Inspiring Leaders in Our Changing Industry: Simon Ziff, Ackman-Ziff

This summer, Connect CRE is producing a series titled, “Inspiring Leaders in Our Changing Industry” as a follow-up to last summer’s “Leading in Tough Times” series. We’ve selected leaders around the U.S. and across the commercial real estate spectrum to discuss significant changes in the industry and their organizations. In this installment, you’ll hear from Simon Ziff, president of Ackman-Ziff Real Estate Group LLC.

Charting a New Course: How do you navigate the transition from established practices to pioneering new frontiers within your organization?

As capital advisors we are obsessed with discovering all forms of debt and equity capital and the landscape for both is constantly evolving, necessitating an entrepreneurial attitude and we are constantly pushing into new spaces. A recent example of this is a $190-million programmatic joint venture equity relationship we arranged in the renewable energy space. While these are fundamentally real estate assets, Ackman-Ziff won and executed on this assignment based on our ability to use our network to identify institutional capital sources seeking alternative asset classes.

Guiding the Next Generation: As we acknowledge the industry’s rising stars, what guidance can you offer them to become catalysts for positive change?

I recently posted about this subject on LinkedIn and received many thoughtful and poignant responses from my connections wide and far. At Ackman-Ziff we believe it is every team members’ responsibility to be a resource for those interested in learning more about the firm and the industry. In addition to the four college and university real estate boards I sit on, and the numerous calls I take each week with young industry participants, I am particularly proud of Ackman-Ziff’s AZ Educate program. Each summer we host this virtual program to provide insights into how strong relationships, good business ethics, and elevating those around us serve as the framework for a successful professional and personal life.

Catalysts for Change: What are the essential elements for achieving significant progress within your organization and the industry as a whole?

One of the more frustrating aspects of the industry is the lack of adherence to my former partner, Larry Ackman’s, and my belief that “Good business ethics is good business.” Over the years I have been amazed by how some companies and individuals handle certain situations.

A notable example is when someone suffers financially—or in other ways—because of another party’s actions. I believe that in such cases, there is a duty to assist the affected party. While it may not always be immediately possible or feasible, there should always be an effort made to provide help.

Transparency is another critical issue. The industry should implement stronger consequences for misrepresentations and dual agency practices.

Click here to see the full Inspiring Leaders in Our Changing Industry series.