News
HAPPY DAYS ARE HERE AGAIN?
April 21, 2011
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| Lending is experiencing a renewed, yet cautious optimism, as seen last week at YMBA’s lender symposium. “It’s unquestionably more active, though lenders are exercising greater selectivity in whom and what they extend debt to,” YMBA chair Ron Cohen of The Besen Group tells us. There to tell 100 attendees what’s driving their business: RCG Longview founding partner Jonathan Estreich, who just closed a SoHo land loan for $300/buildable SF; Morgan Stanley managing director Stephen Holmes, whose firm recently did $2B in CMBS issuances, including NYC Class-A office properties; HSBC EVP’s Glenn Grimaldi, whose bank completed a nine-figure first mortgage for an office property and is actively lending on all asset classes; and Cornerstone Real Estate Advisers VP Jamie Henderson. Standing: Jonathan, HFF’s Steven Klein, Ron, Flushing Savings Bank’s Johnny Reyes, HSBC’s Gillian Murray, Eastern Consolidated’s David Schechtman, and First American Land Services’ Marc Lawrence. Seated: HFF’s Evan Pariser, Glenn, Jamie, and Stephen. |
