strong>: The company\u2019s 100 million-square-foot portfolio of prime Class A office space comprises 149 properties in 18 cities.<\/p>\n Trophy Assets<\/strong>: Ninety-two percent leased, the company\u2019s office portfolio includes such iconic properties as Canary Wharf in London and Brookfield Place in Toronto, Perth and Manhattan (formerly the World Financial Center).<\/p>\n Big Berlin Buy<\/strong>: In January, Brookfield acquired Potsdamer Platz, a major mixed-used estate comprising 17 buildings, 10 streets and two squares and covering a gross area of more than 2.9 million square feet in the city center.<\/p>\n Skyrocketing Sales<\/strong>: In 2016, the company sold eight office properties for aggregate proceeds of $1.8 billion.<\/p>\n In the Pipeline<\/strong>: More than 7.3 million square feet of office, hotel, retail and luxury apartment product<\/p>\n 2017 Goals<\/strong>: Opening world-class headquarters in London, Calgary and Rio de Janeiro, and making significant progress developing mixed-use sites in New York, London, Washington, D.C., Dubai and elsewhere. At Manhattan West in New York, Brookfield will complete the $350 million redevelopment and relaunch of Five Manhattan West, slated to open next year as collaborative urban office space with an 844-unit residential component.<\/p>\n On the Horizon<\/strong>: \u201cThe ongoing rise of cities around the world, coupled with innovations in how people collaborate and companies think about and use space, makes this a very exciting time for investors and developers of urban office properties. Brookfield had a very active last 12 months, and we are eager to realize the potential of recent acquisitions and new opportunities in 2017.\u201d<\/p>\n <\/p>\n Jodie McLean<\/p><\/div>\n Retail Property Executive of the Year<\/strong><\/p>\n Jodie McLean<\/strong>, CEO, EDENS<\/p>\n Headquarters<\/strong>: Columbia, S.C.<\/p>\n Years with EDENS<\/strong>: 25<\/p>\n Previous Roles at EDENS<\/strong>: Chief investment officer and president. In more than two decades with EDENS, McLean has been responsible for the development, redevelopment, acquisition and disposition of more than $10 billion worth of assets.<\/p>\n EDENS by the Numbers<\/strong>: 265 employees in six regional headquarters and three satellite offices<\/p>\n Texas Hold \u2019Em<\/strong>: In early 2015, EDENS completed the $765 million, all-cash acquisition of Houston-based AmREIT. The transaction privatized the formerly public REIT and is helping EDENS raise its profile in Texas and the South.<\/p>\n South Bay Buy<\/strong>: In August, EDENS broke ground on South Bay, a $200 million, 700,000-square-foot mixed-use development. Located at South Bay, EDENS\u2019 427,289-square-foot power center in the Dorchester section of Boston, the project will consist of 60,000 square feet of local and national retail operators, a 12-screen AMC Theatre with IMAX, a 150-key hotel and 475 housing units.<\/p>\n Garden State Standout<\/strong>: EDENS led the redevelopment of Closter Plaza, a new Whole Foods-anchored shopping center in Closter, N.J. The 208,337-square-foot retail destination is the only full-service shopping center within a five-mile radius. It is also home to the state\u2019s first \u201cflexible-format\u201d Target store, which opened in November.<\/p>\n McLean on 2017<\/strong>: \u201cIn the year ahead, EDENS will continue our dedication to enriching the neighborhoods we serve. When we see residents of the areas around our centers embrace them, turn them into a key part of their lives and make them a meaningful destination for the community, we know we are succeeding in our mission.\u201d<\/p>\n <\/p>\n Len O\u2019Donnell<\/p><\/div>\n Industrial Property Executive of the Year<\/strong><\/p>\n Len O\u2019Donnell<\/strong>, President & CEO, USAA Real Estate Co.<\/p>\n Headquarters<\/strong>: San Antonio<\/p>\n Years as CEO<\/strong>: Five<\/p>\n Previous Company<\/strong>: Crimson Real Estate Fund<\/p>\n USAA Real Estate Co. by the Numbers<\/strong>: $15 billion in assets under management<\/p>\n Energy Excellence<\/strong>: USAA Real Estate received the ENERGY STAR Sustained Excellence award for the 14th consecutive year, a nod to the company\u2019s continued pursuit of energy efficiency across its portfolio.<\/p>\n Central Texas Corridor<\/strong>: In August, USAA Real Estate broke ground on the I-35 Logistics Center, a 397,000-square-foot Class A distribution center on Interstate 35 in the San Antonio suburb of New Braunfels. Scheduled for completion in March 2017, the facility is 20 minutes from San Antonio International Airport, 50 miles from Austin and 177 miles from Houston.<\/p>\n E-Commerce Expansion<\/strong>: Collaborating with Chesapeake Real Estate Group, USAA Real Estate signed a lease in October with e-commerce firm XPO Logistics at Perryman Logistics Center in Aberdeen, Md. The lease covers the entire 571,000-square-foot Class A industrial building, which was completed in late 2015. The center occupies a 48-acre site located 32 miles from the Port of Baltimore and 42 miles from Baltimore-Washington International Airport. According to the Baltimore Sun, XPO plans initially to employ 400 people at the facility.<\/p>\n <\/p>\n Christopher Nassetta<\/p><\/div>\n Hospitality Executive of the Year<\/strong><\/p>\n Christopher Nassetta<\/strong>, President & CEO, Hilton Worldwide<\/p>\n Headquarters<\/strong>: McLean, Va.<\/p>\n Years as CEO<\/strong>: 2007<\/p>\n Previous Job<\/strong>: President & CEO, Host Hotels & Resorts Inc.<\/p>\n Hilton Worldwide by the Numbers<\/strong>: More than 4,700 properties comprising 775,000 guest rooms in 104 countries and territories. This year, an additional 77,000 keys were approved for development worldwide.<\/p>\n In the Pipeline<\/strong>: 1,898 hotels consisting of 300,000 keys<\/p>\n Spinoff Sale<\/strong>: Blackstone expects to close the sale of a 25 percent interest in Hilton and two planned spinoff companies to Chinese conglomerate HNA Group in 2017.<\/p>\n 2017 Goals<\/strong>: The company plans to open its first Tru by Hilton properties. It estimates the brand willl add 18 million travelers to Hilton\u2019s 140 million annual guests. Two established brands, Hilton Garden Inn and Hampton by Hilton, have stimulated expansion into markets in Latin America, China and Europe, a trend the company aims to continue next year.<\/p>\n Nassetta on What Guests Want<\/strong>: \u201cThe world is changing at a rapid pace, and it is an incredibly exciting time in our industry. We are seeing more travelers than ever before\u2014and these guests want hospitality experiences that are personalized, are simple, and most important, give them choice and control over their journey.\u201d<\/p>\n <\/p>\n Timothy Naughton<\/p><\/div>\n Multifamily Executive of the Year<\/strong><\/p>\n Timothy Naughton<\/strong>, Chairman, CEO & President, AvalonBay Communities Inc.<\/p>\n Headquarters<\/strong>: Arlington, Va.<\/p>\n Years as CEO<\/strong>: 2012<\/p>\n Previous Roles at AvalonBay<\/strong>: COO, chief investment officer, senior vice president and regional vice president of the Mid-Atlantic and Midwest regions.<\/p>\n Growth Spurts<\/strong>: Naughton joined an AvalonBay predecessor in 1989, during a period of recession. The 1990s brought growth and expansion, highlighted by the merger of two exchange-traded apartment REITs. In 2007, AvalonBay\u2019s growth landed it a spot on the S&P 500.<\/p>\n An Active Year<\/strong>: Between January and October, AvalonBay purchased five new communities, representing more than 1,200 apartment homes, for around $530 million. The company sold nine communities, representing more than 3,300 units, for nearly $1 billion.<\/p>\n Triple Play<\/strong>: By the end of November, the company\u2019s largest consolidated disposition of the year was the $275 million sale of 1,051 apartment homes across three wholly owned communities in New Jersey, New York and Massachusetts.<\/p>\n REIT Resilience<\/strong>: Having weathered numerous real estate cycles, AvalonBay is riding the wave of increased apartment demand. Through the third quarter, the company completed developments valued at $510 million and raised $1.8 billion in capital.<\/p>\n <\/p>\n Barry Gosin<\/p><\/div>\n Service Executive of the Year<\/strong><\/p>\n Barry Gosin<\/strong>, CEO, Newmark Grubb Knight Frank<\/p>\n
\n![\"J.](\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/12\/J-Ronald-Terwilliger.jpg\")
\n![\"Jonathan](\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2014\/11\/Gray-Jon.jpg\")
\n![\"Jeff](\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/12\/Jeff-Blau.jpeg\")
\n![\"Matt](\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/12\/Matt-Khourie.jpg\")
\nbuilt by High Street Residential, a TCC affiliate. Lush green spaces and high-end restaurants and retail will round out the mixed-use development.<\/p>\n
\n![\"Willy](\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/12\/Willy-Walker.jpg\")
\n![\"Ric](\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/12\/Ric-Clark.jpg\")
\n![\"Jodie](\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/12\/Jodie-McLean.jpg\")
\n![\"Len](\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/12\/Len-ODonnell.jpg\")
\n![\"Christopher](\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/12\/Christopher-Nassetta.jpg\")
\n![\"Timothy](\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/12\/Timothy-Naughton.jpg\")
\n![\"Barry](\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/12\/Barry-Gosin.jpg\")