By Tony Wilbert
ATLANTA (Dec. 16, 2008) - Tom Senkbeil has been through several cycles in his 33-year career in commercial real estate. But this current downturn perplexes him.
Senkbeil will leave Post Properties, an Atlanta-based multifamily REIT, where he serves as executive vice president and CIO, at year end. Depending on what he does next, his departire could cap a stellar career in commercial real estate that included stints as a top executive at several industrial, office and apartment development firms and overall chairman of the National Association of Industrial and Office Properties (1996).
"With his considerable background and experience in real estate, Tom Senkbeil has made substaintial contributions to Post and attracted talented individuals to the company," Post CEO Dave Stockert said when the REIT announced Senkbeil's pending departure earlier this month.
Senkbeil played a key role in Post Properties' portion of the mixed-use project 3630 Peachtree in Buckhead that will be home to the first Ritz-Carlton Residences in the city. The project reunited Senkbeil with his buddies at Duke Realty Corp., where he worked when Duke entered the Atlanta market via its acquisition of Weeks Properties. At Weeks, Senkbeil worked with his current CEO.
For now, Senkbeil is trying to figure out when this morass will end and real estate will rebound. "Who knows?" he said this morning.