The 50 Most Important Figures of Commercial Real Estate Finance

APRIL 4, 2018 REAL ESTATE

APRIL 2, 2019 REAL ESTATE APRIL 4, 2018 The 50 Most Important Figures REAL ESTATE TheofThe Commercial 50 50 Most Most Important ImportantReal Estate Figures FinanceFigures of Commercialof Commercial RealReal EstateEstate Finance Finance 9 Warren de Haan, 9Boyd10 Fellows, WarrenWarren de de Haan, Haan, ChrisBoyd Tokarski Fellows, and StewBoyd WardFellows, ChrisChris Tokarski Tokarski and and ManagingStew Ward Partners Stew Ward WarrenWarren de de BoydBoyd Fellows atManaging ACORE PartnersCapital HaanHaan Fellows Managingat ACORE PartnersCapital Warren de Boyd Last Year’s Rank: 10 Haan Fellows atLast ACORE Year’s Rank: Capital 9

ByLast The EditorsYear’s Rank: 10 By The Editors e launched the business three years By The Editors “Wt mayago be anda lender-eat-lender had a plan to be world one of out the true leadersthere. Butin the last unregulated year, one of theprivate debt-fund lending I e launched the business three years spaceworld’s in commercial brightest stars real managedestate,” Boyd to put Fellows more ago and had a plan to be one of the “Wsaid.capital “That into was the really market the goal.” than ever before. true leaders in the unregulated private lending GoalACORE accomplished. Capital upped The young its volume private by nearly space in commercial real estate,” Boyd Fellows lender’s15 percent, originations bringing topped $5.7 billion $5 billion in new last debt to Chris said. “That was really the goal.” year,the matching market, compared2016’s figure. with an even $5 billion Tokarski Stew Ward Goalin 2017. accomplished. Not bad for Thea firm young that’s private a month away “In 2016 we got off to the races then in Chris lender’sfrom originationscelebrating just topped its fourth $5 billion anniversary. last lows said bent—but didn’t break—a long bull Real Estate Funds and Northstar Commercial 2017 the world changed—there was a lot more Tokarski Stew Ward year, matchingThe young 2016’s firm’s figure. impressive lending sta- market’s resolve. Partners—a deal that combined both senior competition and countless new entrants—but “Intistics 2016 come we got from off a to hunger the races to get then as broad in a “The volatility in the fourth quarter created and mezzanine debt. it actually ended up being very similar to millionChris loan on 10 Jay Street in Brooklyn—a transactions. “We can provide full service, 2017picture the world of the changed—there national market was as possible, a lot more its challengesTokarski for many of our clients, particularly StewAnd in Ward a deal at the start of 2018, ACORE 2016,” Fellows said. “We were able to validate 10-story office conversion project along the from origination through seamless underwrit- competitionleaders say. and countless new entrants—but on new acquisitions,” Fellows recalled. “But teamed with LaSalle Investment Management our leadership position with another very Dumbo waterfront—for Glacier Global Part- ing, through asset management,” de Haan it actually“We striveended to up see being every very deal similar possible to across millionit also gaveloan uson the 10 Jayopportunity Street in to Brooklyn—a stand out as totransactions. lead a $105 million “We can bridge provide loan full on a service, freshly big execution in an even more competitive ners and Triangle Assets; a $131.7 million loan said. “The culture of ACORE permeates all 2016,”the Fellows entire U.S.A., said. “Weand in were all property able to validate types 10-storya lender office our clients conversion can absolutely project alongcount theon, builtfrom condominium origination through and apartment seamless tower underwrit in - environment.” for the ground-up construction of AMCAL the way through the organization, so clients our thatleadership fit our investment position with parameters,” another very Warren Dumboeven when waterfront—for the market creates Glacier uncertainty.” Global Part - Nashville:ing, through 505 assetChurch management,” Street, the city’s de Haantallest Warrende Haan de said. Haan “When added, we “The execute hallmark this strategy of the Swensen’sBorrowers The indeed Graduate—a counted 19-story on ACORE student in residentialknow they building. can borrow very well-priced capital big execution in an even more competitive ners and Triangle Assets; a $131.7 million loan said. “The culture of ACORE permeates all yearwell, was we proving wind upto thewinning market a diversified that we are portfo a - housingdroves lastbuilding year to in finance San Jose, some Calif.; of the and coun a - withA real flexible estate-first terms approach as well as is great one of customer the environment.” for the ground-up construction of AMCAL the way through the organization, so clients dominantlio both player geographically in terms asof welltotal as transaction with respect $121.24try’s most million interesting first mortgage and complex and mezzaninedevelop- firm’sservice. biggest That strengths, provides dea great Haan experience affirmed. for a Warren de Haan added, “The hallmark of the Swensen’s The Graduate—a 19-story student know they can borrow very well-priced capital volume.to property The suite type.” of products that ACORE has loanment for and the repositioning purchase and deals. renovation In October, of 311 the borrower“We continue up and to downgrow ourthe assetcurve.” manage - year was proving to the market that we are a housing building in San Jose, Calif.; and a with flexible terms as well as great customer transcendsWhat’s every more, single ACORE’s part of accomplishments the capital stack Westplatform Monroe, was responsiblean office building for a $169.8 in Chicago’s million mentACORE team, endeda key client 2017 servicewith its differentia busiest quarter- to dominant player in terms of total transaction $121.24 million first mortgage and mezzanine service. That provides a great experience for a andcame every despite need of a our rough borrowers. end to the We year really for are U.S. Westloan Loop against area. a sprawling portfolio of industrial, tordate, when originating dealing with $2.1 complex,billion across transitional 30 loans. A volume. The suite of products that ACORE has loan for the purchase and renovation of 311 borrower up and down the curve.” a full-servicefinancial markets, lender and a period that puts that us Boyd in a posiFel-- officeACORE and has retail originated properties over controlled $10 billion by Alto in loans,”hard act he tosaid.— followM.G. but maybe not for ACORE. So transcends every single part of the capital stack West Monroe, an office building in Chicago’s ACORE ended 2017 with its busiest quarter to tion to continue to grow.” debt in just over two years, and 37 percent far, 2018’s deal pipeline is surpassing last year’s and every need of our borrowers. We really are West Loop area. date, originating $2.1 billion across 30 loans. A ACORE’s 72 deals last year include a $150 of those loans have been repeat borrower on all metrics, de Haan said. Stay tuned!—C.C. a full-service lender and that puts us in a posi- ACORE has originated over $10 billion in hard act to follow but maybe not for ACORE. So tion to continue to grow.” debt in just over two years, and 37 percent far, 2018’s deal pipeline is surpassing last year’s ACORE’s 72 deals last year include a $150 of those loans have been repeat borrower on all metrics, de Haan said. Stay tuned!—C.C. Last Year’s Rank Name(s) Title(s) Rank

1 Michael Nash, Stephen Co-Founder and Chairman of Blackstone Real Estate Debt Strategies; CEO of 2 Plavin, Jonathan Pol- Blackstone Mortgage Trust; Global Head of Blackstone Real Estate Debt Strategies; lack and Tim Johnson Senior Managing Director at Blackstone Real Estate Debt Strategies

2 Je DiModica and President; Chief Originations Ocer at Starwood Property Trust 4 Dennis Schuh

3 Brian Baker and Global Head of Commercial Mortgages at J.P. Morgan Securities; Head of 3 Al Brooks J.P. Morgan Chase Commercial Real Estate

4 Doug Mazer, Kara Head of Real Estate Capital Markets; Head of Commercial Real Estate Capital 1 McShane and Alan Markets and Finance; Group Head of Multifamily at Wells Fargo Wiener

5 Matt Borstein Head of Global Commercial Real Estate at Deutsche Bank 8

6 James Flume Global Head of Commercial Real Estate Lending at Morgan Stanley 6

7 Joseph Dyckman and Co-Heads of U.S. CMBS at Citigroup 7 David Bouton

8 George Gleason, Rich- Chairman and CEO; Managing Director of Originations in Northeast U.S; President 17 ard Smith, Brannon and COO of the Real Estate Specialties Group; Managing Director of Originations Hamblen and Greg in Southeast US at Bank OZK Newman

9 Richard Mack and CEO; CIO and Managing Partner at Mack Real Estate Credit Strategies 29 Peter Sotolo

10 Warren de Haan, Boyd Managing Partners at ACORE Capital 9 Fellows, Chris Tokar- ski and Stew Ward

11 Je Fastov Senior Managing Director at Square Mile Capital Management 18

12 Miriam Wheeler and Co-heads of the Americas Real Estate Financing Group at Goldman Sachs 16 Ted Borter

13 Dustin Stolly and Vice Chairmen and Co-Heads of Debt and Structured Finance at Newark Knight 33 Jordan Roeschlaub Frank

14 Michele Evans and Senior Vice President and COO of Multifamily; Executive Vice President of Multi- 14 Je ery Hayward family at Fannie Mae

15 Debby Jenkins, John Head of Multifamily Business; Senior Vice President of Production and Sales; Vice 13 Cannon, Stephen John- President of Small Balance Loan Business; Vice President of Targeted A ordable son and David Leopold Sales and Investments at Freddie Mac

16 Ralph Herzka and Yoni Chairman and CRO; President at Meridian Capital Group 10 Goodman

17 Grant Frankel, Philip Managing Directors at Eastdil Secured 12 McKnight and Ken Ziebelman

18 Steve Kenny, Brad East Region Real Estate Executive; Senior Vice President and New York and New 28 Dubeck and Ken Cohen Jersey Market Executive; U.S. Head of Commercial Real Estate Structured Finance at Bank of America Last Year’s Rank Name(s) Title(s) Rank

19 David Durning and President and CEO; Global Head of Originations at PGIM Real Estate Finance 21 Marcia Diaz

20 Larry Kravetz Head of CMBS Finance at Barclays Capital 26

21 Greg Murphy Head of Real Estate Finance Americas at Natixis Real Estate Capital 25

22 Gino Martocci and Co-Head of Commercial Banking and Executive Vice President; Regional President 19 Peter D’Arcy of New York City and Long Island and Head of Commercial Real Estate Segment at M&T Bank

23 Robert Merck and Gary Head of Real Estate and Agriculture Finance; Head of Real Estate Debt Strategies 20 Otten at MetLife

24 Aaron Appel, Keith Vice Chairman; Executive Vice President; Managing Director; Managing Director 34 Kurland, and at JLL Jonathan Schwartz

25 James Carpenter and Senior Executive Vice President and Chief Lending Office; First Senior Vice 24 John Adams President, Chief Administrative Office and Senior Lending Office at New York Community Bank

26 Willy Walker Principal and CEO of Walker & Dunlop 19

27 Steve Kohn, Dave Vice Chairmen and President of Equity; Debt & Structured Finance; Executive 46 Karson, Gideon Gil, and Managing Director; Executive Director; Executive Director at Cushman & John Alascio Wakefield

28 Chris Lee and Matt Co-Heads of Real Estate Credit at KKR Real Estate Finance Trust 40 Salem

29 James Million and Executive Vice Presidents at CBRE 30 Tom Traynor

30 Dan Bennett, Jordan Head of Capital Markets; CIO; Head of Originations at LoanCore Capital N/A Bock and Brett Kaplan

31 Matthew Masso and Head of Commercial Real Estate Finance; Head of Commercial Real Estate Loan 32 Stefanos Arethas Origination at Credit Suisse

32 Steven Rosenberg Chairman and CEO of Graystone 38

33 Robert Verrone and Principal; Managing Director at Iron Hound Management Company 35 Christopher Herron

34 Mark Talgo Senior Managing Director of New York Life Investors 39

35 Chris LaBianca and Head of Commercial Mortgage Originations; Managing Director and Head of Real 31 David Ness Estate Finance at UBS

36 Simon Ziff, Patrick President; Principal; Principal; Principal of Ackman-Ziff 36 Hanlon, Jason Krane and Russell Schildkraut Last Year’s Rank Name(s) Title(s) Rank

37 Gary Magnuson and Head of Commercial Real Estate Finance; Director of Institutional Real Estate at 43 Patrick Burns Citizens Bank

38 Raymomd Qiao and Chief Lending Office; Head of U.S. Commercial Real Estate Lending at Bank of 15 Anthony Wong China

39 Greta Guggenheim CEO and President of TPG Real Estate Finance Trust and Partner of TPG 45

40 Paul Vanderslice CEO of CCRE 7 (at Citigroup)

41 Joseph Fingerman and Co-heads of Commercial Real Estate at Signature Bank 23 John Zieran

42 Jeff Friedman and Co-Founders and Principals of Mesa West Capital N/A Mark Zytko

43 Thomas Whitesell and Group Head of Commercial Real Estate; Managing Director at CapitalSource N/A Patrick Crandell

44 Gregg Gerken Executive Vice President at TD Bank Group and Head of U.S Commercial Real 47 Estate at TD Bank

45 Matt Galligan President of CIT Real Estate Finance at CIT Bank 50

46 Ivan Kaufman Chairman, President and CEO of Arbor Realty Trust 49

47 Justin Wheeler CEO of Berkadia Commercial Mortgage 48

48 Glenn Gallagher and National Market Manager; President of Multifamily Finance at Capital One 37 Jeff Lee

49 Jerome Sanzo Head of Real Estate Finance at Industrial and Commercial Bank of China 42

50 David Schonbraun CIO at SL Green Realty Corp 27

HM Bert Crouch and Managing Directors at Invesco Real Estate N/A Charlie Rose