SUMMARY
Senior real estate and financial executive with extensive base of experience in real estate investment, financing, management, and disposition. Seeking senior executive position in real estate equity or fixed income investment entity after most recent employer went through voluntary liquidation.
Relevant experience:
Venture Formation Structured Finance Financing
Project Management Capital Markets Investments Complex Documentation
Acquisitions & Sales Credit & Portfolio Management Workout Strategies
EXPERIENCE
WELLSFORD REAL PROPERTIES, INC., New York, NY 1997 - 2006
Publicly traded real estate merchant bank whose assets under management peaked at $3.5 billion.
Vice President and Managing Director
Reported to CEO. Led and managed team in equity (including office, industrial, retail, single family properties) and fixed income (including structured finance, mezzanine loans, CMBS) investments.
• Managed distressed seven building 750,000 sq ft portfolio of office, industrial and retail properties:
o Sold individual properties for aggregate $44 million resulting in $5 million profit over book value;
o Successfully dealt with issues such as environmental contamination remediation, building code compliance, property renovation and upgrades, and lease-up of high vacancies.
• Acquired and managed single family residential development projects totaling over 520 acres zoned for 255 units:
o Structured debt and equity capitalization totaling $42 million;
o Structured developer joint venture;
o Oversaw planning and approval process, site plan development and environmental contamination remediation;
o Prepared public offering statement.
• Transacted multiple mezzanine loans ranging in size from $5 million to $34 million with underlying property and collateral consisting of office, industrial, residential condominiums, and REIT operating partnership units:
o Unleveraged IRR yields ranged from 15% to 28%;
o Worked out and restructured $34 million construction loan resulting in 15% unleveraged IRR.
• Structured and managed 51% joint venture investment in ABS and CMBS.
o Portfolio peaked at $2.8 billion;
o Venture capitalization of $50 million equity and credit enhanced subordinated debt of $150 million;
o Led team which underwrote and managed $700 million CMBS investments.
• Oversaw acquisition of $17 million participation in distressed bank loan on 200,000 square foot office building resulting in 15% unleveraged IRR.
MANSFIELD PARTNERS, INC., Darien, CT 1992 to 1997
Private real estate consulting and advisory company.
Founding Partner
• Conducted transactional advisory assignment for acquirer of 200,000 square foot mixed use retail and office property generating fees totaling $825,000;
• Conducted various consulting assignments for public and private real estate companies, including investment joint venture structuring, business plan development, research and investment analysis;
• Identified and underwrote investment opportunities in office and industrial portfolios totaling more than 11 million square feet on behalf of ventures with opportunity funds, institutional investors and wealthy individuals.
BANQUE INDOSUEZ, New York, NY 1989 to 1992
$70 billion merchant bank based in Paris, France, now part of Credit Agricole.
Senior Vice President and Manager, U.S. Real Estate Group
• Led team of ten professionals responsible for all North American real estate investment and advisory activities.
o Managed and liquidated three offshore equity investment funds with diverse portfolio of over 1.5 million square feet of office, retail and industrial properties located in the US;
o Acquired 1,000,000 square foot downtown Manhattan office building on behalf of far eastern private banking client;
o Managed US loan portfolio totaling $500 million, including annual origination of $100 million;
o Chaired the North American Real Estate Credit Committee.
CRI INSTITUTIONAL REAL ESTATE, INC., Stamford, CT 1987 to 1989
Institutional investment advisory subsidiary of CRI, Inc.
President
• Established and registered real estate institutional advisory company focused on multifamily investments;
• Structured institutional multifamily commingled investment fund.
PRUDENTIAL BACHE SECURITIES, INC., New York, NY 1984 to 1987
Investment banking and brokerage subsidiary of Prudential Insurance Company.
Managing Director
Senior banker in corporate finance and mergers and acquisitions for clients in telecommunications industry.
DADE SAVINGS AND LOAN ASSOCIATION, Miami, FL 1983 to 1984
$2 billion thrift company.
President and Chief Operating Officer
Established and managed commercial and consumer banking operations.
CHEMICAL BANK, New York, NY 1969 – 1983
Money center bank, predecessor to JP Morgan Chase.
Senior Vice President
Held several positions of increasing responsibility:
• Chief Credit Officer for Real Estate Division, with credit policy oversight for $3 billion portfolio, and $160 million legal limit lending authority;
• Led a team of 20 professionals responsible for loan workouts and management and disposition of foreclosed properties;
• Led a team of six professionals which developed a Corporate strategic plan;
• Managed a corporate banking unit focused on Fortune 500 clients throughout the US.
EDUCATION
BA, University of Notre Dame, South Bend, IN, 1969 |
