MARCH ISSUE: New Horizons

Larry Heard Leads Transwestern’s Growth at Home & Abroad

By Paul Rosta, Senior Editor

In 2009, Transwestern took on one of the most challenging assignments in its three-decade history. After RREEF Real Estate decided to phase out its in-house property management division, it divided its assets into geographic regions and split the duties between the Houston-based service provider and competitor CBRE Group Inc.

Over the course of just a few months, Transwestern assumed management of a 47 million-square-foot portfolio located primarily in the Mid-Atlantic, Southeast, Southwest and Southern California. The sheer volume of the assignment, along with the compressed schedule and Transwestern’s absorption of many RREEF property managers, posed a daunting task. “It was overwhelming for both sides,” recalled Jim Carbone, CEO & managing director of RREEF Property Trust.

But Transwestern had a few aces in the hole, chief among them Larry Heard, a company veteran and president & CEO since 2002. Heard brought responsiveness, collegiality and a hands-on style that led the team through the inevitable rough patches of the transition. “Larry’s approach was, ‘If there are issues, we’ll identify them immediately and deal with them,’” Carbone recalled.

Read the full article in the March  2014 issue of CPE. Access is free!