Real Estate Journal — 40 Under 40 — September 13 - 26, 2019 — 17D
www.marej.com
M id A tlantic
40 U nder 40
hat is your most notable project, deal or transaction? Representing WCSmith and Alden Torch in the sale of Worthing- ton Woods, a 394-unit property in Washington, D.C. Besides being able to represent two clients I have admired and respected from the start of my career, it is one of the 10 largest single asset sales in the District over the last five years. How do you contribute to your company and / or the industry? Since the Greysteel’s launch, I have had an active role in the company’s Executive and Steering Committees, holding both the Chairman and Secre- W. Kyle Tangney Managing Director Greysteel Years with company/firm: 7+ (From Launch) Years in field: 10 Years in real estate industry: 10 Real estate organizations/affiliations: National Multifamily Housing Council (NMHC) W
Herbert Schwat Director Greysteel Years with company/firm: 4 Years in field: 4 Years in real estate industry: 4
What is your greatest professional accomplishment? In the first three months of 2019, my team sold five investments in Wards 7 & 8, collectively ac- counting for $44.8M. Sayles Place (57 units) was sold at auction; Forest Cove (49 units) and Oak Park (108 units) were traditional investment sales; and El- sinore Courtyard (152 units) and Fitch Apartments (75 units) were receivership sales. It was my first auction and first receivership sale(s), and was ultimately extremely satisfying to have navigated the various complexities of the auction, investment sales, and receivership sales to achieve great results for our clients. Who or what has been the strongest influence in your career? Ari Firoozabadi and W. Kyle Tangney, my mentors and partners in Greysteel’s D.C. Multifamily practice. The remarkable amount of success these two have achieved at their respective young ages motivates my hard work and commitment to our team. They’ve shown me that age doesn’t matter in our industry; all that mat- ters are effort and being the most informed person in the room, in any room.
tary positions over my tenure. I have been able to develop the company’s infrastructure, assist in forming new practice groups, launching new offices along with overseeing em- ployee and agent mentorship. It is important for me that we strive to better our people and ourselves every day. Tell us how and when you began your career in the profession you are in, about your current posi- tion and why you choose the field/profession you are in today? I began my real estate invest- ment sales career in the depths of the great recession when a former mentor of mine intro- duced me to Ari Firoozabadi, now CEO of Greysteel. I was taken by our ability to appropri- ately guide our clients in ways to add value to their properties, provide time sensitive analysis and deliver market insight. As the Managing Director for the D.C. Investment Sales Group, I look for our team to deliver the highest level of service and insight to our clients. What inspiring word of advice would you give to a young executive graduat- ing from college today? I work with our Company’s emerging leaders nationally along with our local internship classes and what I convey to them is to hold yourself ac- countable for your own success and be proactive vs. reactive. If you wait for something to happen for you it never will. You need to make it happen.
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