End of the ex-pat era?

We have become used to the idea that every important position in international real estate agencies is occupied by specialists sent from the “more developed countries”, or who are “more experienced on mature markets.” However, after nearly twenty years of development for the Polish property market, local analysts are now beginning to move up the managerial ladder. One eminent example of this is Tomasz Trzósło, head of CEE Capital Markets and Investment at Jones Lang LaSalle and our High-flyer for January 2009

What do you like most and least about doing business in Poland?

I like the hard working business ethic very much in Poland on the one hand, but also the social side associated with it on the other – Poland seems to work well based on the old English principle of exchanging ideas and real estate market knowledge over a glass of beer, or sometimes something stronger. I believe I personally fit reasonably well into this old brokers’ style of doing real estate business.

 

Who do you most admire in the real estate business?

People who have decided to build up their own large-scale businesses and have succeeded. This requires not only braveness and luck, but also vision and character – and there are only a few people in the real estate business in the CEE who combine all of these factors.

 

How did you first get into real estate?

I was headhunted during the final year of my university studies in Kraków. The two people at JLL responsible for recruiting analysts to the capital markets team back in 1997 thought it would be a great idea to spend a couple of days in Kraków to do the interviews with potential candidates. One way or another, I ended up at JLL, having been selected from the eventual candidates. The recruitment consultant then prepared a summary of my qualities as a candidate, which I saw some time after I was employed – with the opinion being that I could become a great asset to the company, but this was balanced with the view that there was a risk that I would not develop within the company, because I was characterized as having a personality that may not necessarily fit in well within a big institution. Well, I am still not sure whether the second opinion was true or not, as JLL has provided me with a truly comfortable atmosphere over all these years.

 

What is your greatest failure?

In my late teens, my ambition was to become a musician. I had to drop this idea when I realized that I do not quite have the talent to do this for a living. We played in various bars in Kraków, and basically found ourselves in a Blues Brothers-type situation – we had some friends attending every concert and the bar was always open for the band, but this unfortunately meant that at the end of each concert our bar bills were always higher than our remuneration. I certainly think real estate is a better place to make money when you are not quite the calibre of a Robbie Williams.

 

What contribution do you think you have made to Polish society through your business activities?

The only thing that comes to my mind right now is that maybe the Kaczyński brothers may learn from my case that it is possible to co-operate in a friendly manner with foreign companies.

 

Which major projects are you planning in the near future?

My mom says my next highest priority big project should not be real estate – she wants me to get married and finally produce some grandchildren. Well, this forms part of my plans too, but is not necessarily as high up on my list of priorities as it is on my mom’s list.

 

Which is your favourite building and why?

I personally believe that one of best buildings developed in Poland is the Warsaw Financial Center – it is a great example of American architecture and, bearing in mind that the building was completed in 1998, it does not seem to be getting any older 10 years later. I am also a big fan of Rondo 1 – this is to me the best real estate in the CEE region.

 

Which living person do you most admire and why?

Because this is appearing in a real estate publication, which is read by people in the industry, it is a perfect opportunity for me to confess that it is of course my boss.

 

What is your idea of a perfect day?

Closing a EUR 500 mln deal in the morning, getting the invoice paid by lunchtime, having a glass of champagne to celebrate and leaving for a holiday at the end of it.

 

Tomasz Trzósło, is head of Jones Lang LaSalle’s capital markets team in Poland and is responsible for the activities of the Polish investment team, having a supervisory role for the capital markets advisory services of Jones Lang LaSalle across Central Europe (involving Jones Lang LaSalle offices in Prague, Budapest and Bucharest). The activities of the team include sales and acquisition advice, debt financing advice, structured equity financing mandates and general financial advisory. Tomasz has over ten years’ experience in Central European capital markets. He has been with JLL since the final year of his studies at the Kraków University of Economics, where he studied accounting. In his spare time Tomasz is passionate about travelling.