In 1991 real estate experts Howard Hallengren (Chairman) and Jack Miller (President) left Chase Manhattan Bank to found Falcon Real Estate, and they immediately began assembling a team of real estate professionals with broad and diverse experience. From the beginning of the company, Falcon has focused on providing a complete and comprehensive service to overseas investors in the U.S. real estate market. Many of the services provided to our clients are designed to be similar to those provided by international private banks, with an emphasis on a high level of individual attention. The real estate professionals on Falcon’s staff are selected because they understand the need to provide expert real estate advice to sophisticated institutional and high-net-worth individual investors globally. This fundamental approach has successfully attracted investors from around the world, enabling Falcon to carry out transactions on behalf of our clients totaling close to $7 billion since the formation of the company.

Falcon had operated as a partnership for many years but effective as of January 1, 2011, the company incorporated as Falcon Real Estate Investment Management, Ltd., appointing new directors and broadening the ownership of the company.

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Board of Directors

Howard E. Hallengren

Chairman  |  Chief Executive Officer

Howard Hallengren has extensive management experience in the real estate investment field. Prior to forming Falcon, Mr. Hallengren was Chief Investment Officer and Product Manager for the International Private Banking Department of the Chase Manhattan Bank. In that capacity, he had overall responsibility for the bank’s real estate investments on behalf of non-U.S. investors, including the Chase Manhattan Real Estate Fund.  Before joining Chase, Mr. Hallengren was Chief Investment Officer at The First National Bank of Chicago. During his tenure there, he also served as Chairman of the Real Estate Investment Committee, which supervised Real Estate Fund F, one of the first commingled funds for US employee benefit trusts. Mr. Hallengren is a graduate of Princeton University and received his master’s degree in business administration from the University of Chicago.

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Jack D. Miller

President

Jack Miller, who oversees all acquisitions at Falcon Real Estate, joined Falcon after serving as Manager of the Real Estate Investment Division within Private Banking International at the Chase Manhattan Bank. In that role, he had direct responsibility for property acquisition, property management and mortgage financing. Like Mr. Hallengren, Mr. Miller also came to Chase from The First National Bank of Chicago, where he served for ten years in the bank’s real estate investment division. He is a founding member of the Accounting Standards Committee of the National Council of Real Estate Investment Fiduciaries, which is the coordinating group that sets accounting standards for U.S. institutional investors. Mr. Miller received a Bachelor of Science degree in accounting and a master of finance in real estate from De Paul University, as well as a master’s degree in business administration from the University of Chicago.

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David Rhoades

President – Western Region

David P. Rhoades is President — Western Region for Falcon Real Estate. Mr. Rhoades is also the founder and manager of Urban Realty Co., Inc. of San Francisco, California, where he sets the strategic direction for the company and directs its operations and development. He has been active in California commercial real estate for over 30 years as a developer and valuation expert. Through Urban and his prior independent companies, Mr. Rhoades acquired and renovated existing buildings, managed the construction of new buildings, negotiated leases, and has provided asset-management for a variety of property types. 

Mr. Rhoades has a long and distinguished career as an appraiser and consultant on major real estate projects in the western United States. He maintains a network of senior level, corporate real estate contacts cultivated from a background of appraising in excess of 300 major properties representing over fifty million square feet of space. His appraisal and consulting experience covers existing and proposed construction of retail, office, residential, industrial and vacant land properties.  Representative clients include Wells Fargo Bank, GE Capital, Equity Office, Beacon Capital Partners, LLC, Bank of America, Kilroy Realty Corporation, Columbia Property Trust, CIM and other major corporations and institutions. Mr. Rhoades has an MAI designation from the Appraisal Institute, a member of Lambda Alpha International an honorary land economics society, and is a licensed California real estate broker. He received a degree in finance from the California State University at Long Beach.

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Norman Hill

First Vice President   |  Chief Financial Officer

Serving as First Vice President and Chief Financial Officer out of Falcon’s Dallas, Texas office, Norman Hill has overall supervisory responsibility for the company’s financial accounting, reporting and analysis functions. Mr. Hill joined Falcon in August 2002 with fourteen years experience in the commercial real estate industry, nine of which were in financial accounting. Prior to joining Falcon, Mr. Hill worked with L&B Realty Advisors, Inc. a Dallas based national real estate advisory firm serving institutional clients. During his tenure with the firm, he served in a variety of positions including associate asset manager, associate portfolio manager, financial systems manager and property controller. A graduate of Texas Tech University, Mr. Hill has a bachelor of business administration degree in finance.

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Sean Thompson

Director of Acquisitions – Western Region

Mr. Thompson is responsible for evaluating acquisition opportunities and asset management of the company's investments.

Prior to joining Urban Realty, Mr. Thompson worked for The Macerich Company, a publicly traded REIT focused on regional malls, in a variety of property management and asset management roles. His primary responsibilities included the asset management of joint ventures with major public pension plans focused on strategic planning and operational performance as well as the acquisition and disposition of major retail properties.

Mr. Thompson was part of the team that orchestrated the highly successful expansion of Queens Center in Queens, New York. Mr. Thompson graduated from the University of California, Los Angeles with degrees in Economics and Political Science.

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Miriam Driot

Director of Acquisitions – Northeast

Miriam Driot is the Director of Acquisitions for Falcon Real Estate, specifically responsible for property acquisitions in the northeastern section of the United States. Her primary focus is on New York City and Boston and their immediate suburban areas. In addition, Ms. Driot plays an active role in supporting Falcon’s new business activities. She has a background in sales, marketing and public relations at companies like Balenciaga, Donna Karan and Pierre Cardin. She got her start in real estate as a residential agent at Sotheby’s and Engel & Voelkers. She earned a masters degree in International Affairs at The New School in 2009 and also has a B.A in business with a minor in Journalism. Ms. Driot is a native of the French Riviera who speaks fluent French, Italian and conversational German.

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Advisors to the Board

David A. Hill

Of Counsel

David Hill is located in the Dallas office, and provides advice for establishing investment goals and ownership structures for international investors. Clients include both high net worth individuals and investment funds sponsored by Middle East financial institutions. Mr. Hill has assisted in the acquisition, financing, property management, leasing and disposition of more than $2 billion of trophy investment properties in Washington, DC, Virginia, Colorado, Florida and Texas. Mr. Hill established the accounting, cash control and tax reporting functions for Falcon’s clients, and has successfully represented clients in more than 20 audits by the Internal Revenue Service.

Mr. Hill has been a licensed real estate broker since 1991. Prior to associating with Falcon in 1996, Mr. Hill provided property management and brokerage services to the Federal Deposit Insurance Corporation, the Federal Savings and Loan Insurance Corporation, the Resolution Trust Corporation, and numerous financial institutions. Mr. Hill has been a Certified Public Accountant since 1979, and was employed by Arthur Andersen & Co for seven years. Mr. Hill received Bachelor of Business Administration and Master of Business Administration degrees from the College of William and Mary in Virginia.

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Experienced Management