WASHINGTON, D.C. - Women in the commercial real estate industry tend to be more highly educated, independent and make more money than working women overall, according to a first-of-its-kind study sponsored by New York-based Julien J. Studley Inc. The study was conducted by Washington, D.C.-based Lake Snell Perry & Associates Inc. and was released at the 1999convention of the National Network of Commercial Real Estate Women (NNCREW), which includes some 41 member organizations and 4,500 members.
More than 600 NNCREW members were interviewed by telephone, representing every professional discipline related to the industry. Some results include: One-third of NNCREW members are full- or part-owners of their firms and are clustered in the 35- to 49-year-old age bracket; they average eight to 15 years experience; one in five plan to start their own firm; and three-quarters have incomes above $100,000.
The study also revealed some of the leading challenges reported by NNCREW members, which include gender discrimination and equal pay for equal work.
Julien Studley, chairman and founder of Julien J. Studley, says he commissioned the study to differentiate perception from reality. "The commercial real estate industry is one of contradiction," he says. "For example, many of the professionals are independent contractors so, in theory, there is no glass ceiling. On the other hand, this industry has traditionally been male dominated. We are looking to the survey as a tool for understanding and as a basis for ongoing dialogue."
We inadvertently ommitted Banc One Capital Funding from the August 1999 Directory of Affordable Housing Lenders. Here is the company's information:
Banc One Capital Funding Corp.
150 E. Gay Street, 22nd floor Mail Code OHI-1222 Columbus, Ohio 43215 (614) 217-1100 or (800) 837-5100
Fax: (614) 217-0104
Officers: William E. Roberts, Chairman; David L. Goodman, President
Total dollars committed to Affordable Housing projects in calendar 1998: $2.1 billion
In our October 1, 1999 feature story "Investors Win Thanks to Strange Relations" NREI incorrectly reported that New York-based Donaldson Lufkin & Jenrette had gone it alone with its last five CMBS transactions. DLJ securitized its conduit loans on a stand-alone basis from 1993 to 1997. However, DLJ has had partners in five out of the last seven fixed-rate conduit securitizations over the past two years. DLJ partnered with GE Capital in four transactions, one of which also included collateral from Archon Group. DLJ is currently partnered with Midland Loan Services in its final 1999.