(Washington, DC)–Lars Etzkorn, Director of the DC Office of Property Management (OPM) today announced the appointment of Richard Gersten as OPM’s new Deputy Director for Portfolio Management. Gersten has 27 years experience in institutional and private real estate activities, including leasing, marketing, strategic planning, problem-related workouts, financial and asset valuation and acquisition and disposition of property.

“Rick will help the District get full value for its leased property by bringing the best practices of the real estate industry to OPM,” said Etzkorn. “He will also assist in the recruitment of experienced individuals to complement OPM’s core of skilled professionals.” 

Gersten was cofounder and managing partner of FreemanGersten Partners, LLC, a 12-year-old District commercial real estate firm. He has managed and leased a portfolio of over 4.5 million square feet, including Techworld, the Watergate, the Shirlington Gateway office building, Ballston Metro Center and numerous other properties. Most recently, Gersten represented Hewlett-Packard and United Health Care. Gersten, who began his career in Washington with Weissberg Development Corp., has mentored many individuals into successful real estate careers.

At OPM, he will develop and implement a strategic space occupancy plan modeled on the General Services Administration federal procedures for leasing, acquisition and disposition of real estate.

Gersten and his family live in the District.