RE investment trust company takes aim at RIA, BD distributors in tri-state. Real-estate investment trust (REIT) manager KBS Capital Markets Group has hired veteran wholesaler Greg McGowan, formerly with Lincoln Financial Distributors, to drum up business with RIAs and broker-dealers in and around New York.

"KBS Capital Markets Group will benefit greatly from Greg's vast marketing experience and breadth of relationships within the local broker/dealer and advisor community," says KBS' CEO Mike Crimmins. "We're confident of his success at building upon KBS' already strong sales and marketing presence throughout the region."

Uphill

McGowan had been head of marketing for Lincoln's metro New York and Long Island region. Before that, was a Long Island regional v.p. with AXA Distributors. He has also worked at Fidelity's RIA custody division, pre-Citigroup Smith Barney (now part of the joint venture retail brokerage Morgan Stanley Smith Barney), and Keystone Investments.

By November 2008, U.S. REITs had fallen more than 48% in the previous 12 months, according to the National Association of Real Estate Investment Trust's NAREIT Index. In the seven months since, they've clawed back about 4%.

KBS says it "has completed transactional activity exceeding $16.5 billion via 19 separate accounts, six commingled funds and two private equity REITs" since 1992. In addition to its headquarters in Newport Beach, Calif., it has offices in Los Angeles, San Francisco, Dallas, Chicago, Atlanta, Washington, D.C., New York and Boston. -FWR

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