President-elect Donald Trump continued to name his cabinet nominees at a fast pace, announcing last Friday his picks for Treasury and for Housing and Urban Development, two federal executive departments of particular importance to commercial real estate.

Wall Street hedge fund manager Scott Bessent got the nod for secretary of the Treasury. Bessent is the founder of Key Square Group and had been in stiff competition for the post with Howard Lutnick, CEO of Cantor Fitzgerald, another Wall Street investment firm. Lutnick was tapped by Trump to be secretary of Commerce. Concerns over Bessent’s candidacy were raised because of his past work for George Soros, a prominent Democratic donor. Both Bessent and Lutnick are expected to play major roles in developing the Trump administration’s tariff policies.

For the Department of Housing and Urban Development, Trump nominated Scott Turner, CEO of the Community Engagement and Opportunity Council, which is focused on community revitalization efforts. Turner had been a White House aide during Trump’s first term, heading up the White House Opportunity and Revitalization Council. Turner had also been a member of the Texas Legislature prior to heading up a community revitalization organization.