CJM Associates, Inc.
Commercial Investment Real Estate Brokerage, Advisory and Global Real Estate

Major Bank - Consulting and Brokerage
I am delighted to have this opportunity to comment on one of the most talented and respected real estate professionals I have the privilege of working with.

 While Ms. Ma provided sales and lease brokerage services for a number of clients I represented on behalf of a corporate fiduciary, several of her most helpful services were consulting assignments we hired her for on behalf of various private trusts.

 One project …… (Our bank) hired Ms. Ma’s firm to advise us on the current market conditions, (etc.)  In the end her work helped us achieve significant benefits to both the income beneficiaries and future remainderheir, whose special needs will be supported by the trust.

 In another account, she was retained to prepare an analysis on a potential 1031 exchange after the sale of an industrial building…… In this assignment we needed to determine the advantages and disadvantages of reinvesting in like-kind real estate, or liquid assets after payment of capital gains.  A major component of this project was to know what trust quality investments (very conservative criteria) were, or anticipated being, available within the exchange times lines….

 Another example of her (CJM Associates, Inc.) consulting services was to review and report on several older ground leases between a trust and national fast food chain for facilities in …… Ms. Ma’s thorough research of rental rates, percentage provisions and other terms once again provided the trustee and its attorney the evidence to negotiate new lease contracts that were fair to both sides and ensured a long term, stable income stream (now with the some cost of living protection) for the trust.

 ………Her work consistently exceeded the high level of expectation corporate fiduciaries require, and allowed the account administrators and oversight committees to proceed with informed investment decisions that not only enhanced the asset’s value, but satisfied the account’s investment objectives to both income and remainderman level beneficiaries.

 In conclusion my experience with all of Carmela Ma’s services, ….allows me to confidently recommend her…. I can also assure you that Ms. Ma will be a valuable ….. not only in the contribution of her talents, but in the dignity of her personal and professional conduct.


Major bank executive USA


Major Financial Institution – Brokerage & Advisory

 …..I was responsible for one of the largest and most difficult real estate portfolios in the banking industry.  I was successful in my field but, admittedly, only because I had the foresight to retain Ms. Ma (CJM Associates, Inc.) for her intelligent and creative counseling.  She is truly a “Brokers’ Broker”!

 I have retained Ms. Carmela Ma’s services on a multitude of projects over the past ten years.  Time and space being limited…..I will recount a few of the most challenging projects….

 The …..contained several retail/office properties within the same city but several blocks apart ….so we fell victim to a stalemate.  I retained Ms. Ma to evaluate the situation with little hope that she would be successful.  To my surprise, she was able to devise a complicated and ingenious plan to acquire land a block away and tie it to the subject properties via deed.  She worked with the City to obtain their agreement ….She continued her quest to resolve the problem and, after conferring with numerous specialists and environmental consultants, created a plan that ultimately was approved by the city, bank committee and beneficiaries.

 ….presented the biggest challenge in my 30 year career in real estate.  We inherited a 10 acre industrial property in which one-half of it was in the county and the remainder within the city limits.  It contained an obsolete office building, an abandoned restaurant and a large group of buildings serving a multiple of high-risk tenants.  In addition, the property contained over 40 easements, an abandoned and contaminated well.  Power lines with unreasonably strict restrictions affecting nearly one-third of the total acreage. ….. I retained Ms. Carmela Ma to ….. I am happy to report that Ms. Ma’s …led to successful redevelopment of the property …..

 (Another property) …I retained Ms. Ma (CJM Associates, Inc.)….again we gained substantial value due to the professional and in-depth recommendations of Ms. Ma; realizing, of course, that without Ms. Ma’s high integrity, we could have sold the property through her at a cost of a sizeable commission and the (account) would have forfeited the appreciation they enjoy to this day.

 Other prime examples involve numerous (fiduciary accounts) wherein Ms. Ma’s advice has led to the sale, retention, remediation, reorganization and redevelopment of various types of real estate, including but not limited to office, industrial, retail and multi-family. These (fiduciary accounts) gained increased income streams, improved property values and a pride of ownership that has touched not only me as the trust representative but the Bank as a Trustee and each of the trustors and /or beneficiaries.

 ….was so impressed with the 100% success rate of Ms. Ms’s (brokerage, 1031 exchanges and ) counseling duties that they retained her as a keynote speaker for special events established for the benefit of their high- income private client customers, bank officials, legal counsel and employees.  I am very happy to have had the privilege of being affiliated with Ms. Ma during my reign at (…Bank) and am proud of our many successes.

 Trustors, beneficiaries, banks, cities and I have greatly benefited by Ms. Ma’s knowledge, integrity, competence and service.  Her judgment is well trained and her reputation unsurpassed. 

 Major bank executive USA


Major Bank - Advisory
….Ms. Ma was referred to me by our Department Head,  Mr. …,

We utilized Ms. Ma (CJM Associates, Inc.’s) services………. to assist the Co-Trustees of a large Trust make a decision related to a commercial real estate asset within the Trust.  Ms. Ma provided a written report detailing an estimate of different outcomes based on various alternative actions, i.e. hold and do nothing, hold and refinance, sale, sale and purchase another property, 1031 exchange, renovate and convert existing building, demolish and build new building, etc.  She also met with the Co-Trustees to provide a verbal presentation and respond to questions related to the various alternatives and repercussions of possible decisions.  Needless to say, I would not hesitate to recommend her and use her service again.

 Major bank executive USA


Teaching Commercial Real Estate

Carmela Ma is simply one of the major world-class instructors of Commercial Real Estate. It has been my honor and pleasure to have attended one of her marvelous sessions. The vista of her knowledge and her kind-heartedness knows no bounds. I can only say thank you Carmela for your wisdom and understanding of an extremely difficult field. You are an inspiration and a gracious lady who has made a real mark on Commercial Real Estate. I commend her to all who would seek expertise and enlightenment.


Jonathan Taylor




Taylor Properties



“…given your presentation on Diversity in Portland yesterday.  As with your CIPS courses in Honolulu 2003, I found your presentation both riveting and enlightening.

Thank you.”

Paul Tuttle

NAR Director

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CJM Associates, Inc.


433 North Camden Drive, 6/F,


Beverly Hills, CA 90210, USA


Tel: 1-310-838-8333 Direct - Carmela Ma, CCIM, CIPS, RICS


Tel: 1-310-277-8808 General Office










Fax: 1-310-280-0933


e-mail: Carmela@CarmelaMa.com











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