Real Estate Journal — 30 Under 30 — February 22 - March 14, 2019 — 3C
www.marejournal.com
M id A tlantic
30 U nder 30 Abe Mann, Progress Capital
“Be honest in business dealings and respectful to everyone you encounter… reputation is everything”
ow do you contrib- ute to your company and/or the industry? At Progress Capital, I take great pride in adding value to my client’s overall invest- ment portfolio for both them- selves and their partners. We have a tremendous amount of deal flow throughout NYC and NJ, in addition to vari- ous sub-markets throughout the East Coast. This carries weight with both local and national lenders in obtaining preferential rates, terms and execution. I’m always happy to increase my client’s risk- adjusted returns and make sure we handle the entire pro- cess to get them to the closing table. As a company, one of our greatest strengths is find- ing solutions to complicated issues that may arise during the closing process. What is your most notable project, deal or transaction? My most notable transaction for 2018 was a $23M retail refi- nance for Jeff Sutton, of Whar- ton Properties. The property is newly developed and located on a strong corner on 125th St. in Harlem. We were able to negoti- ate excellent permanent financ- ing to refinance their construc- tion loan, with terms that the sponsors were very pleased with. Tell us how and when you began your career in the profession you are in, about your current position and why you choose the field/ profession you are in today? Before completing my MBA in finance, I was a property man- ager at Mann Realty Associates, which owns and manages resi- dential units throughout Man- hattan and FL. While I enjoyed property management, I started to become more intrigued by the financing aspect of real estate. I began to understand the power of various types of financing structures which can provide the ability to grow a portfolio while still maintaining flexibil- ity and healthy returns. Furthermore, real estate ac- quisitions are often conducted with generational wealth. This is something that I take seri- ously when providing my client with the best financial advice, and I enjoy being involved in meaningful projects with the goal of providing their families long-term financial stability. My position also allows me to be intimately involved in a multitude of different projects throughout the United States. It H
accomplishments. LinkedIn in particular has proven to be a valuable resource to network and build rapport with poten- tial clients while also market- ing our closed transactions at Progress Capital. What unique qualities and/ or traits do you feel makes you most successful in your profession? I am relentless when it comes to finding solu- tions and providing the most optimal financing opportunities for my clients. I take the time to understand their financial needs and determine the best financ- ing options for their particular deal. We also have a great team
of underwriters and company president in Kathy Anderson, who contributes tremendously to my individual achievements. What inspiring word of advice would you give to a young executive graduating from college? Ambition and a strong desire to succeed go a long way. At the same time, having patience is very important; to know that in due time opportu- nities will arise and one should be ready for when those op- portunities present themselves. More importantly, be honest in business dealings and respect- ful to everyone you encounter… reputation is everything.
Abe Mann Vice President Years with company/firm: 2 Years in field: 6 Years in real estate industry: 6 Real estate affiliations: NJAA, NAA
can be a $50M office refinance in Manhattan, a ground-up mixed- use project in Miami or a stabi- lized retail strip center in SC. This exposure to wide-ranging segments of the market offers great experience, and I learn so
much from my various clients and am fortunate to see their talents displayed first hand. What impact has social media / networking had on your career? Social media has played a major role in my
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