Reporting $5 billion in retail investment during 1997, Lehman Brothers takes the top spot in Shopping Center World's first annual ranking of the Top Retail Lenders.
In addition to the Top 25 Retail Lenders, Shopping Center World ranks the Top 10 Intermediaries. USA Funding Inc. heads our list, reporting $900 million in financing arrangements for retail projects primarily in the Midwest during 1997.
With lending goals for 1998 equal to or greater than 1997 totals for the majority of those surveyed, retail figures to be a significant investment segment.
Survey respondents were instructed to focus their reporting to the total dollar amount committed or arranged during 1997 for retail projects (strip centers, regional malls, freestanding stores, etc.) only. Most respondents are active across the various commercial real estate property types.
1 Lehman Brothers 3 World Financial Center New York, NY 10285 Phone: (212) 526-6110 Fax: (212) 528-6824 Amt. Committed/Retail: $5 billion Officers: Raymond C. Mikulich, Michael Mazzei, Mng. Directors; Michael J. DeMarco, Brett I. Ersoff, Sr. VPs Offices: San Francisco
Major projects financed 1997: Water Tower Place, Chicago IL, Amount: $170 million; DDR/DRA power centers, nationwide, Amount: $322 million; Dadeland Mall, Miami, FL, Amount $140 million; Lloyd Center, Portland, OR, Amount: $110 million; Horizon Factory Outlets, nationwide, Amount: $275 million; Prime Property Fund, nationwide, Amount: $135 million
Lending goal 1998: $7.5 billion
2 Nomura Capital 101 California St., Suite 4225 San Francisco, CA 94111 Phone: (800) NOMURA-1 Fax: (415) 743-2001 Amt. Committed/Retail: $2.789 billion Officers: Ethan Penner, Pres.; Brian Pilcher, Boyd Fellow, Co-Chief Operating Officers; Kathy Corton, Sr. Mng. Dir.; George Wissing VP, Mktg./Corp. Comm. Offices: New York; Miami; Los Angeles; Chicago; Dallas Amt. arranged/committed by Region: Midwest: $503,900,000 Northeast: $571,700,000 Southeast: $419,800,000 Southwest: $363,400,000 West: $884,100,000
Major projects financed 1997: Saul Centers portfolio, Amount: $147 million; Dayton Mall, Dayton, OH, Amount: $61.4 million; Burnham Pacific, City of Industry, Lancaster, CA, Amount: $58.5 million; SunWest portfolio, Amount: $50.5 million; Design Center of the Americas, Dania, FL, Amount: $39.9 million; Security Square Mall, Baltimore, MD, Amount $36.5 million
Lending goal 1998: $12 billion
3 CS First Boston 11 Madison Ave. New York, NY 10010 Phone: (212) 325-2131 Fax: (212) 325-8185 Amt. Committed/Retail: $2 billion Officers: Andrew Stone, William V. Adamski, Mark L. Finerman, Managing Directors
Lending goal 1998: $3 billion
4 CIBC Oppenheimer 425 Lexington Ave., Sixth Floor New York, NY 10017 Phone: (212) 856-3594 Fax: (212) 885-4968 Amt. Committed/Retail: $1.5 billion Officers: Michael Higgins, Managing Dir., Real Estate Finance Offices: Chicago; Los Angeles; Dallas; Toronto Amt. committed by Region: Midwest: $100,000,000 Northeast: $250,000,000 Southeast: $100,000,000 Southwest: $250,000,000 West: $200,000,000
Lending goal 1998: $1 billion
5 The Principal Financial Group 711 High St. Des Moines, IA 50392-0001 Phone: (515) 248-4227 Fax: (515) 248-8090 Amt. Committed/Retail: $1.03 billion Officers: Greg Hauser, VP, Commercial Real Estate; Steve Gravco, Second VP, Mortgages; Randy Mundt, Ralph Eucher, Second VP, Equities; Pat Halter, Second VP, Advisory Services Amt.committed by Region: Midwest: $180,096,234 Northeast: $98,826,785 Southeast: $314,723,159 Southwest: $186,938,821 West: $251,806,639
Lending goal 1998: $1 billion
6* Goldman Sachs 85 Broad St., 19th Floor New York, NY 10004 Phone: (212) 902-5900 Fax: (212) 357-5505 Web: www.gs.com Amt. Committed/Retail: $1 billion Officers: Mark Tercek, Mng. Dir.; Sheridan Schechner, Mng. Dir., Debt; Mark Wise, Meg Blakely, Jeff Fostor, Ted Border, Pam Dillon, Mitchell Sabshon, VPs Major projects financed 1997: General Growth, Amount: $560 million; Cadillac Fairview, Amount: $260 million; Rouse Co., Amount: $154 million
Lending goal 1998: $3.5 billion
6* Morgan Stanley Dean Witter 1585 Broadway New York, NY 10036 Phone: (212) 761-4411 Amt. Committed/Retail: $1 billion Officers: Liz Haberkorn, Principal; George Kok, Spencer Young, VPs
8 TransAtlantic Capital Co. 31 W. 52nd St., 12th Floor New York, NY 10019 Phone: (888) 90-TRANS Fax: (212) 469-8976 Amt. Committed/Retail: $950 million Officers: Louis P. Mirando, Mng. Dir., CEO; James Howard, Mng. Dir., CFO Offices: Chicago, IL; San Francisco, CA Amt. arranged/committed by Region: Midwest: $55,900,000 Northeast: $84,025,000 Southeast: $19,870,000 Southwest: $7,000,000 West: 38,330,000
Major projects financed 1997: Northville Village Center, Northville, MI, Amount: $19.9 million; Fruitvale Station, Oakland, CA, Amount: $21 million; Mount Pocono Plaza, Mount Pocono, PA, Amount: $11.4 million; Shelbourne Square, Reading, PA, $12.5 million; Hollywood Plaza, Orlando, Amount: $12 million; Vineyard Valley Center, Fontana, CA, Amount: $10.4 million
Lending goal 1998: $1.5 billion
9 KeyBank National Association 127 Public Square Cleveland, OH 44114 Phone: (216) 689-3574 Fax: (216) 689-3566 WebSite: www.keybank.com Amt. Committed/Retail: $840 million Officers: Robert W. Gillespie, Chairman/CEO; George E. Emmons Jr., Exec. VP/National Executive, Key Commercial Real Estate; Renee Csuhran, SVP/Midwest Regional Mgr., Key Commercial Real Estate; Norman Nichols Jr., SVP/Eastern Regional Mgr., Key Commercial Real Estate; Randall Stickler, SVP/Western Regional Mgr., Key Commercial Real Estate; Paul Horning, SVP/Mgr., Key Real Estate Capital Markets; Robert MacDonald, VP/Mktg., Key Commercial Real Estate Offices: Albany, NY; Anchorage, AK; Ann Arbor, MI; Boston; Buffalo, NY; Chicago; Cincinnati, OH; Columbus, OH; Dallas; Denver; Fort Collins, CO; Indianapolis; Las Vegas; Portland, OR; Salt Lake City, UT; San Francisco; Seattle; Syracuse, NY; White Plains, NY Amt. arranged/committed by Region: Midwest: $440,000,000 Northeast: $300,000,000 Southeast: $200,000,000 Southwest: $250,000,000 West: $250,000,000
Major projects financed 1997: Palisades Center, West Nyack, NY, Amount: $290 million; Forest City Enterprises, various, Amount: $225 million; The Shops at Sunset Place, South Miami, FL, Amount: $115 million; Preston Village Center, Plano, TX, Amount: $43 million; Downtown Woodinville, Woodinville, WA, Amount: $41 million
Lending goal 1998: $950 million
10 GE Capital Real Estate 292 Long Ridge Road Stamford, CT 06927 Phone:, 888-GE FIRST Fax: (203) 357-4475 WebSite: www.ge.com/capital/commrealestate Amt. Committed/Retail: $800 million Officers: Ron Pressman, Pres.; Jeff Malehorn, VP, US Originations, Kathy Cassidy, VP, Capital Markets; Peter Dubner, VP, Mktg. Offices: Atlanta, GA; Boca Raton, FL; Boston, MA; Charlotte, NC; Chicago, IL; Cincinnati, OH; Dallas, TX; Denver, CO; Houston, TX; Irvine, CA; Los Angeles, CA; Kansas City, MO; New York, NY; Philadelphia, PA; Phoenix, AZ; San Francisco, CA; Seattle, WA; Washington, DC; Buenos Aires, Argentina; Sydney, Australia; London, UK; Mexico City, Mexico; Paris, France; Singapore, Singapore; Stockholm, Sweden; Tokyo, Japan; Toronto, Canada
Lending goal 1998: $1.6 billion
11* Fleet Bank - Shopping Center Finance Group 75 State St. Boston, MA 02109 Phone: (617) 346-2874 Fax: (617) 346-3220 Website: www.fleet.com Amt. Committed/Retail: $750 million Officers: Ronald Lubin, SVP, Division Manager
11* NationsBanc Montgomery Securities LLC 100N. Tryon St., NC1-007-11-07 Charlotte, NC 28255 Phone: (704) 386-2562 Fax: (704) 333-2416 WebSite: www.nationsbank.com Amt. Committed/Retail: $750 million Officers: William Green, Mng. Dir. Conduit Program; Clyde Stutts, Sr. VP Origination; John Tinkey, Sr. VP Retail Program Offices: Baltimore, MD; Washington, DC; Norfolk, VA; Nashville, TN; Atlanta, GA; Tampa, FL; Fort Lauderdale, FL; Dallas, TX; Houston, TX; Saint Louis, MO; New York, NY; San Francisco, CA Amt. arranged/committed by Region: Midwest: $40,000,000 Northeast: $150,000,000 Southeast: $260,000,000 Southwest: $225,000,000 West: $75,000,000
Major projects financed 1997: Flagler Park Plaza, Miami, FL, Amount: $30 million; St. Vincent Mall, Shreveport, LA, Amount: $19.3 million; International Drive Value Center, Orlando, FL, Amount: $15.6 million; Copperwood Shopping Center, Houston, TX, Amount: $15.2 million; Towers Shopping Center, Roanoke, VA, Amount: $10.9million; East Village Square, Atlanta, GA, Amount: $8.2 million
Lending goal 1998: $900 million
13 Hypo Bank Financial Square, 32 Old Slip New York, NY 10005 Phone: (212) 440-0804 Fax: (212) 440-0824 WebSite: www.hypony.com Amt. Committed/Retail: $421,437,441 Officers: Peter Hannigan, First VP/Mktg. Mgr.; Bill Rogers, VP/Market Team Mgr. Amt. arranged/committed by Region: Northeast: $15,000,000 Southeast: $134,700,000 Southwest: $25,000,000 West: $246,737,441
Major projects financed 1997: MacArthur Center, Norfolk, VA, Amount: $150 million; City Mills, Orange, CA, Amount: $136 million; Valley Fair Mall, San Jose, CA, Amount: $100 million; Ontario Mills, Ontario, CA, Amount: $120 million; Park Meadows Mall, Littleton, CO, Amount: $20,883,838
Lending goal 1998: $600 million
14* Bear, Stearns & Co. 245 Park Ave. New York, NY 10167 Phone: (212) 272-6104 Fax: (212)272-7047 Amt. Committed/Retail: $400 million Officers: Gregory J. Spevok, VP, Mktg./Corp. Comm. Offices: Los Angeles Amt. arranged/committed by Region: Midwest: $80,000,000 Northeast: $100,000,000 Southeast: $80,000,000 Southwest: $40,000,000 West: $100,000,000
Major projects financed 1997: Mission Marketplace, San Diego, CA, Amount: $24 million; Hunterdon Shopping Center, Flemington, NJ, Amount: $6 million; Greentrail Shopping Center, Lisle, IL, Amount: $5.85 million; Goodwill Building/Ames Plaza, Westport, Old Saybrook, CT, Amount: $4.3 million; University Mall, Nacogdoches, TX, Amount: $3.7 million
Lending goal 1998: $750 million
14* Capital Lease Funding L.P. 85 John St., 12th Floor New York, NY 10038 Phone: (212) 587-7676 Fax: (212) 267-4976 Amt. Committed/Retail: $400 million Officers: William R. Pollert, Pres.; Edwin J. Glickman, Exec. VP; Paul H. McDowell, Sr. VP, General Counsel; Steven L. Maloy, Sr. VP, Mktg./Corp. Comm. Amt. arranged/committed by Region: Midwest: $75,000,000 Northeast: $105,000,000 Southeast: $115,000,000 Southwest: $35,000,000 West: $70,000,000
Lending goal 1998: $750 million
17* Dover House Capital LLC 400 Perimeter Center Terrace, #575 Atlanta GA 30346 Phone: (770) 351-8300 Fax: (770) 351-8399 WebSite: www.doverhouse.com Amt. Committed/Retail: $400 million Officers: Kelly L. Ray, CEO; Jim Watson, Exec. VP, Bob McComb; VP Mortgage Lending (Retail) Offices: San Francisco; Los Angeles; Dallas; Chicago; Charlotte, NC; Boston
Lending goal 1998: $2 billion (total commercial)
17* Heller Financial Inc. 500 W. Monroe St. Chicago, IL 60661 Phone: (312) 441-6700 Fax: (312) 441-7119 WebSite: www.hellerfin.com Amt. Committed/Retail: $350 million Officers: Michael Goldsmith, Group Pres.; Steve Schmidt, Sr. VP, Mgr., Credit Tenant Lease Program; Michael Lowinger, Exec. VP, National Mgr., Western Region; John Petrovski, Exec. VP, National Mgr., Central Region; Dittany Schlegman, Exec. VP, National Mgr., Eastern Region Offices: Atlanta; Boca Raton, FL; Costa Mesa, CA; Dallas; Denver; Los Angeles; Nashville, TN; New York; San Francisco
Major projects financed 1997: Sweetwater Square, San Diego, CA, Amount: $12.4 million; Quail Springs Marketplace, Oklahoma City, OK, Amount: $2.2 million; Bruno's, Mobile, AL, Amount: $6.2 million; Just For Feet, Colorado Springs, CO, Amount: $2.5 million
Lending goal 1998: $500 million
19* Northland Financial Co. 3600 W. 80th St., Suite 250 Minneapolis, MN 55431 Phone: (612) 921-8000 Fax: (612) 921-8021 Amt. Committed/Retail: $350 million Officers: Richard M. Stevenson, Pres./CEO; Edward Padilla, Exec. VP/Regional Mgr. Offices: St. Louis, MO; Kansas City, MO; Denver; Dallas; Houston; Phoenix; Los Angeles;San Francisco Amt. arranged/committed by Region: Midwest: $200,000,000 Southwest: $200,000,000 West: $200,000,000
Major projects financed 1997: Phoenix Corporate Center, Phoenix, AZ, Amount $27.5 million; Murrieta Town Center, Murrieta, CA, Amount: $20 million; Tacoma Place, Tacoma, WA, Amount: $19.5 million; Noland Fashion Square, Independence, MO, Amount: $18.525 million; Yoahan Plaza, Torrance, CA, Amount: $10.5 million; Northcourt Commons, Minneapolis, MN, Amount: $11.4 million
Lending goal 1998: $800 million
20 LaSalle National Bank 135 S. LaSalle St. Chicago, IL 60603 Phone: (312) 904-8323 Fax: (312) 904-6691 Amt. Committed/Retail: $342 million Officers: Breck Hanson, Exec. VP; Karen Case, Trish Kelly, Joe Perri (Intermediate Term Loans), Sr. VPs Offices: St. Louis, MO; Milwaukee, WI; Indianapolis Amt. arranged/committed by Region: Midwest: $342,000,000
Major projects financed 1997: Oak Park Shopping Center, Oak Park, IL; Century Mall, Chicago, IL; Elk Grove Towne Centre, Elk Grove, IL;
Lending goal 1998: $342 million
21 Liberty Mortgage Acceptance Corp. 400 Capitol Mall Sacramento, CA 95814 Phone: (916) 568-0100 Fax: (916) 568-0110 Website: www.libertymac.com Amt. Committed/Retail: $276.5 million Officers: Joseph F. Cunningham Jr., Pres.; Thomas Finch, Exec. VP/Mktg./Corp. Comm. Amt. arranged/committed by Region: Midwest: $114,200,000 Northeast $ 70,700,000 Southeast: $124,220,000 West: $23,600,000
Major projects financed 1997: Kmart, Jackson, MI, Amount: $5.5 million; Wal-Mart Center, Colorado Springs, CO, Amount: $3.747 million; Big Curve Shopping Center, Yuma, AZ, Amount: $6.072 million; Walgreen's/Universal Plaza, Orlando, FL, Amount: $8.4 million; Hannaford Brothers Supermarket, Richmond VA, Amount: $4.165 million; Bay Plaza Kmart, Bronx, NY, Amount: $10.7 million
Lending goal 1998: $400 million
22 Midland Loan Services L.P. 210 W. 10th St. Kansas City, MO 64105 Phone: (800) 746-4623 Fax: (816) 435-2326 WebSite: www.midlandls.com Amt. Committed/Retail: $194,256,250 Officers: Alan Atterbury, Pres./CEO; Clarence Krantz, Exec. VP; Jeff Johnson, Sr. VP, Mortgage Lending; Tim Mazzetti, Sr. VP, Mktg./Corp. Comm. Amt. arranged/committed by Region: Midwest: $40,000,000 Northeast: $22,000,000 Southeast: $20,000,000 Southwest: $40,000,000 West: $72,000,000
Lending goal 1998: $1.3 billion
23* Atherton Capital Inc. 1001 Baghill Drive San Bruno, CA 94066 Phone: (650) 827-7800 Fax: (650) 827-7950 Amt. Committed/Retail: $180 million Officers: Arthur P. Brazy Jr., Pres. Offices: Greenwich, CT; Dallas; Los Angeles; Minneapolis; Atlanta Amt. arranged/committed by Region: Midwest: $50,000,000 Northeast: $50,000,000 Southeast: $30,000,000 Southeast: $30,000,000 West: $20,000,000
Lending goal 1998: $375 million
25 Summit Bank 301 Carnegie Center Princeton, NJ 08543 Phone: (609) 520-6462 Fax: (609) 987-3240 WebSite: www.summitbank.com Amt. Committed/Retail: $150 million Officers: Christophe P. Terlizzi, Exec. VP; Michael Brown, Donald Blum, Raymond Kirschner, SVP Mortgage Lending; Michael Whartenby, VP Mktg., Capital Markets Offices: Blue Bell, PA; Cranford, NJ Amt. arranged/committed by Region: Northeast: $150,000,000 Major projects financed 1997: ACP Cross Keys, Turnersville, NJ, $24 million; Roxville Center, Ledgewood, NJ, $52 million; Indianhead Plaza, Dover Township, NJ, Amount: $18 million; Lauren Mall, Hazelton, PA, Amount: $20 million
23* Crestar Bank 919 E. Main St. Richmond, VA 23219 Phone: (804) 782-7245 Fax: (804) 782-7986 WebSite: www.crestar.com Amt. Committed/Retail: $150 million Officers: William G. Foster, Group Exec. VP; Kempton A. Shields, Sr. VP Offices: Baltimore, MD; Laurel, MD; Tysons Corner, VA, Roanoke, VA; Chesapeake, VA; Newport News, VA; Norfolk, VA Amt. arranged/committed by Region: Southeast: $150,000,000
25* Continental Wingate Capital 75 Central St. Boston, MA 02109 Phone: (617) 574-9000 Fax: (617) 482-2333 Amt. Committed/Retail: $120 million Officers: Todd Schuster, CEO; Michael Berman, Pres.; Susan W. Leff, Sr. VP/Dir. Originations/Mktg. Offices: Scottsdale, AZ; Portland, OR; Boca Raton, FL; San Francisco; New Orleans; Atlanta; Columbia, MD; Uniondale, NY; Cincinnati; Denver; Seattle Amt. arranged/committed by Region: Midwest: $25,000,000 Northeast: $25,000,000 Southeast: $75,000,000 Southwest: $25,000,000 West: $50,000,000
Major projects financed 1997: Arapahoe Shopping Center, Denver, CO, Amount: $13 million; Delavan Shopping Center, Delavan, WI, Amount: $5 million; Westvail Shopping Center, West Baraboo, WI, Amount: $4.6 million; Palm Glen Shopping Center, Phoenix, AZ, Amount: $9.5 million; Shoppes at Hunt Club, Apopka, FL, Amount: $3.4 million
Lending goal 1998: $200 million
25* First Security Commercial 150 S. Wacker Drive Chicago, IL Phone: (312) 425-9300 Fax: (312) 425-9366 Amt. Committed/Retail: $120 million Officers: David Jackson, Pres.; Michael Connolly, Barry Axelrod, John McNulty, Fred Schotte, Chuck Reiterman, David Wolter, Sandy Breitowich, SVPs Offices: New York; Boulder, CO; Phoenix; Atlanta; Los Angeles
Lending goal 1998: $800 million