People Property Place #70 Penny Hacking, Managing Director of European Capital Markets at Avison Young
Apr 25, 2024
Penny Hacking, Managing Director at Avison Young, brings over 25 years of experience in EMEA capital markets. She shares insights into her journey in real estate, the evolution of the industry, and the importance of diversity and mentorship. Penny discusses the recovery of the European market and the dynamics of buy-side and sell-side mandates. She also highlights strategic investment opportunities in logistics and the vital role of relationships, while pondering where she would invest £500 million.
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Career Start
- Penny Hacking's father initially envisioned her pursuing land management due to their farming background.
- However, a pivotal interview at the Royal Agricultural College led her to commercial real estate.
Joining JLL
- Despite aiming for Jones Lang Wootton's graduate scheme, Penny initially took a data analyst role.
- She strategically negotiated to join the graduate scheme later, showcasing her determination.
Landlord-Tenant Shift
- Penny transitioned from data analysis to landlord and tenant work, guided by colleague Tony Hartley.
- This shift provided crucial insights into lease structures, valuations, and negotiation, essential for capital markets.