APRIL 5, 2017 REAL ESTATE The 50 Most Important Figures of … Observer... · estate debt loans...
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By The Editors W as it a sweet ‘16? Only for some of the industry’s powerhouses. Most banks saw a decrease in lending activity last year, as did some of the larger institutional private funds. It was, un- doubtedly, the year of the alternative lenders, who filled the construction and transitional debt void nicely, upping their originations significantly on the way. Life companies didn’t fall far behind and, in several cases, outperformed their 2015 figures. That said, we added a few private lenders to our rankings, like Mesa West Capital at No. 40 and Mack Credit Real Estate Strate- gies at No. 49. A bigtime U.K. hedge fund even earned an honorable mention. ACORE Capital, which was founded in May 2015, jumped up to the No. 10 spot from No. 39 last year, very much due to its tremendous growth in the bridge-lending space. And one notable addition was Bank of the Ozarks. The Little Rock bank that could was exceptionally active on the construction lending front and scored the No. 31 spot. Janet Yellen—who had landed the No. 20 spot on our list last year as the fate of interest rates were uncertain—still yields a huge amount of power over the financial markets, but almost all of the lenders Com- mercial Observer spoke with now expect a couple of more quarter-point rate hikes and have baked those changes into their underwriting. If anything, industry experts see interest rate increases as an indication of economic growth (and for some, a way to increase pricing). Now, under the Trump administration, there are new faces (one who also happens to have produced a number of Hollywood films) who stand a greater chance at dictating what happens in the financial markets. —Danielle Balbi and Cathy Cunningham APRIL 5, 2017 REAL ESTATE The 50 Most Important Figures of Commercial Real Estate Finance
Transcript of APRIL 5, 2017 REAL ESTATE The 50 Most Important Figures of … Observer... · estate debt loans...
By The Editors
Was it a sweet ‘16? Only for some of the industry’s powerhouses.
Most banks saw a decrease in lending activity last year, as did some of the larger institutional private funds. It was, un-doubtedly, the year of the alternative lenders, who filled the construction and transitional debt void nicely, upping their originations significantly on the way. Life companies didn’t fall far behind and, in several cases, outperformed their 2015 figures.
That said, we added a few private lenders to our rankings, like Mesa West Capital at
No. 40 and Mack Credit Real Estate Strate-gies at No. 49. A bigtime U.K. hedge fund even earned an honorable mention. ACORE Capital, which was founded in May 2015, jumped up to the No. 10 spot from No. 39 last year, very much due to its tremendous growth in the bridge-lending space.
And one notable addition was Bank of the Ozarks. The Little Rock bank that could was exceptionally active on the construction lending front and scored the No. 31 spot.
Janet Yellen—who had landed the No. 20 spot on our list last year as the fate of interest rates were uncertain—still yields a huge amount of power over the financial
markets, but almost all of the lenders Com-mercial Observer spoke with now expect a couple of more quarter-point rate hikes and have baked those changes into their underwriting. If anything, industry experts see interest rate increases as an indication of economic growth (and for some, a way to increase pricing).
Now, under the Trump administration, there are new faces (one who also happens to have produced a number of Hollywood films) who stand a greater chance at dictating what happens in the financial markets.
—Danielle Balbi and Cathy Cunningham
APRIL 5, 2017 REAL ESTATE
The 50 Most Important Figuresof Commercial Real Estate Finance
COMMERCIAL OBSERVER APRIL 5, 2017
By The Editors
The name may still be new, but the team is not.
In 2016—its first full year of busi-ness—ACORE was the second largest lender of transitional debt in the country, Boyd Fellows said.
And the numbers certainly add up. The pri-vate lender, which was launched by Warren de Haan, Fellows, Chris Tokarski and Stew Ward, provided $5 billion in commercial real estate debt loans across the United States, putting it second to Blackstone Group when it came to bridge lending.
Despite the volume, ACORE was extremely selective, and for every 20 deals that come across its desks, the firm may only lend on one. The company completed 70 transactions last year, making its average deal size just in excess of $70 million.
In September 2016, ACORE teamed up with Vanbarton Group and provided a $105 million debt package for Shorewood Real Estate Group’s mixed-use development at 17 John Street in the Financial District. In March of last year, the company made a $105 million construction loan against AECOM Capital and Ensemble Real Estate Invest-ment’s 11-story hotel at 100 Independence
Drive in Silicon Valley.“In 2015 we were introducing ourselves to
the market and getting our brand estab-lished,” Fellows said. “By the time 2016 began, our brand had become very widely known in the real estate community, so we executed on [deals] like we always do.”
If 2016 was only the start for ACORE, 2017 may have even more in store.—D.B.
Warren deHaan
ChrisTokarski
10Warren de Haan,Boyd Fellows,Chris Tokarski and Stew WardManaging Partnersat ACORE CapitalLast Year’s Rank: 39
The 50 Most Important Figuresof Commercial Real Estate Finance
Stew WardBoydFellows
Rank Name(s) Title(s) Last Year’s Rank
1 Raymond Qiao Chief Lending Officer at Bank of China 3
2 Alan Wiener Group Head of Wells Fargo Multifamily 1
3 Matt Borstein and Ed Adler
Head of Global Commercial Real Estate; Head of U.S. Origination at Deutsche Bank 9
4 Michael Nash, Stephen Plavin, Jonathan Pollack
and Tim Johnson
Co-Founder and Chairman of Blackstone Real Estate Debt Strategies; CEOof Blackstone Mortgage Trust; Global Head of Blackstone Real Estate DebtStrategies; Senior Managing Director at Blackstone Real Estate Debt Strategies
2
5 Steven Mnuchin U.S. Secretary of the Treasury N/A
6 Ralph Herzka and Aaron Birnbaum
Chairman and CEO; Executive Vice President at Meridian Capital Group 4
7 George Klett Chairman of the Commercial Real Estate Committee at Signature Bank 8
8 James Carpenter andJohn Adams
Senior Executive Vice President and Chief Lending Officer; First SeniorVice President, Chief Administrative and Senior Lending Officer at New York Community Bank
7
9 Brian Baker Global Head of Commercial Mortgages at J.P. Morgan Securities 10
10 Warren de Haan, Boyd Fellows, Chris Tokarski
and Stew Ward
Managing Partners at ACORE Capital 39
11 Doug Mazer andKara McShane
Head of Real Estate Capital Markets; Head of Commercial Real Estate Capital Markets and Finance at Wells Fargo
13
12 Paul Vanderslice, Joseph Dyckman and
David Bouton
Co-Heads of U.S. CMBS at Citigroup 19
13 James Flaum Global Head of Commercial Real Estate Lending at Morgan Stanley 18
14 Jeff DiModica andDennis Schuh
President; Chief Originations Officer at Starwood Property Trust 17
15 Roy March CEO at Eastdil Secured 5
16 Robert Merck andGary Otten
Head of Real Estate and Agricultural Finance; Head of Real Estate Debt Strategies at MetLife
11
17 David Durning andMarcia Diaz
President and CEO; Global Head of Originations at PGIM Real Estate Finance 26
18 Chad Tredway andGreg Reimers
Head of Commercial Term Lending East; Real Estate Banking Northeast Market Manager at J.P. Morgan Chase
23
19 Gino Martocci and Peter D’Arcy
Co-Head of Commercial Banking; President of New York City and Long Island and Head of Commercial Real Estate Segment at M&T Bank
12
20 Steve Kenny andBrad Dubeck
East Region Real Estate Executive; Commercial Real Estate Banking Executive for New York and New Jersey at Bank of America Merrill Lynch
6
Rank Name(s) Title(s) Last Year’s Rank
21 David Schonbraun Co-Chief Investment Officer at SL Green Realty Corp. 15
22 David Lehman Global Head of Real Estate Finance at Goldman Sachs 16
23 Jeff Fastov Senior Managing Director at Square Mile Capital Management 30
24 David Brickman and John Cannon
Head of Multifamily Business; Senior Vice President of Multifamily Production and Sales at Freddie Mac
22
25 Michele Evans andJeffery Hayward
Senior Vice President and COO of Multifamily; Executive Vice President of Multifamily at Fannie Mae
21
26 Aaron Appel, Keith Kurland, Jonathan
Schwartz and Dustin Stolly
Managing Directors at JLL Capital Markets 25
27 Jerome Sanzo Head of Real Estate Finance at Industrial and Commercial Bank of China (ICBC) 28
28 Robert Verrone and Christopher Herron
Principal; Managing Director at Iron Hound Management Company 29
29 Rick Lyon andBenjamin Stacks
Executive Vice President and Head of Commercial Real Estate; Northeast Market Manager at Capital One
36
30 Andrew Farkas Founder, Managing Member, Chairman and CEO of Island Capital Group N/A
31 Dan Thomas andRichard Smith
Vice Chairman and Chief Lending Officer and President of Real EstateSpecialties Group; Executive Vice President and Northeast Manager of Real Estate Specialties Group at Bank of the Ozarks
N/A
32 Mark Talgo Senior Managing Director and Head of New York Life Real Estate Investors 35
33 Stephen Rosenberg and Richard Bassuk
Founder and CEO of Greystone; Co-Chairman and CEO of The Greystone Bassuk Group
N/A
34 Christopher LaBianca Head of Originations at UBS 41
35 Michael Lehrman and Anthony Orso
Co-CEOs and Co-Founders of CCRE 14
36 Gregg Gerken andRoy Chin
Head of U.S. Commercial Real Estate Lending; New York Metro Area Regional Director for Commercial Real Estate at TD Bank
33
37 Gary Magnuson and Patrick Burns
Head of Commercial Real Estate Finance; Managing Director of Institutional Real Estate at Citizens Bank
45
38 Simon Ziff, Patrick Hanlon and Russell
Schildkraut
President; Principal; Principal of Ackman-Ziff 37
39 Larry Kravetz Head of CMBS Finance at Barclays Capital 27
40 Jeff Friedman and Mark Zytko
Co-Founders and Principals of Mesa West Capital N/A
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Rank Name(s) Title(s) Last Year’s Rank
41 Steven Kohn, Gideon Gil, Alex Hernandez
and Dave Karson
President of Equity, Debt & Structured Finance; Senior Managing Director; Senior Managing Director; Executive Managing Director at Cushman & Wakefield
42
42 Greg Murphy Head of Real Estate Finance Americas at Natixis Real Estate Capital 31
43 Matt Galligan President of CIT Real Estate Finance 34
44 Brian Harris andMichael Mazzei
Co-Founder and CEO; President of Ladder Capital 48
45 Shawn Rosenthal and Michael Riccio
Executive Vice President; Co-Head of Production at CBRE Capital Markets N/A
46 Greta Guggenheim CEO of TPG Real Estate Finance Trust 24
47 Ivan Kaufman Chairman, President and CEO of Arbor Realty Trust N/A
48 Willy Walker Chairman and CEO of Walker & Dunlop 46
49 Richard Mack andPeter Sotoloff
CEO; CIO and Managing Partner at Mack Real Estate Credit Strategies N/A
50 Matthew Masso Head of Commercial Real Estate Finance at Credit Suisse N/A
HM Sir Chris Hohn Founder of The Children’s Investment Fund Management N/A
