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CEO of ShopCore and LivCor visits Real Estate Club

Posted By Paige Riemann, Wednesday, November 13, 2019

 

 


 

On November 7, 2019, the Real Estate Club hosted Luke Petherbridge, Chief Executive Officer of ShopCore and LivCor.  Mr. Petherbridge spoke to the Club about his companies' extensive portfolios in retail and apartments.  He also shared career and personal life lessons he has learned along the way. 

 

Mr. Petherbridge began his career with ShopCore in May of 2016 as President and Chief Executive Officer. Currently, their portfolio includes 20 million square feet of retail, consisting of best-in-class open-air retailers concentrated in densely populated sub-markets. In addition to ShopCore, he became the President and Chief Executive Officer of LivCor in July of 2019.  LivCor has a portfolio of 68,000 apartment units. Both ShopCore and LivCor are affiliates of The Blackstone Group. 

 

Dmitry Lyamichev (BBA 2005) from ShopCore joined Mr. Petherbridge to moderate a fireside chat discussion which included professional and personal advice. Mr. Petherbridge discussed the importance of working for a strong but tough leader. He suggested that students look for leaders that will challenge them when considering job opportunities. Speaking from experience, he said that it might not be fun at the time, but in the end, it will push you to accomplish things you didn’t know you could do. Additionally, he discussed the importance of recognizing and seizing an opportunity. Mr. Petherbridge himself moved from Australia to Cleveland, Ohio and shared his firsthand knowledge of the difficulties and benefits of making big life changes to seize opportunities. 

 

As the Chief Executive Officer of two firms, Mr. Petherbridge brought a unique perspective to the students. When asked what challenged him the most in his career, he said that one of the toughest things about moving up to senior leadership positions is letting go of the tasks that you enjoy.  He said that it becomes much easier to delegate to others if you surround yourself with smart and hardworking people. Additionally, he discussed the importance of a work-life-balance and shared that it is something that he still finds difficult. One goal he pursues in this area is to be 100% present when he is at home to make his time there more meaningful. He also made small tweaks to his schedule to carve out more time at home. For example, when traveling for work, he flies back late at night, as opposed to flying back the next day, so he is at home and awake in the morning to spend time with his family.

 

Mr. Petherbridge spoke to the Real Estate Club last year. In fact, his presentation inspired Caitlin Tirakian, a current senior in the real estate program. She explained that “Luke’s presentation last year was what inspired me to pursue an internship at ShopCore Properties and I hope his presentation on Thursday encouraged other students to do the same. Luke is one of the most engaging, motivating and passionate people I have ever had the pleasure to know. We don’t always realize how lucky we are to have this exposure to leaders of the industry at the undergraduate level. Thanks to the alumni who have generously given their time and the Real Estate Club for providing the opportunities!”

 

Thank you to Mr. Petherbridge for speaking at the Real Estate Club and Mr. Lyamichev for leading the discussion. Students appreciated the opportunity to learn more about the retail and residential sectors and gained insight from the lessons shared.  The Club is looking forward to their next meeting on December 5 when it will determine the executive board for next semester. They will also tour the new Fiserv Forum in Milwaukee, Wisconsin on December 6.

 

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