Danny York To Spend Lots of Money
Congrats to Franklin Street's Danny York, fresh from a golfing trip at the Bahamas resort Atlantis (with Jake Reid on right). He's just been tapped as president of its capital division, with responsibility of placing both house capital and institutional debt into various projects. Most recently he helped secure a nearly $5M loan for a 90-unit apartment refi in Florida and has rounded up financing for a 10k SF strip center in Brookhaven. Its bread-and-butter: $5M and up on stabilized assets, he says. But the firm also is eyeing small mezz debt loans to cover CMBS refis—a slew of which is coming due over the next three years, and Danny says he expects to still have shortfalls, despite improving fundamentals and rising valuations; prices are still not where they were in 2006, he says. (Let's get those prices up so we can all go golfing in the Bahamas.)
