Alina Mardesich

How Did You Get Your Start In CRE Finance?

I was a part-time employee for the city of Montebello Redevelopment Agency during college. At that time, the city was courting large retail developers. Working with the development director, I was exposed to the process by which the city facilitated entitlements and then witnessed them happen through completion. I was also responsible for processing business license applications.

The city of Montebello has a large industrial base and many business license applicants were looking for space. I started taking inventory of available industrial space, interviewing leasing brokers and created a database to facilitate this process. Little did I realize I was acting as a broker. It was because of that experience that I decided to transfer from UCLA to USC’s undergrad business school and focus on real estate finance.

My first job out of USC was working in the Valuation Service Group at Arthur Andersen & Co. as a staff underwriter working on residential master plan feasibility studies, golf course valuations and various other assignments that took me across the country.

Why Specialize In CRE Finance?

The finance piece of it came after leaving my second job at the J.E. Robert Cos., where I was an analyst, to follow my boss to Fremont Investment & Loan where we originated CRE loans for middle market real estate investors/developers.  I started originating on my own a few years in and after an 11-year run, put over $1.5B on the books.

Are Women Represented Enough In CRE Finance?

Not yet and in my 25-plus years, Fremont was the only exception. The platform was run by a woman who took the platform from annual originations of $186M in 1996 to over $6B by 2005-2006. I was surrounded there by women in a very nurturing environment. I married and had three children while employed there with tremendous success and support. Little did I know how lucky I was at the time.

Can You Speak To Your  Experience/Treatment As A Woman In CRE Finance?

I’ve had some very bad experiences because of my gender … the #MeToo movement resonates strongly. I once asked a male superior if I could work on the cash flow model for a large office development project (I seemed to always be assigned to market data gathering) and his response was, “Why don’t you let the boys focus on the numbers and you keep doing what you’re doing?” All I can say is that it’s made me a lot tougher and the older I get, the better I seem to manage it. I stand up for myself a little taller now than I was able to in my 20s.

What Can The Industry Do To Encourage Bringing More Women Into The Finance Space?

Women want to be celebrated, not tolerated, and it feels like the industry is doing just that.  We just need to invite more men to these [networking] events. The impression we are making on the younger male generation is taking root and I believe the “old boys network” mentality will continue to dissipate.

What Advice Would You Offer Your Former Self About Navigating The World Of CRE Finance?

First — build as many strong mentor relationships (male and female) as possible.  Second — find the icebreaker. My young self HATED networking, mostly because I was inexperienced and just starting to build my track record. By chance I got over this when I started talking golf with some “old boys.” I wasn’t into golf at all but it was always on television at home and somehow I picked up knowledge of the game through osmosis. The conversation about golf was the icebreaker. The next thing you know, I was playing in “best ball” charity golf tournaments every chance I got and started making friends. I didn’t feel so out of place anymore and realized what should have been more obvious at the time — that this business is mostly about relationships. Some of my best relationships started on the golf course 20-plus years ago.