Steve Jacobs Named General Manager Of Ten-X Commercial

Industry veteran to guide growth strategy for Ten-X's CRE business

IRVINE, Calif. and SILICON VALLEY, Calif., March 14, 2017 /PRNewswire/ -- Ten-X, the nation's leading online real estate transaction marketplace, today announced that Steve Jacobs has been named general manager of Ten-X Commercial. Based in the firm's Irvine, Calif., headquarters, Jacobs will oversee Ten-X's commercial business, and will be responsible for expanding the offerings and services Ten-X provides to brokers, sellers and buyers.

In the coming months, Jacobs will focus on initiatives to scale the Ten-X Commercial business, including launching an enhanced version of one of Ten-X's flagship transactional platforms, Offer Select, which moves the traditional real estate transaction process online. The unique method lets brokers, buyers and sellers reap the benefits of an online marketplace, enjoying greater transparency and efficiency not offered by the traditional sales method.

"The real estate landscape is evolving rapidly, and as Ten-X Commercial expands and evolves its platform, Steve's addition as general manager will help propel us forward," said Tim Morse, CEO of Ten-X. "Steve has decades of experience in various capacities within commercial real estate, including several years as a user of our platform, providing him with the unique ability to view our offerings through the lens of a customer. This perspective, coupled with his unmatched operational skills and data-driven approach, makes Steve ideally suited to accelerate our growth and ensure an enhanced experience for our customers."

The announcement of Jacobs' appointment comes on the heels of several significant additions to the Ten-X Commercial executive team. In the second half of 2016, the firm welcomed commercial real estate veterans Camille Renshaw to head sales, and Maureen Waters to serve as chief marketing officer.

Added Morse: "With Ten-X Commercial's rapid growth, we recognized the importance of having leadership that combines functional expertise and a vision for the future of real estate. We have now assembled an incredibly talented executive team, and are strongly positioned to develop additional capabilities that will further improve the transaction process for countless commercial real estate brokers, buyers and sellers around the world."

Ten-X Commercial empowers sellers, brokers and investors to buy and sell commercial real estate online, utilizing a proven platform and data-driven marketing engine to execute transactions in record time. Leveraging desktop and mobile technology, the company brings quality assets to market via both auction and non-auction formats, attracting buyers from around the world and providing a transparent, efficient process to all deal parties. Founded in 2007, the firm's venture-capital investors include CapitalG (formerly Google Capital) and Stone Point Capital. 

"The commercial real estate industry's adoption of Ten-X over the past few years is indicative of both the limitations of traditional acquisition and disposition methods, and the success Ten-X has had blending data-driven technology with industry experience to create a powerful solution," said Jacobs. "Working hand-in-hand with the industry, Ten-X has forged a new paradigm for buying and selling real estate, accelerating the transaction process for billions of dollars of quality commercial assets. I'm honored to have the opportunity to collaborate with such a talented and passionate team of professionals to lead the charge in building upon this momentum."

Prior to joining Ten-X in 2016, Jacobs was managing director at CWCapital, where he was responsible for building, operating and managing the company's internal disposition efforts. He also served as senior managing director and partner at Rockwood Real Estate Advisors, where he oversaw asset management, advisory and client management, and was a vice president of real estate investment management at The MONY Group.

A member of the International Council of Shopping Centers (ICSC), Jacobs holds a Master of Science in Real Estate Development from Columbia University and a Bachelor of Architecture from Boston Architectural College.

About Ten-X

Ten-X is the nation's leading online real estate transaction marketplace and the parent to Ten-X Homes, Ten-X Commercial and Auction.com. To date, the company has sold 275,000+ residential and commercial properties totaling almost $46 billion. Leveraging desktop and mobile technology, Ten-X allows people to safely and easily complete real estate transactions online. Ten-X is headquartered in Irvine and Silicon Valley, Calif., and has offices in key markets nationwide. Investors in the company include CapitalG (formerly Google Capital) and Stone Point Capital. For more information, visit Ten-X.com.

SOURCE Ten-X

For further information: Shlomo Morgulis, Beckerman, smorgulis@beckermanpr.com, 201-465-8007


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