Ernst & Young has promoted Mike Straneva and Mark Grinis to leadership roles within its Americas real estate practice. The global accounting and advisory firm, which is headquartered in London, named Straneva as head of its overall Americas practice and Grinis as transactions practice leader.
Straneva, a Phoenix-based partner, has headed the firm’s transaction real estate practice for the past six years. In his new role, the 27-year industry veteran will focus on further expanding Ernst & Young’s assurance, tax and transaction advisory practices for the real estate industry in North America. He previously focused on representing REITs, homebuilders, sovereign wealth funds, private equity funds, lenders and creditors on a variety of transactions and is experienced in advising on real estate workouts and restructurings.
Succeeding Straneva as transaction real estate leader is Grinis, a New York-based partner who has held several key leadership positions in the US and Japan during his 26 years at the firm. He will remain leader of Ernst & Young’s global real estate private equity funds practice, a role he assumed last year, and also will continue to head the firm’s real estate distressed services initiative, which launched two years ago and is involved in advising high-profile clients on loan sales transactions.
Straneva’s new focus “will enable us to concentrate on growing our overall business at a critical time as the real estate markets begin their next growth cycle,” said Howard Roth, global real estate leader, in a statement. Meanwhile, Grinis “has been a key leader through several cycles both here and in Japan, giving him the necessary hands-on perspective and insight,” Roth added.
Of his new role, Straneva said: “This is an exciting time in the real estate sector. Fundamentals are returning to the market and corporate America is beginning to make moves toward expansion in expectation of a stronger rebound in the economy.”
The new appointments took effect at the beginning of July.