At Berkadia, our success is built upon the talent and hard work of a broad, diversely skilled team. From analysts to loan closing specialists to managing directors each of our people brings a unique background, perspective and expertise. Their work allows Berkadia to remain a leader in the commercial real estate industry.
Today, we sit down with Senior Managing Director Adrienne Barr who was Berkadia’s top performing investment sales producer in 2022, to learn more about Adrienne’s achievements in 2022, her keys to success and advice she has to women in the industry.
What contributed to such a strong year in 2022? What would you say are your keys to success?
Where other agents might have taken the easy route, we took the harder route for our clients, and it paid off! In 2022, we brought a portfolio of eight multifamily properties totaling 722 units in the County of Los Angeles to the market. Despite recommendations to sell the properties as a portfolio for ease of the transaction, we suggested marketing the properties both individually, as a portfolio, or in any combination thereof. We orchestrated a structured bidding process, running parallel paths between the portfolio and individual property buyers. Our intricate bidding process revealed that the individual buyers would be able to move faster and provide greater certainty at higher prices than the portfolio buyers. Although the easiest path was clearly to sell all the properties to one buyer, we recommended that the ownership proceed with individual buyers and that each of the escrows be opened with haste. In the coming months, we worked tirelessly to manage each individual diligence period, keeping back-up buyers on hand in case a buyer faltered. Interest rates were rising cap rates were falling, and both institutional and portfolio transactions across the nation were being renegotiated and/or canceled. However, despite the headwinds of a challenging market, we successfully closed our escrows at an average cap rate of 3.2% without one penny of price adjustment.
Can you speak on your journey of being a woman in the CRE-industry? What advise do you have to women starting their career?
I think my background as an attorney enables me to navigate our clients to uniquely successful outcomes. I enjoy serving as a mentor, advocating for women in the business and have worked with predominantly female teams since the inception of my career 22 years ago. I enjoy working with women and we have found great success doing so.
My advice for women just getting started: find a good mentor and work with people who you respect and enjoy. As Confucius once said, “Choose a job you love, and you will never have to work a day in your life.”
Aside from being Berkadia’s 1st female leading producer, what are some other achievements you’re most proud of?
I am proud of being a mom and a wife. Although it may be the hardest, it is definitely the most rewarding job of all. I have been blessed with two wonderful boys—who are now 12 and 15 years old—and an amazing husband. They bring me joy every day.
When you aren’t busy setting records at Berkadia, how do you spend your time? How do you manage it all?
I love to run, hike, travel and spend time with my family and friends, and our golden retriever, Cooper. I also have a strange obsession with real estate shopping. In addition, I enjoy serving on the Board of Managers for the Collins and Katz Family Y, which has afforded me with the opportunity to volunteer with inspiring individuals who make our world a better place every day. Find Your Next Investment.