By Erika Morphy | April 03, 2023 at 03:51 PM | https://www.globest.com/2023/04/03/best-bosses/
The last year has not been easy for the head of a commercial real estate company. Inflation and the Fed’s response, as well as trends that emerged from the pandemic, have clearly had an impact on the industry across all of the sectors. Besides the effect of, say, ongoing remote work on the beleaguered office asset class or the slowing pace of rent increases in multifamily, these executives have also had to navigate an increasingly difficult capital markets environment. I have some bad news for this group: the near-term future doesn’t look any easier. Enter our selection of Best Bosses this year. This year’s picks were made at least in part based on their resiliency and ability to position their companies for future growth, whenever that might occur. We are confident these strengths will see them through what could be choppy waters ahead.
GIDI COHEN
When one of his employees broke his collarbone while mountain biking, CGI+ Real Estate Investments’ founder and CEO Gidi Cohen made sure that he got treatment from one of the best doctors in Los Angeles, not because he wanted to ensure a quick return to work, but because he wanted him to be able to continue living a full and active life. This example illustrates the culture that Cohen has built at CGI+ Real Estate Investments of family and well-being. Cohen is also interested in helping his employees thrive in their work. One employee describes Cohen as the opposite of a micro-manager; allowing all employees the opportunity to navigate projects the way that they see fit, while al-ways being there to provide guidance and understanding. When Cohen founded the company, his goal was to capitalize on opportunities missed by others. Leveraging Cohen’s construction track record, his eye for unrecognized potential and a unique sense of aesthetics, CGI+ has grown into a multifamily investment and development firm with more than $1.6 billion in assets under management. During his 27 years in the industry, Cohen has proved to be an outside-the-box thinker who is willing to invest in assets that other investors might avoid by taking calculated risks on untapped potential in distressed assets to grow his company’s business and providing successful returns for investors. Notably, Cohen and CGI+ were among the first developers to focus on the “toothbrush-ready” living trend that is popular among millennials. One colleague describes Cohen as an inspirational leader, a willing teacher and a mentor, who has an open mind about making changes to keep the firm at the top of the field, and who explains his thought process and asks for feedback from everyone involved.
