8A —November 10 - 23, 2017 — Lender’s Directory — Financial Digest — M id A tlantic
Real Estate Journal
www.marejournal.com
L ender ’ s D irectory
By Sanford Herrick, Case Real Estate Capital, LLC Abundant Capital for Commercial Real Estate in New York Metro Area and Mid-Atlantic Regions
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poised to continue that trend throughout 2018 and beyond. SanfordHerrick is found- er and managing principal of Case Real Estate Capital, LLC. Industry veteran Sanford Herrick has orchestrated in- vestments in more than $5 billion worth of commercial properties. In 2013, he found- ed Case, which has surpassed the $125 million mark in in- vestments. n Olshan Properties names Chang exec. VP of finance NEW YORK, NY — Olshan Properties announced the ap- pointment of Wayne Chang as executive v i c e p r e s i - dent, finance. Chang will be responsible f or l eading financial dis- ciplines at the company in- cluding over- seeing accounting, finance, audit, and tax compliance. Chang brings more than 15 years of leadership in real estate finance to Olshan Prop- erties. He has extensive expe- rience in accounting, financial reporting, budgeting, tax plan- ning and compliance. “We’re delighted to welcome Wayne to Olshan Properties where his superb real estate finance experience, strategic mindset and results-oriented focus make him the perfect complement to our exceptional leadership team,” said chief ex- ecutive officer, Andrea Olshan . Prior to joining Olshan Prop- erties, Chang served as the Chief Financial Officer for Pre- ferred Real Estate Investments, Inc. where he was responsible for the oversight of all financial reporting, bank covenant and tax compliance requirements for lending institutions and third party investors across a diverse and entrepreneurial spectrum of operating, con- struction, and holding compa- nies. Previous positions also included chief financial officer for Skilken Real Estate and VP of Finance and Administration for U.S. Properties Group. Chang earned a Bachelor of Science and Bachelor of Arts in Finance and Accounting as well as a MBA with a minor in real estate from Ohio State University. n Wayne Chang
he abundance of capi- tal available for com- mercial real estate is
Even though transaction volume has declined since early 2016, it remains well above historical averages. Looking to 2018, interest rates and terms will likely remain favorable, even with so much rollover debt coming into the market. More than $1 trillion worth of U.S. commercial real estate loans is set to mature over the next three years. Demand for Private Lending on Transitional Assets and Those Nearing Stabilization Banks and the CMBS mar- ket have continued to originate loans for stabilized properties,
although are much less active than their pre-recession lev- els. This pullback has created even more demand for private lenders to originate loans, particularly for transitional assets and those nearing sta- bilization. In response to the needs of clients and market conditions, Case Real Estate Capital, LLC (Case) recently introduced a small loan program that originates lower-interest loans in the $2 million to $8 million range for properties nearing stabilization. This ‘bridge light’ small loan program cov-
ers all asset types, including office, retail, industrial, manu- facturing, hospitality, self- storage and selected entitled land. Typically, these loans will have an initial term of one to two years with extension op- tions of up to two years. Case’s goal, with all of its lending, is to create additional profit op- portunities for property own- ers and developers. Case’s areas of interest – New York metro area, Mid- Atlantic region and Florida – have performed well in the decade since the financial crisis peak of 2007 and are
driving lend- ers to pres- ent aggres- s i ve t e rms and respond to the needs o f o wn e r s and develop- ers when vy- ing for deals
Sanford Herrick
throughout the New York metropolitan area, the Mid- Atlantic region and Florida. This liquidity exists at all pric- ing and lending levels.
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