16A — August 30 - September 12, 2013 — Mid Atlantic Real Estate Journal
www.marejournal.com
P eople on the M ove
To vice president investments Gorman & Munley among six NE agents promoted
Broseman, Cohn, Kaplin, Korn, Silberman and Stein Best Lawyers recognize six Kaplin Stewart attorneys
CALABASAS, CA — Mar- cus &Millichap Real Estate Investment Services has
• Matthew P. Gorman , Philadelphia, Retail/Net- Leased • Chr i s -
B
lueBell, PA — Kap- lin Stewart has an- nounced that six of their
promoted six Nor theas t - based agents to vice presi- dent invest- ments. This designation e x e m p l i - fies superior performance achieved by
t opher A . M u n l e y , Philadelphia, Retail/Net- Leased Before be- ing promot- ed, all of the agents above e x c e p t f o r
attorneys have been recognized by Best Lawyers for excellence in their specific areas of prac- tice. These attorneys exemplify the quality of legal representa- tion that our firm provides for each and every client, and we are delighted that their profes- sional accomplishments have been widely recognized. Select- ed by their peers for inclusion in Best Lawyers in America 2014 in their fields are George W. Broseman for Land Use & Zoning Law, Andrew B. Cohn for Construction Law, Marc B. Kaplin for Land Use & Zoning Law and Litigation – Land Use & Zoning, Robert A. Korn for Construction Law and Litigation – Construction, Jeffrey L. Silberman for Real Estate Law and Neil A. Stein for Land Use & Zon-
Matthew Gorman
Christopher Munley
George W. Broseman Andrew B. Cohn
Marc B. Kaplin
an associate during his or her sales career at Marcus & Mil- lichap and in the investment real estate brokerage profes- sion, according to GeneA. Ber- man, executive vice president and managing director. The agents, their office loca- tions and specialties are: • LaurieAnn Drinkwater , Boston, Retail • Todd Tremblay , Boston, Retail • Marco Lala , Manhattan, Multifamily • Kevin M. McCrann , New Jersey, Multifamily
Lala held the title associate vice president investments. Previously, Lala was an as- sociate. “With this promotion, these commercial real estate invest- ment specialists have earned a prestigious designation within the firm and solidified their reputations as knowledgeable and successful investment professionals,” said Berman. “Their focus on providing supe- rior client services has earned them a high degree of loyalty and respect from investors as well as from their peers.” n retail business in New Jersey. Previously, Freire served as associate director/salesperson within Cushman & Wakefield of New Jersey’s Metropolitan Area Capital Markets Group. In this role, she produced vari- ous market analysis reports, offering memorandums, bro- chures and position papers for press releases on the various sectors of the New York/New Jersey metropolitan area real estate market. Other duties included organizing and at- tending property showings, coordinating special events and producing tour booklets and related materials. Freire has also served as manager of Cushman’s NJ Re- search Services Group, where she managed a staff of seven research analysts and provided consulting services and solu- tions. She also held positions at Trammell Crow Company and Insignia/Edward S. Gordon. “I’m excited to rejoin NJ’s commercial real estate indus- try at this pivotal time, and to work for a growing firm such as NAI Hanson,” Freire said. “My expertise in marketing and communications, as well as my recent experience in the retail world, provide me with a unique perspective that I look forward to bringing to the table.” n
Robert A. Korn Jeffrey L. Silberman Neil A. Stein
ing Law. Robert A. Korn has received an additional dis- tinction as the Best Lawyers’
2014 Philadelphia Litigation – Construction “Lawyer of the Year.” n
Jonathan Weiner joins Cbre as asset services engineering operations managing director
NAI Hanson names Isabel Freire market research dir.
Philadelphia, PA — CBREGroup, Inc. announced that Jonathan Weiner has
infrastructure across CBRE’s Eastern Division’s 190 million s/f management portfolio. He will also provide market analy- sis and asset positioning con- sultation, assist in acquisition underwriting and due diligence and support new business de- velopment. “Jon is a great addition to our team, and his two decades of construction and real estate industry experience enhances our ability to deliver the high- est level of client service,” said Grayson Gill, Chief Operating Officer, Asset Services, CBRE. Based in Philadelphia, Wein- er joins CBRE fromG2G, where basic terms of a financing, ob- taining a developer/borrower’s commitment to accept the financing and proceed to clos- ing, and to obtain fee income upon acceptance of the com- mitment. Given the potential liability associated with commitment letters and the rapid pace of commerce, many commercial developers and lenders are opting for the use of proposal letters followed by detailed loan documentation in order to document real estate credit facilities. In the aftermath of the Great Recession, real estate developers and borrowers are
he was a principal, providing clients with strategic, finan- cial and operational advisory services to support sustainable capital infrastructure projects and energy-efficient operation of commercial real estate port- folios. Prior to G2G, he held po- sitions in senior management with two Big Four firms where he directed and performed vari- ous construction, real estate and tax consulting projects for C-level executives at Fortune 500 companies. Weiner also has four years of experience in mechanical consulting en- gineering, procurement and estimating. n cautious and have taken the lessons learned in the area of loan documentation to heart. The specific circumstances of a deal, as well as the best practices of respective real estate developers, will likely dictate and determine whether a term sheet, proposal letter or commitment should be uti- lized. Savvy developers can and should use these loan documen- tation methods to their advan- tage wherever possible. John D. Cromie is the chair of Connell Foley LLP’s Corporate and Business Law practice group. n
HACKENSACK, NJ — NAI James E. Hanson announced that Isabel Freire has been
j o i n e d t h e c omp a n y ’ s asset servic- es business line as as - set services engineering o p e r a t i o n s m a n a g i n g d i r e c t o r . Weiner will be
named mar- ket research director. I n t h i s role, Freire w i l l w o r k t o i dent i f y marketplace trends, and will oversee the creation of
Jonathan Weiner
Isabel Freire
responsible for working with local market leadership to provide recommendations for tactical and strategic plan- ning as it relates to physical
all NAI Hanson’s market re- ports on industry-specific topics including the performances of submarkets, property types and business sectors. Freire possesses a broad range of skills in research, man- agement, marketing, public re- lations, brokerage, investment sales, property management and valuation services. “In today’s commercial real estate market, accurate and in-depth market research is a necessary and vital commod- ity,” said William C. Hanson , SIOR, president, NAI James E. Hanson. “We are excited to welcome Isabel and feel her ex- pertise in this arena will prove to have tremendous influence on the day-to-day business as our brokers use the research in the transactional process.” Prior to joining NAI Hanson, Freire owned and operated a
continued from page 13A Term Sheets, Proposal Letters and Commitment Letters: Practical Advice for Real Estate Developers
key terms. From a developer’s perspective, a lender’s failure to include a key business condition in a commitment may restrict the lender’s ability to insist on those terms or conditions in the final loan documents. Developers can use commit- ment letters to lock in favor- able business terms including interest rates, and to provide reasonable certainty to a devel- oper before the developer has to waive a financing contingency in an acquisition deal. Lenders often endorse the use of com- mitments for some of the same reasons, including settling all
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