Institutional Buyers Seek Strategic Options
IRVINE, CA—The lack of commercial properties available for sale is leading to a lot of dry powder unable to be deployed by institutional investors, the Koll Co.’s new principal Scott Lanni tells GlobeSt.com. As we reported recently, Lanni, formerly with the Irvine Co. and Lyon Communities, will work with managing principal Gerald Yahr and principal Scott Meserve to continue to grow and enhance the company’s portfolio of office and industrial real estate in the western US. We spoke exclusively with Lanni about his new role and how his prior experience will help inform his new position.
GlobeSt.com: What do you hope to accomplish in your new role with the Koll Co.?
Lanni: I plan to help Koll significantly grow its 2.3 million square foot commercial real estate portfolio through expanding its capital markets platform. Koll Co. allows for an entrepreneurial approach to real estate investment. We acquire assets that need to be repositioned or completely redeveloped, and we also look for land for development. We are also looking to fuel Koll’s growth through strategic joint-venture partnerships.
GlobeSt.com: How will your experience with the Irvine Co. and Lyon Communities inform your new position?
Lanni: My past experience leading the investment management teams at the Irvine Co. and Lyon Communities allowed me to manage the comprehensive investment and capitalization process across all property types, including office, apartments, industrial, retail and ground-up development projects. I also had the honor of developing outstanding working relationships with bankers, brokers and other stakeholder partners that I hope to collaborate with in my new role at Koll.
GlobeSt.com: What are the biggest trends you’re noticing in the joint-venture arena?
Lanni: There are not enough strategic investment opportunities available for institutional investors. A lot of institutional capital is unable to be deployed due to the lack of commercial properties available for sale. The Koll Co.’s significant relationships and reputation with brokerage, property management, finance and investment companies translates into a competitive advantage in sourcing off-market and narrowly marketed acquisition opportunities.
GlobeSt.com: What else should our readers know about the Koll Co.?
Lanni: Koll is a fully integrated real estate company that has been very actively recently, acquiring more than 750,000 square feet of commercial property in the western US during the past two years. Our goal is to triple that figure in the next two years. Our target markets include California, Phoenix, Las Vegas, and Denver. The Koll Co. has developed more than 110 million square feet of office, industrial and retail space during the past 50 years.