Randal joined Moran & Company in 2009 as Managing Partner and is responsible for marketing assignments and client relationships in Moran & Company’s Eastern Region. Randal’s extensive real estate and capital markets experience encompasses more than $12 billion in multifamily, mixed-use, retail, office, and hospitality transactions nationwide, representing all forms of capitalization, including outright sales, equity joint ventures, debt placement, entity formation, acquisition, and advisory services.
How do you explain what you do to people outside the industry?
As practiced at the institutional level, the real estate transaction business is a highly rewarding profession, allowing the opportunity to work on recognizable and valuable assets, while providing extensive interaction with wonderful people from many backgrounds and multiple geographies. This industry requires a degree of sophistication and professionalism that is personally rewarding and constantly stimulating. That said, ours is a service business in which one must at all times place the clients’ needs at the forefront and do everything possible to produce maximum value on his/her behalf.
What impresses you most about Moran’s culture?
Although I have spent my entire career in the brokerage business, loosely defined, and am a licensed broker in seven states, I have never actually considered myself a “broker” in the common usage of the word. Moran’s culture, like that of the firm with which I was previously associated, provides a trusted advisor fiduciary service that places the client’s interest above all else. This is very different than “brokering” the sale of a piece of property in order to earn a fee. Moran’s culture, both internally and externally, values and promotes honesty, openness, cooperation and professionalism in a way that is both unique and extraordinary. It is in essence a family business, as it relates to relationships amongst its own partners and professionals as well as its many highly valued clients.
What is an example of a deal execution that exemplifies what Moran & Company is doing differently/better than anyone else?
Many of Moran’s professionals are able to not only sell existing assets at record prices, but also represent developers of properties requiring capitalization in order to be developed. The sales business is critical, and is the “cake” of our business, but the development business is the “icing.” Being able to assist in the creation and telling of a story that will result in raising the capital to construct something that presently exists only on paper and in our developer client’s imagination is a form of art at Moran. The company’s collection of former developers, investors and financiers allows us a rare ability to execute these more complex assignments in a way that nearly all of our industry competitors lack the requisite skills to accomplish.