Linda Foggie Exits Citi, Joins Board of Proptech Firm OfficeSpace Software
Foggie spent the last two years at Citigroup as the bank’s global head of real estate operations
By Brian Pascus February 28, 2024 8:00 am
reprints
Linda Foggie is on the move.
Foggie, who served as Citigroup (C)’s managing director and global head of real estate operations since November 2021, left the megabank in December and will announce her next role soon.
In the meantime, the industry veteran has joined the board of OfficeSpace Software, a proptech firm that specializes in workplace software management, effective Feb. 28, Commercial Observer has learned.
OfficeSpace Software is owned by Vista Equity Partners, a private equity group with $101 billion assets under management and more than 85 companies under its portfolio. Bessie Watts, vice president, head of the External Board of Directors Program, served as the principal recruiter for Foggie to join OfficeSpace’s board.
Vista Equity Partners used its external board program, an initiative launched in 2017 aimed at sourcing qualified and diverse board candidates for the firm’s various portfolio companies, in its recruitment of Foggie. Roughly 96 percent of Vista Equity Partners’ company-owned boards have at least one woman on their boards and 100 percent hold at least one person of color.
Foggie told CO that her previous role overseeing Citi’s global real estate portfolio routinely put her at the nexus of the integration between technology and property management, specifically her focus on Citi’s global data center portfolio.
“Real estate is a sector that is not always the first mover when it comes to technology, so this integration that’s starting to happen is a really important precipice that we’re at,” she said. “I’m excited to be at the cutting edge of commercial real estate and technology. OfficeSpace Software is a leading product, a really smart product, and now they’re starting to integrate AI into it.”
OfficeSpace Software’s AI-based tech system prioritizes office booking, room booking, and finding the best possible office space layouts for tenants and sponsors. The firm marries office space utilization with AI technology, giving sponsors and CEOs carefully collated data on how their workspaces are being used on a daily basis.
“It helps a company optimize their portfolio based on the way their real estate is used,” explained Foggie. “It really does help drive out costs from the portfolio.”
Foggie said that the scale and depth of her portfolio at Citi — which included all the commercial real estate space the bank occupies globally in nearly 100 countries, as well as individual branches and data centers — has provided her with a unique understanding in the ways CRE space is being adapted to recent technological innovations.
Her particular focus as a board member will be on integrating technology across functions to streamline tenant experience, she said.
“My time at Citi allowed me to have a front seat in how the functions of real estate come together holistically to create a better experience for our bank and its customers,” said Foggie. “I think my role on this board is to provide the voice of the customer and give domain expertise.”
Erin Mulligan Helgren, CEO of OfficeSpace, said in a statement that her firm is “fortunate” to have Foggie join its board at a time when commercial real estate is becoming increasingly intertwined with the tech sphere.
“Her visionary leadership has helped transform organizations and communities, and we’re thrilled to leverage her experience developing human-centered design and development strategies that create value for organizations and employees alike,” said Mulligan Helgren.
Prior to joining Citi, Foggie served as an executive vice president at turner & townsend, a vice president at Wells Fargo (WFC), and director of project management at CBRE (CBRE).
Brian Pascus can be reached at bpascus@commercialobserver.com
