Asset Management


Merrill Curtis
Vice President, Office & Industrial
Asset Management

Merrill Curtis worked for L&B from 1979 through 1989 in the accounting department and was a Divisional Controller when she left to pursue an opportunity as a client sales representative for an accounting placement service and a medical diagnostic company.

Merrill returned to L&B in 1997 in the asset management department.  She is currently a Director and responsible for eight assets with a value of $326.3 million, owned by five different clients.  She has extensive experience with office and industrial and has expanded her experience to include retail and development projects over the last several years.  Recently assigned to the L&B Medical Properties account, she is be responsible for the review and oversight of these projects.  Ms. Curtis is responsible for leading the property management and leasing teams in setting and implementing yearly property level goals.  Ms. Curtis is also involved in disposition, financing, and construction management functions as it relates to her assigned assets.

Ms. Curtis is a member of CREW, Commercial Real Estate Women.

Ms. Curtis earned a BBA degree from the University of Texas at Arlington in 1979.  She is a candidate for CCIM certification.

Tracie R. Forsythe
Executive Vice President, Retail
Asset Management

Tracie R. Forsythe joined L&B in 1988.  During her tenure with L&B, Ms. Forsythe has been responsible for the sourcing and underwriting of retail acquisitions, asset management of select retail properties, oversight of joint venture retail development, disposition of select regional malls, and consultation/valuation assignments for retail assets with an aggregate value of over $2.5 billion.  Currently, she is responsible for managing retail joint venture relationships and overseeing over $350 million of retail development projects on behalf of four separate account and fund clients.  In addition, Ms. Forsythe is a member of L&B’s Investment Committee.

Prior to joining L&B, Ms. Forsythe was an analyst with the Dallas corporate office of LaSalle Partners.  While with LaSalle, she participated in the underwriting of office, retail, hotel and multifamily assets.

Ms. Forsythe graduated from The University of Texas at Austin in 1985 with a BBA in Real Estate and Urban Land Development and a concentration in Finance.  She is currently a member of the International Council of Shopping Centers.

John L. Gerdes
Executive Vice President, Retail
Asset Management

John L. Gerdes is responsible for the management, leasing, and operations of retail properties ranging from New York to Hawaii.  Mr. Gerdes has an extensive background in real estate having served in security, operations, leasing, and management on site at shopping centers in Atlanta, Phoenix and San Antonio.  As an asset manager, Mr. Gerdes has been involved in development, re-development and supervision of  a portfolio of over 6 million square feet.

Mr. Gerdes is a Senior Certified Shopping Center Manager and a Senior Certified Leasing Specialist through the International Council of Shopping Centers (“ICSC”).  He is also a Certified Property Manager through the Institute of Real Estate Management.

He is an active member of the ICSC, currently on the CSM committee and having served as Chairman of the 2004 Fall Conference and as part of the Fusion Conference Committee.  He is a past Dean of the ICSC University of Shopping Centers School of Asset Management and General Studies.  Mr. Gerdes is currently on the ICSC Security Task Force.  He is an author and instructor for the ICSC seminars “Finance for Non-Financial People” and “Leasing for Non-Leasing People”.  Mr. Gerdes has been an international instructor for ICSC teaching in Ecuador, Peru, Argentina, Mexico, Thailand and Turkey.

Mr. Gerdes has been with the firm since 1985 coming to the corporate office in Dallas in 1996 as an asset manager.  Mr. Gerdes has a Bachelor of Science Degree from the University of Nebraska.

Carlton T. Johnson
Vice President, Multifamily
Asset Management

Mr. Johnson has more than 16 years of industry experience, comprised of portfolio and asset management, acquisitions and dispositions, structured financings, site selection / feasibility and development.  Mr. Johnson has worked in all commercial property sectors including hospitality.

Mr. Johnson heads up L&B’s multifamily asset management group.  In this role, Mr. Johnson is directly engaged in the creation and implementation of asset strategy, staff leadership, hiring and structuring of the group.  L&B’s multifamily portfolio is comprised of over 6,500 units ($2.27B GAV), including projects in various stages of development as well as stabilized assets in major metropolitan areas including Chicago, Washington, D.C., New York City and San Francisco.  In his role, Mr. Johnson also reviews new multifamily related investment opportunities.

Mr. Johnson also serves as co-portfolio manager on one of L&B’s state pension fund clients.

Prior to joining L&B, Mr. Johnson served in various capacities with Alvarez and Marsal, Clarion Partners, Behringer Harvard and JPI Partners.

Mr. Johnson received a Bachelor of Business Administration in Finance from Texas A&M University.

His current and past association involvements include The Real Estate Council, Urban Land Institute, NAIOP, the Aggie Real Estate Network, and the National Multifamily Housing Council.  Mr. Johnson also served on the Board for the Associated Producers of the Dallas Summer Musicals in 2012.

Terry McCoy
Director, Office & Industrial
Asset Management

Terry McCoy is responsible for a portfolio of eight office buildings totaling 2.9 million square feet.

Mr. McCoy joined L&B in 2009 and brings twenty years of experience in commercial real estate to the L&B team. Prior to joining L&B, Mr. McCoy was the Director of Acquisitions for Moore & Associates, a Washington, DC based developer. Mr. McCoy previously was a portfolio manager for Lincoln Property Company overseeing a portfolio of office, industrial and retail properties.

Mr. McCoy has a Masters Degree in Finance from the University of Maryland, and a Bachelors Degree from Georgetown University. Mr. McCoy is a licensed Real Estate Broker in Maryland and Virginia.

Eric R. Smith
Vice President, Office & Industrial
Asset Management

Eric R. Smith is responsible for the investment strategy and performance for $1.17 billion in office and $120 million in industrial assets.  He was previously an associate director, acquisitions, responsible for sourcing, analyzing, and closing property acquisitions for the east coast of the United States.  While in that capacity, he closed $118 million in acquisitions and $160 million in office dispositions.

Mr. Smith joined L&B in 2000 as an acquisition analyst responsible for sourcing and analyzing investment opportunities, handling property dispositions, and providing analytical support for special projects on behalf of a non-discretionary separate account client.

Prior to joining L&B, Mr. Smith was a founding member and managing principal of Humphrey & Smith, L.L.C., a commercial real estate appraisal firm in Fort Walton Beach, Florida.  He served as Vice President of the Board of Directors for the Boys and Girls Club of Northwest Florida and was appointed a member on the Board of Adjustment for the City of Destin, Florida.

Mr. Smith holds a Bachelor of Science degree in Business Administration from the University of Central Florida (1994).

Terry A. Wilson
Vice President, Retail
Asset Management

Terry A. Wilson joined L&B Realty Advisors in 2013. For nearly 30 years, Terry has worked with domestic and international real estate investors. His background includes investment advisory, leasing and operational experience, the last two decades in various senior positions working with institutional investors via separate accounts and commingled funds.

As an industry veteran, Terry has worked with investors and joint venture partners in the acquisition, management and disposition of geographically diverse portfolios with risk profiles ranging from core to opportunistic. Terry worked for LaSalle Investment Management for 20 years where he was a portfolio manager for various separate account client mandates which included a variety of property types from regional malls and open-air retail centers, CBD and suburban office buildings to industrial properties. His responsibilities included client and joint venture relationship management, asset selection, working with the acquisition teams to underwrite new investments, strategic planning, management of capital structures/leverage, and leadership of asset management teams responsible for executing investment/business plans, dispositions, and major litigation oversight. In addition, he was the firm’s retail specialty practice leader as Director of U.S. Retail Investment Management.

Mr. Wilson earned his BS degree from the University of Alabama with a major in Real Estate. He is a licensed Texas Real Estate Broker and holds the Certified Shopping Center (CSM) designation.