AMO spotlight.(What's up? )(Accredited Management Organization)

To earn the ACCREDITED MANAGEMENT ORGANIZATION[R] (AMO) designation from IREM, a company must demonstrate a high level of performance, experience and financial stability, and have a CPM[R] in an executive position. AMO firms must meet high ethical standards and other stringent requirements, proving their value to the industry.

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With 227 offices in about 59 countries, Cushman & Wakefield serves the real estate needs of corporations and financial institutions around the globe. In addition to property management, brokerage and appraisal services, the company also provides research and analysis on markets worldwide, portfolio optimization, supply chain management, and owner and investor services.

John C. Santora, CPM, is Cushman & Wakefield's president and CEO for the firm's largest operating region--the Americas. A 31-year veteran of Cushman & Wakefield and experienced global executive, Santora oversees 137 offices throughout North and South America. Santora is also a member of the firm's senior governing body, the Cushman & Wakefield Board of Directors. JPM talked to Santora about his company and what the AMO accreditation means to the firm.

What is it like to work for a global real estate company?

I joined Cushman & Wakefield in 1977 in the property management division starting as an operating engineer. One of the great characteristics of the firm is its entrepreneurial culture, where hard work, high performance and an exceptional track record of client service are recognized and rewarded. As the firm has become more global, I've had the opportunity to collaborate closely with some of the best and brightest executives on six continents, and to bring a wide range of best practices to my work on a daily basis.

How has your company's global experience helped shape business practices and vision? Being global has necessitated a strong commitment to consistency and to collaboration, as well as to preserving our culture of excellence. Our global platform is at the core of everything we do. More than a third of all commercial real estate investment activity worldwide in the last few years has been cross-border. We have a stated objective to continue the diversification of our business and to increase our international revenues to more than 50 percent of overall revenue in the next two years.

What are the benefits of being AMO accredited and associated with IREM? I think it's very straightforward but essential. The AMO designation is third-party credibility of an organization's professionalism and proven competencies. On the service end, a high level of performance, competency and continuing education are all factors that drive success, and IREM provides the framework for the best in the profession to follow.

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What real estate trends, issues or concerns will have an impact on the Americas in the next few years? Today, despite uncertainty in the economy and the challenges in the credit markets, commercial real estate fundamentals throughout the Americas are relatively sound. In fact, major markets in Canada, the United States, Mexico and South America have single-digit vacancies, so we are entering a period of slower growth from a position of relative strength. Next year will be challenging, as new construction completions are expected to reach 15 million square feet in the United States, coinciding with increased vacancies stemming from troubles in the financial sector. With that said, it will be 12 to 24 months of great opportunity to acquire property off the highs of the past two years.

Company headquarters location:

Cushman & Wakefield is headquartered in New York, N.Y.

Number of employees:

15,000 worldwide

Date the company become an AMO firm:

November 11,1997

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