Compass has continued its recent spree of recruiting top talent from Coldwell Banker. In the most recent instance, it pulled in Michael Libow, veteran broker who has been working in Beverly Hills for 30 years. He will be based in Compass’ Beverly Hills office on Rodeo Drive. Libow started his career at Mimi Styne Associates, which ultimately became Coldwell after a series of mergers. Libow, who also owns the landmarked Witch’s House in Beverly Hills, was recently involved in selling two properties owned by the now bankrupt luxury developer Woodbridge Group of Companies. He’s also represented former Clippers owner Donald Sterling. Compass recently added at least 23 agents and staff from Coldwell Banker in Los Angeles. Most notably, it recruited Coldwell’s top agent globally, Chris Cortazzo, and another top-producer Ginger Glass.
Top-producing broker Sally Forster Jones, also at Compass, is growing her team. SFJ Group, as it is named, tapped Jay Robertson to join its ranks. Robertson was previously branch manager at Coldwell’s Brentwood office. Prior, he worked for 13 years as the president of First Capital Mortgage, an affiliate of Coldwell. Robertson is also based in Compass’ Beverly Hills office, alongside with the rest of SFJ Group. Including Robertson and Jones, the team has 22 agents and 10 staff.
A former CBRE broker has partnered with an L.A.-based real estate investment firm to form PaxCap Investors. The El Segundo-based venture will target distressed real estate debt and equity investments in the $5 million to $50 million range. Carlos A.G. Vigon, a former senior vice president at CBRE and a property and portfolio adviser, is CEO of the company, called Paxcap Investors. The partner firm is Tavaco Capital Management. Vigon said Paxcap will use equity partners, and wants to eventually build a $1 billion portfolio of real estate assets. The firm would not target a specific region or asset class, but would seek value-add opportunities. Vigon said given the economy’s years-long expansion, “the kinds of opportunities that [we] can capitalize on in a market downturn are greater than ever.” Prior to CBRE, Vigon founded Wilshire Secured Capital, a real estate private equity firm that focused on distressed assets.