REAL ESTATE

Jones Lang LaSalle debuts website for FASB/IASB updates

BY CSA STAFF

Chicago — Jones Lang LaSalle announced Tuesday that it has launched a website to deliver strategies, tools and information regarding the upcoming changes in lease accounting treatment by the U.S. Financial Accounting Standards Board (FASB) and its counterpart, the International Accounting Standards Board (IASB).

The new site, LeaseAccountingChanges.com, is designed to enable companies to better understand how the changes will affect them, as well as how to develop a plan for preparing for "Day 1" impact to integrating and aligning their strategic planning and portfolio strategy.

“The new lease accounting standards will dramatically impact every organization that holds a lease, and will have important ramifications across all corporate functions, from corporate real estate and finance to technology and human resources,” said Vivian Mumaw, Jones Lang LaSalle’s Global Leader, Lease Administration. “Organizations around the globe are rethinking their lease administration strategies in light of these changes, and this new website will provide actionable tools and information to help them formulate robust strategies to support successful compliance.”

Some highlights of the website’s features include a lease accounting impact calculator and a lease accounting preparedness checklist.

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REAL ESTATE

Steven E. Baker named president of Winick Realty Group

BY CSA STAFF

New York City — Winick Realty Group LLC said Tuesday that, effective immediately, Steven E. Baker has been named president of the firm.

Baker, who is also a partner, had previously held the title of co-president.

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REAL ESTATE

Urban Retail names finance exec

BY CSA STAFF

Chicago — Urban Retail Properties LLC said Tuesday it has appointed Samuel J. Greenblatt as principal, finance/capital markets. Greenblatt’s primary role will be to raise capital and foster financial relationship opportunities for the company.

Prior to his role with Urban, Greenblatt was executive VP and director of originations of RAIT Financial Trust, a NYSE traded mortgage real estate investment trust.

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