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Mortgage Observer May 2012

Mortgage Observer May 2012

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Published by: NewYorkObserver on Apr 24, 2012
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01/24/2013

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 Power Profile:
KevinCummings
How Investors Bank Will Grow,Serving Underserved 
may 2012
The InsiderMonthly Guide to New York’s Commercial Mortgage Industry 
Q&A:
 
The M.O. chats withMission Capital Advisor’s
Jordan Ray Despite Q4drop in distress,
Schechtman, Knakal andothers rack up note sale deals
Savills USA CEOJohn Lyons TalksCross- Border InvestmentStein’s Law:Pitfalls to Avoid forLoan GuarantorsMichael StolerTakes an In-Depth Look atConstruction FinancingCapstone’s Recap of Iconic 14 Wall Street
 
Columbus Square
New York, NY 500,000 SF Retail Portfolio
$280,000,000
Balance Sheet Financing
Public Square
Cleveland, OH
1,264,000 SF Ofce Property
$127,000,000
Conduit Financing
1551 Broadway 
New York, NY 
25,600 SF Retail Property
$180,000,000
Conduit Financing
Hotel Chelsea
New York, NY 
175,900 SF Hospitality Property
$85,000,000
Balance Sheet Financing
West 14th Street
New York, NY 
61,000 SF Mixed-Use
Property
 
$55,000,000
 
Balance Sheet & Mezz Financing
Recent Financing Highlights
New York Ofce
1 Battery Park Plaza26th FloorNew York, NY 10004Tel: 212-972-3600Fax: 212-612-0100
New Jersey Ofce
485 Route 1 SouthBuilding F, Suite 110Iselin, NJ 08830Tel: 732-301-3200Fax: 732-301-3299
Florida Ofce
2385 Executive Center Dr.Suite 400Boca Raton, FL 33431Tel: 561-367-0005Fax: 561-367-0099
Illinois Ofce
8170 McCormick BlvdSuite 220Skokie , IL 60076Tel: 773-439-1200Fax: 773-439-1299
Caliornia Ofce
2173 Salk Ave.Suite 250Carlsbad, CA 92008Tel: 858-964-0300Fax: 212-201-5141
Caliornia Ofce
2029 Century Park EastSuite 1400Century City, CA 90067Tel: 310-867-2300Fax: 310-867-2350
Maryland Ofce
7600 Wisconsin AvenueSuite 800Bethesda, MD 20814Tel: 240-507-1919Fax: 410-504-5748
In 2011, Meridian proudly advised on nearly 2,800 real estate
nancing transactions. Over our 20-year history, Meridian has earnedthe trust and condence of the market, becoming a leading advisor tomany of the world’s most sophisticated real estate investment rms.
Route 17 North
Paramus, NJ
125,000 SF Retail Property
$23,350,000
Balance Sheet Financing
The Berkshire
Hoboken, NJ
93-Unit Multifamily
Property
 
$33,000,000
 
Balance Sheet Financing
Steelworks Lofts
Brooklyn, NY 110,000 SF Mixed-Use Property
$28,400,000
Construction Financing
Relationship Driven. Execution Focused.
www.meridiancapital.com
 
321 West 44th Street, New York, NY 10036212.755.2400
Carl Gaines
Editor
Jotham Sederstrom
Editorial Director
Dan GeigerDaniel Edward Rosen
Sta Writers
Michael Stoler
Contributor
Sam ChandanJoshua Stein
Columnists
Barbara Ginsburg Shapiro
 Associate Publisher
Robyn Weiss
Director o Real Estate
Peter Lettre
Photo Editor
Dean Quigley 
 Art Director
Mark Stinson
Production Manager, Designer
Lauren Draper
Designer
Lisa Medchill
 Advertising Production
OBSERVER MEDIA GROUPJared Kushner
Publisher
Christopher Barnes
President
Barry Lewis
Executive Vice President
Jamie Forrest
 
 Associate Publisher, Senior Vice President
Ken Newman
 
Classifed Advertising Director
Sydney Sarachan
 
 Audience Development Manager
Mark Pasquerella
 
Controller
Kratos Vos
 
 V.P. circulation
Laurence Rabinowitz
 
General Counsel
 Arthur L. Carter
 
Founder & Editorial Director
 
May 2012
/Contents
Editor’s Letter
 
02 
News Exchange
 
04
Mortgage originations, note sales,investments, industry research
Cross-Border Investment Goes Global
At Over $60 Billion, Wells Fargo Again on Top
Ironstate Development Inks $33M Loan
1 West Street Condo Refs
Mission Markets Note
Build NYC Program Clears $90M Financing
In-Depth Look 
 
 12 
 A comprehensive take on CRE fnance trends
by Michael Stoler 
Scheme of Things
 
 14
Monthly charts o commerical real estatefnancings in the fve boroughs
Stein’s Law
 
 16 
Better Luck Next Time
 Joshua Stein
The Basis Point
 
 16 
 A Disappointing First Quater or CMBS
 Sam Chandan
Workforce
 
 18 
Hirings, promotions, deectionsand appointments
Power Profile
 
 20
Kevin Cummings: Investors Bank’s Plan For Growth
by Ian Thomas
Duly Noted
 
 24
Despite Q4 2011 drop in distress, Schechtman, Knakaland others rack up hundreds o millions o dollars in deals
by Carl Gaines
Q&A
 
 28 
Jordan Ray | Mission Capital Advisors
by Ian Thomas
The Sked: May
 
31
Our picks or the month’s must-attend events
Of Interest
 
32 
 An index o all the people, places addressesand companies mentioned in this issue
Cover Photo by Daniel M. Weiss
 29 
 
 22 4
    w    i    l    l    o    ’    h    a    r    e

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