10/3/2007

Five Questions with CB Richard Ellis' Jay O'Meara

by

Mr. O'Meara

Jay O'Meara is a Senior Vice President in the Investment Properties Institutional Group at CB Richard Ellis' Atlanta Office. Prior to joining CBRE, he was a senior analyst with Cushman & Wakefield's Structured Finance and Investment Sales' groups. In his ten-year real estate career, O'Meara has closed more than 32 million square feet of office properties valued at almost $3 billion.

CREF: How did you get into the real estate business?
JO: Opportunities presented themselves through word of mouth; getting to know people, clients, brokers. I finished up my graduate work in real estate financing at the University of Georgia and wanted to get involved in a deal-making capacity. I took a position as a senior financial analyst at Cushman & Wakefield and was involved more in the production side of the deals - putting together packages, handling the financial aspects - all the behind-the-scenes work. I gained some experience there and then heard about an opening at CB Richard Ellis and have been here for about four and a half years.

CREF: Which deals have been your most memorable?
JO: We just completed the sale of the Bank of America plaza in Atlanta, which was the largest deal in the history of the city. Also the Pinnacle office building in Buckhead - which was the largest deal in the city's history at the time - the Equity office portfolio in Atlanta and the Charlotte Plaza in Charlotte. All in all we've closed about 70 deals in four and a half years.

CREF: How has the industry changed since you've been involved?
JO: Technology has had the biggest impact on the business. Everything is instantaneous. People make decisions very quickly and we can distribute a message very quickly. Luckily, our team is young and we've been able to adapt our ideas and strategies to the changes.

CREF: How does the market look over the next 12 months?
JO: The market still looks good. We might not be as busy as we have been in the past couple years as far as numbers go, but we will still have plenty of buyers and sellers. A good indicator is the stock market. It's done well in the past 60 days despite all that's happened with the banks tightening down on their loans.

CREF: What literature do you read to stay up-to-date?
JO: As far as non-industry publications, I read the Wall St. Journal and the Atlanta Journal Constitution. Then I read various real estate reports; the Institutional Real Estate Inc. newsletter, the Atlanta Business Chronicle, and other reports/analysis that come across my desk.

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