14A — November 8 - 21, 2019 — Lender’s Directory — M id A tlantic
Real Estate Journal
www.marej.com
Lender’s Directory
Michael H. Claisse, Senior Vice President Spencer provides a full range of financing options for property types ranging frommulti-family to commercial A
find creative solutions to meet complex borrowing needs. We work closely with our clients to ensure they get the financing needed to achieve their goals. Name some of your most unique qualities/reasons why someone should do business with your finan- cial institution? We’re a community bank and community banks are dif- ferent. We truly care about our clients and helping themmeet their needs and exceed their goals are always our primary focus. At the heart of every- thing we do, every deal we make, every contract signed, every handshake given – is our deeply rooted interest in see- ing you succeed as amember of our community. We are ready to answer questions, listen to points of view and create strong partnerships. Combine these strong community-bank- ing values with our local, fast decision-making capabilities and flexible, creative lend- ing options - and you have a winning strategy. That’s the Spencer way!
r ea o f Int e r e s t : Spencer provides a full range of financ- ing options for property types ranging from multi-family to commercial (including mixed- use, retail, medical office, flex/ warehouse and industrial) as well as construction loans (rental units and smaller for sale residential properties). We also provide financing and refinancing options for smaller sized 1-4 family investment properties. Our well-seasoned staff has the knowledge and expertise to help power financ- ing needs for stabilized proper- ties, purchases or development of investment properties. Who is your target mar- ket? The credit quality of Spen- cer’s over $2 billion loan port- folio has helped make it one of NJ’s strongest community banks, resulting in growth that expands well beyond our brick and mortar footprint. Headquartered in northern New Jersey, the bank has a proven track record of help- ing real estate investors and Eli Stober, Director FairCap Group Headquarters: Brooklyn, NY Years with company/firm: 5 Years in field: 5 Area of Interest: Commer- cial mortgages bridge loans and hard money loans. Who is your target mar- ket? Kevin Meehan, Managing Partner Atlas Commercial Capital, Inc. Headquarters: 45 Rock- efeller Plaza, 20th Floor, New York, NY 10111 Years with company/firm: 24 Years in field: 35 Area of Interest: Clos- es 1st mortgages, bridge, and construction loans on Marc Tropp, Senior Manag- ing Director Eastern Union Funding Headquarters: 7910 Wood- mont Ave Suite 870 Bethes- da, MD Years with company/firm: 17
why? Looking ahead, our largest growth area is positioned to be in construction financing; however, we are persistently growing our permanent multi- family and commercial loans. We anticipate, and are pre- pared for, a large surge within the bank’s footprint as capital moves from the restrictive New York City market to the New Jersey market, due to rent regulations that continue to amplify. What separates you from the competition? Our lending team that is flexible, nimble and creative – with the ability to offer expe- dited approvals on deals. With localized decision-making and direct access to decision- makers, our team will work hard for you to streamline the lending process, helping you to save time and focus on your commercial project. We offer this, as well as a strong ability to adapt to ongoing market conditions and client needs. At Spencer, we con- stantly empower our team to
Michael H. Claisse Senior Vice President Director of Commercial Real Estate Spencer Savings Bank Headquarters: 611 River Dr., Elmwood Park, NJ 07407 # of Commercial RE specialist: 25+ Years with company/firm: 1 Years in field: 25+
developers throughout New Jersey, as well as across the tri-state area. Our target customer consists of medium- to-large size real estate devel- opers and owners within this market area. What is your most note- worthy transaction or proj- ect this year? It’s hard to say because we have had some great projects come through this year. We re- cently closed two of our largest loans – the first being a 7-year, $19 million commercial mort- gage to refinance existing debt on two office buildings located in Northern New Jersey. The Anyone in commercial RE. What is your most note- worthy transaction or proj- ect this year? Several including providing bridge financing for a large development in FL. Where do you think your largest growth area is and why? NY,NJ,FL What separates you from Multifamily, self-storage, warehouse, hotel, office and MHPs Nationwide Who is your target mar- ket? Developers and Investors of investment properties seeking loans between $1M and $50M Name some of your most unique qualities/reasons why someone should do business with your financial Years in field: 17 Area of Interest: We are interested in commercial senior debt financing and equity. Who is your target mar- ket? Our target market are owners in the greater Balti-
subject properties are class B office buildings, totaling 103M s/f, designed for multi-tenant occupancy and currently fully occupied. We also recently closed a $19 million commercial mort- gage with one of the largest retail furniture department stores in the nation. It was a refinance of their strip center located in North Brunswick. This 108,250 square foot retail shopping center contains the department store as a flagship tenant, along with other retail and food service occupants. Where do you think your largest growth area is and the competition? Service, experience and honesty. Name some of your most unique qualities/reasons why someone should do business with your finan- cial institution? Friendly , hard working and honesty. We wont stop work- ing till you are satisfied. institution? • Proves clients with a wholesale and retail network of over 500 lenders to en- sure competitive terms with a lender that fits the property and borrower. • 90% repeat business ratio • No upfront fees • Experienced, trusted, licensed, transparent, and quick! more/Washington area. What is your most notewor- thy transaction or project this year? 400,000 s/f reposi- tioning of a distribution ware- house as well as a large capital hill mixed use development.
Q&A with Red Star Mortgage Corp.’s Polao
Q&Awith FairCapGroup’s Eli Stober
Gary Polao Managing Director
Red Star Mortgage Corp. Headquarters: Philadelphia, PA # of Commercial RE specialist: Full time commercial loan origination team Years with company/firm: 15 Years in field: 15
Q&Awith Atlas Commercial Capital’s KevinMeehan
conventional bank lender. What is your most note- worthy transaction or proj- ect this year? Multiple loans under $750K on our specialized “no debt service” program Where do you think your largest growth area is and why? Self-employed borrowers that can not qualify at a bank come to us and get 80% LTV and 30-year fixed rate loan with cash out and minimal closing documentation. What separates you from the competition? There is no competition in this space, Red Star provides a unique and specialized program nation- wide. No other lender can do a 30-year fixed rate commercial mortgage loan.
Area of Interest: Non-Bank Alternative to Bank Financing. Lending onmost types of income producing commercial real es- tate, focus on small balance lending from $250K-$3MM with no tax returns needed and minimal documentation, fast closing. We work with self- employed borrowers and inves- tors nationwide. Offering up to 80% LTV, purchase, refinance and unlimited cash-out with a 30-YEAR FIXED RATE com- mercial mortgage. Who is your target mar- ket? Self-employed borrowers or investors that just miss qualifying for bank financing or those do not wish to work with the “red-tape” and credit committee requirements of a
Q&A with Eastern Union Funding’s Marc Tropp
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