Pitts joins Ruhl & Ruhl after stint at Regency
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You have jumped from CB Richard Ellis/Hubbell Commercial, to Regency Homes, to Peoples Co. and now to NAI Ruhl & Ruhl Commercial Co. all within the past seven years. Why?
When I first started at Hubbell, I thought I would be there for the rest of my career. But then I had a good opportunity presented to me at Regency to come on board and kind of help them get a corral on their commercial holdings. So, the last year of my life has been working with Regency and the disposition of a lot of their assets to satisfy bank debt and whatnot. And so as I started at Peoples (in June), I started to look at the (Regency) deals that I thought would be closing earlier in the summer get pushed back. That’s when I told Steve Bruere, (president of Peoples and) a college buddy of mine, that I needed to focus on closing the (Regency) deals and I can’t really focus on ramping stuff up at a new company until I get this done. So that’s why I made that transition. Then once those deals did close, I re-interviewed the market and as I talked to everyone the second time around, I said this is the last decision I ever want to make, and the right move was Ruhl & Ruhl.
How have you spent your time so far at Ruhl & Ruhl?
Just meeting with the client base that I had when I was at CB Richard Ellis, saying, “Hey, I’m back,” and doing what I did previously, getting my name back out. So the last two weeks, just PR-type meetings getting out there and just trying to find deals and churn up business.
What did you learn from watching Regency unravel the way it did?
We came to the point where we did everything we could, so you learn a lot. I’ve learned a lot in general business and I’ve learned more in the last year and a half than I probably would have in 10 years otherwise. So it has been quite a learning experience, I’ll tell you that. I made a lot of good contacts and I still work with those guys on some stuff when we can, and you know, they’ll be back in some regard. I learned a lot about commercial real estate and how to source buyers for those type of products. (Regency) kind of gave me an inside look on how to find these guys and then get under the table and get the deals closed up. That is probably the biggest thing I have learned in the last year.
If you could go back in your career and change one thing, what would you change?
I don’t think anything. A lot of it is just right place at the right time. From coming on board at CB Richard Ellis and the learning experience there, to going over to Regency and working with them, it’s just been a great experience. I mean, yeah, you could always look back and say, “Should I have done this? Should I not have done this?” but I wouldn’t change anything. I’ve learned a lot in the seven years I’ve been in the business, and I have a better education than some people would in 10 or 15 years.
If Regency came back, would you consider going back?
Oh yeah, but it’s a different deal now, you know? If some of the people involved there would ever have projects, I’d be happy to help them and they know that.
What do you appreciate most?
Friends and family. In tough times like this, it’s amazing how much friends and family really come together. From looking at Rob and Jamie (Myers) and everything they have gone through, and even my own family, I’ve really learned to appreciate those things.