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Top Women in Real Estate

child made the schedule tough, so was that she could understand the components, but they also have the
when San Diego National Bank process from a buyer perspective, consulting side. “So, if a high level
reached out to her to come on investor perspective, and a lend- of expertise is needed, I can step
board, she decided that banker’s ing perspective. Several projects in and become part of the team
hours would be more conducive located in Oregon and Washington and solve complex transactional
to better sleep and more time at state involved raw land, partially problems."
home. A large part of that was developed housing developments, Karen equally loves the consult-
being able to hire the law firms to and a “land” condominium related ing and the training components
work the long hours. "It was a very to a federally designated affordable of her business. “I love watching
appealing offer, especially since housing tax credit project. people in my training sessions gain
they were looking for someone Since Karen was often involved an understanding of how to solve
with the same level of legal expe- in transactions in multiple states, I an issue that previously seemed
rience that I had. I transitioned wondered how she kept up to speed insurmountable to them. I just love
over to SDNB and, best of all, did with the many different laws from seeing people exercise their new-
the same type of work and was still state to state that are involved in a found knowledge and continuing
able to work with extremely bright commercial real estate transaction. to develop. It’s an amazing process.”
attorneys.” “First off, I love to read. Secondly, I asked Karen what it was that
In this new position, Karen it's staying in the business, doing she loved most about her work. “It's
managed the commercial real estate the business. I have to say, the one probably just being able to apply
closings, negotiating the closings thing that I love about commercial everything that I know and being
after the loan officers got approval real estate is there's not one trans- able to share it, and help to bring
for the loan. “It was a very collabo- action that is exactly like the next people into this very interesting, di-
rative, teamwork experience. And one. Also, with each transaction, verse, and demanding profession.”
we had a tremendous amount of I walked away with a little more If you were going to give advice
fun. The bank made loans all over knowledge. So, it's a continual to someone who wanted to get
the United States, but we also did a growth and learning experience.” into your field, what would you tell
lot of really exciting projects in San After many years working for them? “I'd suggest that they find
Diego, including the Bayfront Hil- all different entities in the Com- a good mentor, someone that has
ton downtown, which meant that mercial Real Estate world, Karen both resources and a network. Also,
we worked with the San Diego Port decided it was time to open her they need to keep in mind that you
Authority, Hensel Phelps Construc- own business, and CRE Execu- need to be a good mentee – think
tion and the Hilton Hotel corporate tion Strategies, Inc., was born. about your direction, ask ques-
organization. It's fun to be able to “I've created my own training and tions, be curious and intellectually
drive around San Diego and know consulting company. I have taken inquisitive. Be willing to work hard.
that you've actually participated in that 25 plus years of knowledge and There are tremendous opportuni-
creating something in the city.” compacted that into nine training ties in this field.”
Unfortunately, 2008 hit and modules so that I can go to lend- “The other thing I would
San Diego National Bank, a part ers, special asset groups in banks, suggest, especially in San Diego,
of the larger FBOP Corporation developers, and brokers and train is to be very cognizant of always
out of Chicago, was affected, and their new and junior level staff on doing your absolute best. It's a
they ended up being bought by US the ins and outs of commercial real small city and people remember
Bank. Karen was asked to stay and estate transactions. I really love you. It's essential to show up, be on
manage a portfolio of special asset doing this. I utilize highly interac- time, be prepared, treat people well
loans and commercial real estate. tive learning techniques as part of and work hard. People will know
She also trained asset managers on my training. It’s important to create you by the impression you leave. I
pre-foreclosure analysis and fore- engagement and develop a strong have had people ask me how I got
closures on commercial properties. knowledge base so they will leave to where I am, and I almost burst
With the number of foreclosures my classes with strong skills that out laughing because the answer is
and the diversity of complex prop- they can actually apply to their day simple, work your butt off! Always
erties, this involved complicated to day work.” remember that good education
negotiation, paperwork, and due Not only does CRE Execution and hard work will never do you
diligence. The advantage Karen had Strategies, Inc., have the training wrong.”

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