Karen Smyack

Karen Smyack, Research and Due Dilligence
In her 25 years experience in the commercial real estate industry, Ms. Smyack has been responsible for all aspect of commercial real estate. Over the past couple of years, Ms. Smyack has personally handled just over $2 billion in development, acquisition, disposition and financing due diligence for industrial, office, retail, multi-family and mixed-use projects throughout the U.S. Her clients have included real estate investment trusts, private real estate funds, and individuals requiring due diligence, underwriting, budgeting and closing services to meet their development, acquisition, disposition and financing requirements. Her clients have included Carl DeSantis (CDS International Holdings & Parkview Realty), Cawley Partners LLC, Heitman, NYLIM, Crocker Partners LLC (previously CRT Properties Inc. & Koger Equity, Inc.), DRA Advisors LLC, Sterling Centrecorp and Colonial Properties Trust to name a few.

Ms. Smyack was previously a Director with CRT Properties (f/k/a Crocker Partners & Koger Equities), a private real estate investment trust. She was initially charged with the creation of the Due Diligence Department in response to the formation of various real estate funds led by Thomas J. Crocker & Apollo Real Estate Advisors. She was responsible for all company-wide due diligence, underwriting, closing and turnover to asset management for more than 22 million square feet of office and mixed-use real estate throughout the Southeastern U.S. During her tenure, the various CRT funds had a combined market value of $3.7 billion. Prior to CRT Properties, Ms. Smyack was a Senior Acquisitions Associate with MIG Realty Advisors, Inc., a private real estate investment trust and pension fund advisor. She was responsible for overseeing the acquisition underwriting, due diligence and closing process for over $500 million in multi-family properties throughout the U.S. Clients included various pension funds in New York, California, Florida and Wisconsin.

Prior to MIG, she was with Equitable Real Estate Investment Management, Inc. in Seattle, Washington. In her position as Assistant Director and Resolution Trust Officer, she was charged with managing a $300 million commercial mortgage portfolio, which included responsibility for all loan workouts and receivership for properties in the Pacific Northwest, Canada and Alaska. Aside from her due diligence activities, she was part of a team responsible for pension fund valuations per appraisal institute standards, acquisition, disposition and asset management for an 8 million square foot industrial, office and retail portfolio totaling over $1.5 billion in the Pacific Northwest. Clients included CALSTRS, CALPERS, NYSTRS, Westinghouse, IBM and The Equitable General Account.

Ms. Smyack is involved in several national commercial real estate groups including CREW National Network and the Board of Directors of CREW – Ft. Lauderdale/Palm Beach (Commercial Real Estate Women Network). She is also a long time member of Executive Women of the Palm Beaches.

  • City University, Seattle, Washington 1987 – 1990
    • Business Administration & Communications

Appraisal-related courses:
The Appraisal Institute:

  • Standards for Professional Practice
  • Appraisal Principles
  • Appraisal Procedures
  • Income Capitalization (Course A)
  • Income Capitalization (Course B)
  • Report Writing

Mortgage Bankers Association of America

  • Income Property Finance & Underwriting
  • Mortgage Servicing & Workouts

Gold Coast School of Real Estate

  • Real Estate P & P 1 – Real Estate Sales Associate License
  • Real Estate Post Licensing Salesperson
  • Real Estate CAM Course

Equitable Real Estate Investment Management Training Program (1987 to 1990)

  • Cross training in all departments to develop a well-rounded understanding of all aspects of the commercial real estate and investment management process.
  • Included responsibility for Accounting, Finance, Asset & Property Management, Leasing, Mortgage Origination, Servicing & Workouts, Acquisitions, Dispositions, Underwriting, Appraisal & Regional Office Management.


  • 8/07 to Present
    • Researcher
      • AMH Appraisal Consultants, Inc.
      • Fort Lauderdale, FL
  • 10/05 to Present
    • President – Director
      • Acquisition, Disposition & Finance Due Diligence
      • Smyack & Associates LLC
      • West Palm Beach, Florida
  • 11/97 to 10/05
    • Director – Due Diligence & Underwriting
      • Acquisitions, Dispositions & Finance
      • Crocker Partners aka CRT Properties & Koger Equities
      • Boca Raton, Florida
  • 4/95 to 11/97
    • Senior Acquisitions Associate
      • MIG Realty Advisors
      • West Palm Beach, Florida
  • 6/86 to 1/95
    • Assistant Director & Resolution Trust Officer
      • Equitable Real Estate Investment Management, Inc.
      • f/k/a The Equitable & Equitable Life Insurance
      • Seattle, Washington

Professional Affiliations

  • Commercial Real Estate Women (CREW), Fort Lauderdale/Palm Beach
    • Member (1995-Present)
    • 1995 Member Benefits & Newsletter
    • 1996 Vice President & National Network Delegate
    • 1997 Membership & National Network Delegate
    • 1998 Programs & National Network Delegate
    • 2001 Chapter President, Regional Conference Chair & National Network Delegate
    • 2002 Immediate Past President & National Network Delegate
    • 2005 Chapter President & National Network Delegate
    • 2006 Immediate Past President, Membership & National Network Delegate
    • 2007 Membership & National Network Delegate
    • 2007 2008 Community Service & CREW Scholarship
    • Served on the CREW National Network Committees overseeing national board nominations, sponsorship, national awards recognition for commercial real estate transactions completed by members of the organization.
  • Commercial Real Estate Women (CREW) – Pacific Northwest (Seattle)
    • Member (1986-1995)
    • Vice President – Programs (1994)
    • CREW Network National Convention Committee (Miami 1995)
    • CREW Network National Convention Committee (Seattle 1996)
  • Executive Women of the Palm Beaches (1997 to present)
  • NAWBO – National Association of Women Business Owners
  • VISTA Award of Excellence – Vision in Service to Associations (1999)


  • State of Florida Broker/Salesman License – Inactive