Richard Student is taking on additional responsibilities with his promotion to executive vice president, asset management/finance at United Properties.

Student previously was senior vice president of investments for the Minneapolis-based commercial real estate company owned by the Pohlad family.

In his new role, Student leads day-to-day business management for company assets and financing activities. Student's responsibilities include supervising and directing property managers and leasing agents.

He also is responsible for lease underwriting, negotiation and execution as well as the management of property capital investment.

"One of my responsibilities now will be to take a more active role in collaborating with [chief financial officer] Eric Skalland and [chief risk officer] Bruce McGrath on our banking and borrowing strategy and best practices for our debt operation within the company," Student said.

Student said he also values the opportunity to continue transferring his knowledge of the business through a growing mentorship role with team members on the financing and asset management sides of the company.

"I love working with people who want to, shall we say, increase their professional bank account," Student said.

Student joined United Properties in 1995 as an assistant vice president. He previously held financing positions at Allstate Life Insurance Co., the Balcor Co. and the Griffin Cos.

Student earned a business administration degree from Washington University and an MBA from the University of Wisconsin.

Q: What kinds of projects is the company focusing on?

A: We've been doing more development, primarily development both of office and industrial, but we've made great headway in the last five years with our Cherrywood Pointe assisted living brand and our for-sale co-op initiative. In the co-op initiative it's our Applewood Pointe brand, all independent living for age 62 and above.

Q: How would you describe the market now?

A: On the financing side, there is more capital available than projects to take care of it. … If you have a property you want to sell that's well positioned and well located, it's a great time to sell a property. … The leasing side is slower. I would say it has a lot to do with the cycle peaking.

Q: What do you like about working in commercial real estate?

A: It's a "thank you" business, it's a relationship business where you have to be analytical and thoughtful. You have to work for a company where you're able to work in an environment that allows you to be successful. Starting with the Pohlad family ownership through the leadership of [COO] Eva Stevens and [CIO] Bill Katter, we've got a great culture.

Todd Nelson