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Mark Grinis

As EY Global Real Estate, Hospitality & Construction Leader, Mark coordinates the efforts of 15,000 professionals around the world who serve more than 6,000 clients.

Mark has three decades of real estate industry experience and previously led Real Estate, Hospitality & Construction in the US Central region and EY Global Real Estate Private Equity.

His prior roles include lead audit partner for real estate funds, Americas Transaction Real Estate Practice Leader, and Asia Real Estate Practice Managing Partner.

Mark is a licensed CPA in NY and a member of the American Institute of Certified Public Accountants. He has co-authored The Guide to Distress Debt and Turnaround Investing and our annual report, Global market outlook: trends in real estate private equity. He frequently speaks at key industry events.

Mark received his BA in Economics and Accounting from Claremont McKenna College.

How Mark is building a better working world

Mark helps our real estate clients address their opportunities and challenges, including digital issues, as they plan for the future.

Sours: https://www.ey.com/en_us/people/mark-grinis

What EY can do for you

As REITs continue to gain prominence globally, including ongoing growth in nontraditional property sectors, we are here to help organizations successfully manage their capital agenda, allocate capital, enhance their operations and adapt to disruptive influences, all within their regulatory frameworks.

REITs and other real estate organizations are seeing environmental, social and governance (ESG) strategies that are continuing to gain momentum in the market as capital and talent shift from organizations that create only value for their shareholders to those that create value in the long term, across a broader group of stakeholders, including employees, consumers, suppliers, communities, government, investors and shareholders. This shift requires an increased focus on areas such as carbon reduction within real estate; social aspects, such as employee/tenant wellness and the return-to-work environment; and governance efforts that include diligence and nonfinancial reporting on these and other important ESG metrics.

In addition, the explosion of venture capital invested in built-world technology cannot be ignored. Real estate owners and operators are recognizing and reaping the benefits of current and new technologies that improve the customer experience, increase access to financial data, enhance internal efficiencies, reduce risk, and create new services or products.

EY services and solutions to help you on your journey include, but are not limited to:

Sours: https://www.ey.com/en_us/real-estate-hospitality-construction/real-estate-investment-trusts
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Real Estate, Hospitality & Construction Consulting Services

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Future of Real Estate
Welcome to EY.com

In addition to cookies that are strictly necessary to operate this website, we use the following types of cookies to improve your experience and our services: Functional cookies to enhance your experience (e.g. remember settings), Performance cookies to measure the website's performance and improve your experience, Advertising/Targeting cookies, which are set by third parties with whom we execute advertising campaigns and allow us to provide you with advertisements relevant to you.

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How tech strategies are driving the future of real estate

In addition, it impedes organizations from providing a seamless user experience at a time when customer expectations are evolving very quickly. As one REIT executive said, “people have grown to expect that a solution will do everything immediately.” 

The status quo provides proptech companies with a major opportunity to shorten the path to value creation for themselves and their investors. First, tenants’ needs have shifted and are no longer focused on the same space types or amenities. In addition, real estate companies are only beginning to adjust to the seismic shift taking place in the industry. At the same time, Danehy noted, “there’s probably a dozen different tenant engagement systems that offer the promise of being able to enhance the visitor experience and the employee experience,” but very few of them integrate seamlessly with a building owner’s current systems. As such, true customer-centricity will be essential for real estate companies to unlock long-term value, and proptech companies that provide this capability have the potential to grow rapidly. 

Enhancing the customer experience 

On this topic, Regan-Levine noted his company’s desire to “create the best possible environment for the best tenants” by being intentional about putting the tenant experience at the center of the REIT’s digital transformation. For example, a multinational technology company recently selected this public REIT to assist with developing the site for its second headquarters. By highlighting its strategy to enhance the site’s digital capabilities through its acquisition of a 5G provider, the REIT offered a key differentiator at a crucial time. According to Regan-Levine, this was “due in part to the company’s desire to attract cutting-edge tenants and to lay the foundation for a broader smart city.” This will allow enterprises to connect their people and systems in real time and transform customer engagement and experiences.

Facilitating wide-scale adoption of technology in real estate will require changemakers such as venture capitalists and entrepreneurs to collaborate with real estate owners, operators and developers to deploy fully integrated technology solutions that meet end users’ expectations. This is because new digital technology solutions require post-implementation support and ongoing product development to drive user satisfaction. Utilizing a customer-focused “hypercare support” approach toward building apps for tenants, smart apps for construction work, financial close management software and other leading solutions will drive better adoption rates by minimizing the issues and challenges that come with a new system. 

Closing the technology talent gap and developing solutions across multiple sectors 

Several of today’s real estate industry leaders have emerged from the tech world, bringing with them a desire to streamline processes and facilitate innovations in service and product delivery when consumer expectations are fundamentally changing. For example, Blueprint Power (whose CEO, Robyn Beavers, also joined our roundtable) is a New York-based real estate tech company that turns buildings into revenue-generating clean power plants. Asked how they brought this disruptive and innovative strategy to the real estate industry, Beavers responded, “I actually think real estate owners are the best partners because the buildings themselves are actually one of the most valuable pieces of the future energy grid. Another roundtable executive added that being able to generate electricity and shift to renewable energy sources allows building owners to not only reduce costs, but to also set forth sustainability targets for carbon neutrality as institutional investors don’t just expect an ESG focus; they demand it. 

As competition for talent increases, prioritizing technology will become a key differentiator for real estate, which is the world’s most important and largest asset class. Several real estate market participants, including owners, operators and developers, venture capital firms and academia, have begun to work closely with tenants to implement research and development laboratories to accelerate innovation in the built environment.

How EY can help

Construction & Real Estate Advisory Services

By aligning construction, real estate and facilities operations to an organization’s strategic goals, EY helps clients make informed decisions to achieve a competitive advantage by managing risk, reducing costs and increasing operational efficiency.

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EY Entrepreneur Of The Year® 2016: Real Estate, Hospitality and Construction

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