Xroads Real Estate Advisors, a national full-service real estate asset management, property management and advisory firm based in Chicago, has announced that effective immediately Kirsten Bowersox has been elevated to the role of president from chief operating officer. Suzanne Hendrick, who joined the firm in April 2024 as executive vice president, will take over from Bowersox in the role of chief operating officer.
Xroads launched in 2023, representing a new era for Crossroads Partners, the property management and brokerage group founded in 2006 by Michael Nortman, who now serves as Xroads’ chief executive officer. Xroads is leveraging a rich history serving both institutional and entrepreneurial clients across the office, medical office, retail and industrial sectors. Xroads today helps its clients to maximize value and minimize loss in a highly volatile economic environment.
Bowersox and Nortman have a long professional history, which started with Bowersox as a Crossroads client during her tenure leading the Other Real Estate Owned (REO) Group at MB Financial Bank (now a part of Fifth Third Bank). In that role she managed the disposition of more than $400 million of both legacy bank assets and assets covered under Loss Share Agreements with the FDIC. Prior to that role, Bowersox spent more than 20 years as a commercial real estate banker and construction portfolio manager with both public and private institutions such as LaSalle Bank, GMAC Commercial Mortgage and Inland Mortgage Capital Corporation.
Bowersox joined Nortman at Crossroads in 2013 as chief operating officer. Today, in her role as Xroads’ president, Bowersox will focus primarily on setting the firm’s strategic direction and building its property management and back-office accounting services portfolio. Bowersox also anticipates continuing to deliver asset management and receivership services as there is need from the market.
Hendrick has more than 30 years of experience in asset and property management, most recently serving as executive vice president of asset services operations at Transwestern Commercial Services. Hendrick has thrived at multiple high-profile stops during her long career. From 2013 to 2022, Suzanne was executive vice president and managing director of asset management for MB Real Estate (MBRE) where she was responsible for overseeing the firm’s property portfolio of 24 million square feet at its peak.
She has served a diverse client base, including private investors, government, and institutional clients such as Beacon Capital Partners, Union Investment Real Estate, CIM Group, J.P. Morgan, City of Chicago, Public Building Commission of Chicago, and Cook County. In her role as chief operating officer, she will head a talented team of property managers and accountants and oversee new firm initiatives.
After securing 25 new property assignments in 2023, Xroads’ Chicago assignment portfolio now totals 7.5 million square feet and includes office assets like 161 North Clark Street, 300 South Riverside Plaza and 540 West Madison; a large local retail portfolio; and a large national industrial portfolio.
