MANAGEMENT PERSONNEL.

Scott H. Hartstein of Ridgewood, N.J., (photo) has been named chief underwriter at SWH Funding Corp. (SWH) in Hackensack, N.J. The company provides high-yield commercial mortgage loans when conventional financing is not an option.

Hartstein joined SWH in 1995 as a real estate analyst. In his new position, he oversees the company's growing underwriting department. In addition to supervising a staff of underwriters and administrative personnel, he assists in the structuring, funding and closing of all SWH loans, which range from $2 million to $50 million throughout the United States. Hartstein also contributes to the firm's strategic marketing efforts.

"This is a fascinating business with a strong future," noted Hartstein, who earned a bachelor's degree in history from Lehigh University. "During the past few years, SWH has grown significantly, and I look forward to being part of its continued progress."

Robert J. Donnelly, of Flanders, N.J. has been named executive vice president of Cushman & Wakefield of New Jersey, Inc., announced Donald P. Eisen, executive managing director, New York Area. Donnelly is the first individual based outside the company's headquarters to receive this title and the third among Cushman & Wakefield's 9,500 professionals worldwide. The achievement acknowledges more than two decades of consistent record-breaking activity by Donnelly on behalf of the firm.

Donnelly joined Cushman & Wakefield as a broker in 1979 and opened the company's Parsippany office in 1984. He has been the number one leasing broker in New Jersey for more than 10 years and has ranked among the company's Top 10 brokers in the U.S. for the last six years. In 1996, Donnelly was Cushman & Wakefield's top performing broker nationwide and also earned Cushman & Wakefield's National Deal of the Year Award for his involvement in the relocation of Mutual of New York's headquarters to New York City. In addition, he received the firm's Corporate Services award for his achievements.

"Bob has played a key role in our growth in New Jersey and in the evolution of many key markets, including Morris County, which today is one of the top commercial real estate hubs of the tri-state region," Eisen added.

"When I started my career in this industry in the early '80s, Morris County was really in its infancy stage in terms of office development," Donnelly explained. "As a result, I was able to get involved in key land acquisitions, followed by the subsequent leasing of a number of hallmark properties." The list includes the 560,000-square-foot Headquarters Plaza office complex in Morristown, where Donnelly has served as leasing agent since 1980. Donnelly also has continued to serve as exclusive leasing agent for the 7 million-square-foot International Trade Center complex in Mount Olive since its pre-construction marketing phases in 1982.

Donnelly also represented Sammis Companies (now Gale & Wentworth) in its original New Jersey investments involving the purchase of more than 3,000 acres of land in Morris and Somerset counties. Last year, Donnelly sold Gale & Wentworth 170 acres for an 820,000-square-foot development at the junction of Interstate-78 and Martinsville Road in Somerset County.

Jack Resnick & Sons, Inc. has named Barbara Chu managing director of investments. In this capacity, she will be involved with all investment activity for the 70-year-old real estate firm.

Ms. Chu brings a broad background to her new post. Until 1988, she was a commercial real estate lender as national head of mortgage production for MetLife Real Estate Investments. As such, she originated $5 billion of new loans, managing the national field office, identifying and implementing major changes in the firm's marketing, legal and origination processes.

Before that, she was head of Northeast Investments and Sales at Prudential Mortgage Capital Company, where she was responsible for mortgage originations, sales properties and managing the $5 billion loan portfolio.

"Barbara is extraordinarily talented and we are very excited to have her join our team, "said Scott N. Resnick, president of the firm.

Simon Ziff, President, The Ackman-Ziff Real Estate Group, LLC, reported the appointment of Alan Goodkin as Senior Director. Prior to joining the company, he was a vice president of Sonnenblick-Goldman Company's Capital Markets Group. His responsibilities included the origination, marketing, structuring, and/or placement of sales and financing transactions of more than $700 million. Previously, he was a workout analyst and later an asset manager at FGH Realty Credit Corporation, where he was involved in the restructuring or foreclosure of more than $300 million of loans in default.

Alan Goodkin earned a B.A. in accounting from Washington & Jefferson College and a master's degree in real estate development and investment from New York University.

James J. Houlihan, (photo) partner of Houlihan-Parnes Realtors, LLC, was awarded the Ellis Island Medal of Honor on May 6 in a ceremony at Ellis Island. Other honorees included: United States Attorney General Janet Reno; New York Yankees' manager Joe Torre; New York State Attorney General Eliot Spitzer; and celebrities including Susan Lucci, Chita Rivera and Hugh O'Brien. Mr. Houlihan was nominated by Sister Virginia Hanrahan of the Dominican Sisters of the Poor, a recipient of the Ellis Island Medal of Honor herself in 1999. The award is annually given out to Americans as a result. of their exceptional humanitarian efforts and contributions to our country.

Mr. Houlihan was cited for his work on behalf of the Irish-American community. In particular, he was recognized for his efforts on behalf of The Great Hunger Memorial of Westchester County. Mr. Houlihan serves as chairman of this committee. Mr. Houlihan is a former resident of Bronxville, N.Y. and now lives in Hastings on Hudson, N.Y.

Jonathan W. Cappo, 34, (photo) has been promoted to managing director at New York-based Concorde Realty Partners, a real estate investment advisory firm. Formerly, he was a Senior Vice President.

Mr. Cappo's primary responsibility is overseeing the acquisition and portfolio management activities of the firm. He joined Concorde in February 1998 and during his two-year tenure there has grown the firm's portfolio to ten properties valued at more than $200 million.

Prior to joining Concorde, Mr. Cappo was a Vice President of Citicorp Real Estate, Inc., where for seven years he was responsible for the asset management, development and disposition of more than $650 million in office, retail, residential, multi-family and land properties located throughout the United States.

Before Citicorp, he was a portfolio analyst at JMB Institutional Realty Corporation, the pension fund advisory arm of JMB Realty Corporation. While at JMB, Mr. Cappo was involved in the portfolio management of office and retail properties valued at more than $1.2 billion.

A graduate of the University of Michigan, Mr. Cappo is a former Certified Public Accountant and received an MBA degree in Finance from the Leonard N. Stern School of Business at New York University.

W. P. Carey & Co., Inc., (photo) a leading real estate investment banking firm and the largest lessor of net leased corporate properties in the United States, announced the appointment by its Board of Directors of W. Sean Sovak as Executive Director.

Commenting on the appointment, Wm. Polk Carey, Chairman and Chief Executive of W. P. Carey, stated, "Actively involved in sourcing and bringing to close a number of complex sale/leaseback transactions, Sean Sovak is a key member of our acquisitions team. Sean's intelligence, strong financial and analytical training and knowledge of the hi-tech sector, have enabled him to make a significant contribution to the growth of W. P. Carey by expanding the range of our transactional capabilities to meet the needs of the rapidly evolving hi tech industry. His appointment to Executive Director indicates our confidence that he is among the new generation of highly talented individuals who will ensure the continued success of W. P. Carey well into the future."

As a member of W. P. Carey's acquisition group Sean Sovak has structured and closed approximately $500 million of sale/leaseback and build-to-suit transactions.

Mr. Sovak joined W. P. Carey as Assistant to the Chairman in 1994 and was appointed a First Vice President in April 1998. He is a summa cum laude graduate of the University of Pennsylvania's Wharton School.

Joseph R. Romano has been appointed a Regional Managing Director at the Advance Group, a Bedminster, N.J.-based real estate development, investment and management company. Mr. Romano joins The Advance Group from Grubb & Ellis, where he served as executive vice president/managing director for their New Jersey operations. While at Grubb & Ellis, Mr. Romano was responsible for growing the firm into one of New Jersey's largest brokerage companies.

At The Advance Group, Mr. Romano will be responsible for managing the company's operations in the Northern New Jersey marketplace. The Advance Group has reconfigured their internal structure to create three Regional Managing Director positions in the Northern & Central New Jersey, Southern New Jersey & Suburban Philadelphia, Boston and Washington, D .C. markets. The role of the Regional Managing Director is to originate acquisition and development transactions as well as be responsible for leasing and marketing activities in the region.

The Advance Group has also recently closed a $200 million joint venture with INVESCO Realty Advisors, a large pension fund advisor, to acquire up to $500 million of value-added properties in their targeted markets.

He is a graduate of Seton Hall University, with a BS degree in education. He is a member of the Industrial Development Research Council (IDRC) and a former officer of the National Association of Office and Industrial Parks (NAIOP).