Joel Marcus, Alexandria Real Estate Equities
Standing at number 10, Alexandria Real Estate Equities' Joel Marcus received approximately $11.0 million in option-adjusted compensation and $1.08 million in cash equivalent compensation in 2014.
James Mastandrea, Whitestone REIT
James Mastandrea, of Whitestone REIT, received $11.7 million in option-adjusted compensation last year, and $414,212 in cash equivalent compensation. But even though his spot in the overall ranking is at number nine, Mastandrea benefited from the biggest year-over-year increase in option-adjusted compensation: 494 percent, according to SNL.
Lauralee Martin, HCP Inc.
Lauralee Martin, CEO of HCP Inc. and the only woman on the top 10 list, was paid roughly $12.5 million in option-adjusted compensation and $832,832 in cash equivalent compensation.
James Taiclet Jr., American Tower Corp.
American Tower Corp.'s James Taiclet Jr. received $12.7 million in option-adjusted compensation and $1.1 million in cash equivalent compensation.
Arthur Coppola, Macerich
Macerich's Arthur Coppola took home $14.2 million in option-adjusted pay and $1.2 million in cash-equivalent pay in 2014.
David Simon, Simon Property Group
Coming in at number 5, Simon Property Group's David Simon received $14.7 million in option-adjusted compensation and about $1.3 million in cash equivalent compensation.
Marc Holliday, SL Green Realty
Marc Holliday, of SL Green Realty, ended up with $16.4 million in option-adjusted compensation and almost $1.1 million in cash equivalent compensation last year.
Hamid Moghadam, Prologis Inc.
Prologis' Hamid Moghadam made the top three ranking, with $16.5 million in option-adjusted compensation and $2.8 million in cash equivalent compensation.
Mitchell Hersh, Mack-Cali Realty Corp.
Mitchell Hersh, of Mack-Cali Realty, also did well for himself, with $17.6 million in option-adjusted compensation. That number was identical to the cash equivalent compensation figure SNL cited for him. Year-over-year, Hersh's compensation increased 324 percent.
Peter Carlino, Gaming & Leisure Properties
So who was at the very top of the compensation pyramid last year? Gaming & Leisure's Peter Carlino, whose firm struck a deal to buy Pinnacle Entertainment's real estate holdings this week. Carlino received $20.6 million in option-adjusted compensation and $11.6 million in cash equivalent compensation in 2014. In option-adjusted terms, his compensation grew a healthy 157 percent between 2013 and 2014, according to SNL estimates.