Term Sheet: Starwood signs Pollack from Blackstone; ex-Silverstein CEO Burger spins out Island Capital-backed venture; Maverick acquires...
PERE Credit
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The wave of senior executive shake-ups seen so far this year continues as Blackstone’s head of structured finance, Jonathan Pollack, leaves the firm, with plans to join Barry Sternlicht’s Starwood Capital next year; Former Silverstein Properties chief executive Marty Burger outlines plans to build a debt platform as well as pursue office-to-residential conversion opportunities via his new firm, Infinity Global Real Estate Partners; Maverick Real Estate Partners buys a $247 million slice of the Signature Bank loan portfolio acquired last year by a Blackstone -led joint venture; and more in this week's Term Sheet.
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They said it
“The interconnectivity between banks and the real estate market is going to continue for the next couple of years, and you’re going to see more of this consolidation and/or liquidation of US banks”?
Joshua Pack, co-chief executive officer of New York-based manager Fortress Investment Group , speaking on Bloomberg’s Credit Edge podcast last week.
What’s new
Star(wood) power
Jonathan Pollack, the global head of structured finance at New York-based manager Blackstone, left the firm this week to become president of Miami-based Starwood Capital Group . Read more...
领英推荐
To Infinity
Marty Burger , the former chief executive officer of New York-based manager Silverstein Properties, this week outlined plans to launch his own company, Infinity Global Real Estate Partners. Read more...
Trending
Buzzer beater
One of the last New York City multifamily developments to qualify for the 421a affordable housing tax abatement prior to its 2022 expiration has secured $125 million in construction financing. Read more...
Loan in focus
Industrial affinity
New York-based manager Affinius Capital , formerly Square Mile Capital Management, this week funded a $150 million loan on behalf of a fund managed by New York-based Ares Management Corporation for a portfolio of Class A industrial assets. Read more...