With the correction in the CMBS market seemilngly over, lending institutions again seem anxious to loosen their purse strings.
The turmoil in the CMBS market in the fall of 1998 had a major impact on Shopping Center World's second annual ranking of the Top Retail Lenders. Many lenders that were holding loans to be securitized were caught off guard by a quick change in investor interest brought on by international economic woes.
The short-lived crisis forced cutbacks in aggregate loan amounts for several lenders and spelled trouble for others unable to sell the loans at prices high enough to meet the low margins they had set. But lenders able to find the correct balance between aggressiveness and conservatism in their underwriting were able to hang on and even thrive.
SCW's rankings reveal significant change. Some firms fell out of the rankings, others fell out of the lending business altogether, while still others merged and now operate under new names, such as Atlanta-based J.P. Morgan Mortgage Capital Inc., formerly Dover House Capital LLC.
Even when the names did not change, the numbers often did, as many lenders were far more conservative in their lending than originally planned. Although New York-based Lehman Brothers retained its position as the top direct retail lender, its total lending amount of $5 billion remained the same as 1997, and significantly less than its 1998 goal of $7.5 billion.
Eleven of the 17 direct lenders that reappeared in this year's ranking originated a smaller retail loan amount in 1998 than projected. This trend was likely a good strategy considering the fate of San Francisco-based Nomura Capital. One of the most aggressive commercial real estate lenders in early 1998, Nomura exited the business due to its exposure to the volatility in world financial markets.
Even with the loss of last year's second largest direct lender, Nomura, the ranking indicates that the larger companies have continued to consolidate. This year the top 10 direct lenders accounted for approximately $21.1 billion in loans, compared with last year when the top 10 accounted for only $16.7 billion.
Credit Suisse First Boston took Nomura's 2nd-place position this year and closed the gap considerably on Lehman Brothers, doubling its lending total from $2 billion to $4 billion.
Honors for the biggest climb in the rankings among direct lenders goes to Nations-Banc Montgomery Securities LLC, which moved from 11th place last year to 3rd place because of its merger with Bank of America Corp., the name under which it now operates. The lender increased its loan amount from $750 million to $2.3 billion.
The two largest newcomers to the ranking are New York-based TIAA (with $1.98 billion) and Horsham, Pa.-based GMAC Commercial Mortgage, ($1.39 billion), which placed 4th and 7th respectively.
Intermediaries Another newcomer to SCW's lender rankings, Holliday Fenoglio Fowler L.P., leads the Top 10 Intermediaries list with more than $2.48 billion in loans arranged. Houston-based L.J. Melody & Co., last year's 3rd-ranked firm, moved into 2nd place this year by arranging loans in excess of $2.29 billion. Last year's leader, USA Funding,is now 3rd, having arranged $830 million in loans during 1998.
Like the direct lenders, the intermediary lenders lost a major player last year as Daiwa Real Estate Finance Corp., New York, cut back its retail lending business. Daiwa had ranked 4th last year with $570 million in arranged loans.
Minneapolis-based Northland Financial Co., now under the name Northland/Marquette Capital Group Inc., moved from 6th to 4th in the new rankings as it increased its lending total from $250 million to $663 million.
1. Lehman Brothers
200 Vesey St,.
3 World Financial Center
New York, NY 10285
Phone: (212) 526-7000.
Fax: (212) 526-3738
Amt. Committed/Retail: $5 billion
Officers: Brett I. Ersoff, senior vice president; Larry Kravetz, senior vice president; Mark Walsh, managing director; Michael J. DeMarco, senior vice president; Michael J. Mazzei, managing director; Raymond C. Mikulich, managing director
Major Projects Financed 1998: Bayside Marketplace, Miami, FL, Amount: $63,000,000; Fashion Fair Mall, Fresno, CA, Amount: $69,000,000; Fashion Valley Mall, San Diego, CA, Amount: $225,000,000; Ontario Mills, Ontario, CA, Amount: $145,000,000; Rosedale Shopping Center, Rosedale, MN, Amount: N/A; Woodland Hills Mall, Tulsa, OK, Amount: $90,000,000
2. Credit Suisse First Boston
11 Madison Ave.
New York, NY 10010
Phone: (212) 325-3515
Fax: (212) 325-8185
Website: csfb.com
Amt. Committed/Retail: $4 billion
Officers: Andy Stone, managing director; Bill Adamski, managing director; Mike Finerman, managing director
Offices: National and global
Major Projects Financed 1998: 5520 Santa Monica, Los Angeles, CA, Amount: $2,000,000; Brandywine Town Center, Wilmington, DE, Amount: $23,000,000; Grand Union, Valatie, NY, Amount: $19,000,000; Kmart, Puerto Rico, Amount: $104,000,000; Pearl Highlands, Pearl City, HI, Amount: $50,000,000; Village Crossing, Skokie, IL, Amount: $30,000,000
Amt. Arranged/Committed by Region:
Midwest: $400,000,000
Northeast: $1,000,000,000
Southeast: $800,000,000
Southwest: $800,000,000
West: $1,000,000,000
Lending Goal 1999: $3.5 billion
3. Bank of America Corp./NationsBanc Montgomery Securities LLC
100 N. Tryoon St.,
Charlotte, NC 28255
Phone: (704) 388-1132
Fax: (704) 388-0098
Website: www.bankamerica.com
Amt. Committed/Retail: $2.3 billion
Officers: Bill Hodges, managing director, real estate; Mike Buchanan, managing director, real estate banking; Mike Malone, managing director, real estate investment banking ; William D. Simmerville, Jr., head of retail office and industrial program
Offices: Albuquerque, NM; Atlanta, GA; Austin, TX; Bakersfield, CA; Baltimore, MD; Boca Raton, FL; Boise, ID; Charleston, SC; Charlotte, NC; Chicago, IL; Columbia, SC; Dallas, TX; Denver, CO; Des Moines, IA; El Paso, TX; Ft. Lauderdale, FL; Greensboro, NC; Houston, TX; Irvine, CA; Jacksonville, FL; Kansas City, KS; Kansas City, MO; Las Vegas, NV; Little Rock, AK; Los Angeles, CA; McLean, VA; Miami, FL; Minneapolis, MN; New York, NY; Norfolk, VA; Oklahoma City, OK; Orange County, CA; Orlando, FL; Phoenix, AZ; Portland, OR; Raleigh, NC; Richmond, VA; San Antonio, TX; San Diego, CA; San Francisco, CA; San Jose, CA; Seattle, WA; Spokane, WA; St. Louis, MO; St. Petersburg, FL; Tampa, FL; Tulsa, OK; Wichita, KS
Major Projects Financed 1998: Corridor Marketplace, Laurel, MD, Amount: $32,887,200; Flagler Park Plaza, Miami, FL, Amount: $30,000,000; Granada Hills Town Center, Los Angeles, CA, Amount: $27,732,649; International Home Furnishing Center, High Point, NC, Amount: $75,000,000; Summit Shopping Center, Birmingham, AL, Amount: $51,000,000
Amt. Arranged/Committed by Region:
Midwest: $153,600,000
Northeast: $157,000,000
Southeast: $841,500,000
Southwest: $281,900,000
West: $275,700,000
Lending Goal 1999: $1.5 billion
4. TIAA
730 Third Ave.
New York, NY 10017
Phone: (212) 916-4144
Fax: (212) 916-6005
Amt. Committed/Retail: $1.98 billion
Officers: Alice Connell, managing director; James Easler, managing director; Joseph Luik, senior managing director; Kathleen Nelson, managing director; Kevin Riordan, managing director; Phillip DiGennaro, managing director; Thomas Garbutt, managing director
Major Projects Financed 1998: Altamonte Mall, Orlando, FL, Amount: $125,000,000; Cielo Vista Mall, El Paso, TX, Amount: $66,000,000; Coral Ridge, Iowa City, IA, Amount: $82,000,000; Hanes Mall, Winston-Salem, NC, Amount: $123,000,000; Mall of Georgia, Atlanta, GA, Amount: $100,000,000; Southcenter, Seattle, WA, Amount: $95,000,000; Spring Hill Mall, Chicago, IL, Amount: $92,000,000
Amt. Arranged/Committed by Region:
Midwest: $924,723,525
Northeast: $40,850,000
Southeast: $591,570,779
Southwest: $113,000,000
West: $311,050,000
Lending Goal 1999: $2 billion
5*. First Union
301 South College St. SC-6
Charlotte, NC 28288-0166
Phone: (888) 217-9084
Fax: (704) 374-6345
Website: www.firstunion.com
Amt. Committed/Retail: $1.8 billion
Officers: Bill Whalen, regional sales manager, San Francisco; Brett Smith, director national accounts, Carolinas; Chris Troutman, regional sales manager, McLean, VA; Clay Wright, regional sales manager, Southwest; David Hall, regional sales manager, Midwest; Gary Butts, regional sales manager, Georgia; Ian Williams, regional sales manager, Los Angeles; Keith Wells, regional sales manager, Richmond, VA.; Mark Osgood, regional sales manager, Irvine, CA.; Robin Carr, regional sales manager, Florida.; Ron Shapiro, regional sales manager, NJ; Rory Hertzog, regional sales manager, Pennsylvania and Delaware; Tim Hallock, regional sales manager, Connecticut and New York
Offices: Atlanta, GA; Boca Raton, FL; Charlotte, NC; Houston, TX; Irvine, CA; Jacksonville, FL; Los Angeles, CA; McLean, VA; Orlando, FL; Philadelphia, PA; Richmond, VA; Rosemont, IL; San Francisco, CA; Stamford, CT; Union, NJ
Major Projects Financed 1998: Cabin John Shopping Center, Potomac, MD, Amount: $25,000,000; Inland Empire Center, Fontana, CA, Amount: $21,525,000; Manor Shopping Center, Lancaster, PA, Amount: $15,200,000; Monroe Mall, Monroe, AL, Amount: $15,800,000; Panama City Square, Panama City, FL, Amount: $13,360,000; Phillips Place, Charlotte, NC, Amount: $25,350,000; Valley East Plaza, Mesa, AZ, Amount: $10,300,000
Lending Goal 1999: $2.5 billion
5*.Wells Fargo Bank
555 Montgomery St., 17th floor
San Francisco, CA 94111
Phone: (888) 777-0067
Fax: (415)362-8364
Website: www.wellsfargo.com
Amt. Committed/Retail:
$1.8 billion
Officers: Jerry Blakey, senior vice president; Jim McDevit, vice president and regional origination manager
Offices: Los Angeles, CA; Irvine, CA; San Diego, CA; San Francisco, CA; Fair Oaks, CA; Denver, Co; Chicago, IL; Houston, TX; Dallas, TX; Atlanta, GA; Washington, D.C.; Minneapolis, MN
Amt. Arranged/Committed by Region:
Midwest: $100,100,000
Northeast: $30,100,000
Southeast: $73,100,000
Southwest: $280,100,000
West: $855,000,000
Lending Goal 1999: $3 billion
7. GMAC Commercial Mortgage
650 Dresher Road
Horsham, PA 19044-8015
Phone: (215) 328-4622
Fax: (215) 328-1976
Website: www.gmaccm.com
Amt. Committed/Retail:
$1.39 billion
Officers: Charles E. Dunleavy, Jr., executive vice president; David E. Creamer, president; Hal Purcell, vice president mortgage lending (retail); Scott Rombach, vice president marketing/corporate communications.
Offices: Atlanta, GA; Birmingham, AL; Boston, MA; Bridgewater, VA; Chicago, IL; Dallas, TX; Denver, CO; Des Moines, IA; Detroit, MI; Evanston, WY; Grand Rapids, MI; Houston, TX; Indianapolis, IN; Jacksonville, FL; Kansas City, KS; Louisville, KY; Marion, IN; Miami, FL; Milwaukee, WI; Minneapolis, MN; New York, NY; Newport Beach, CA; Omaha, NE; Orlando, FL; Pasadena, CA; Philadelphia, PA; Phoenix, AZ; Portland, OR; Red Bank, NJ; Richmond, VA; Rochester, NY; Sacramento, CA; San Diego, CA; San Francisco, CA; Seattle, WA; St. Louis, MO; Tampa, FL; Tokyo; Torrance, CA; Virginia Beach, VA; Washington, D.C.; West Hartford, CT
Major Projects Financed 1998: Aquia Town Center, Aquia, VA, Amount: $15,225,000; Eastwood Village Shopping Center, Des Moines, IA, Amount: $6,500,000; Marketplace at River Park, Fresno, CA, Amount: $25,500,000; Richland Crossing Shopping Center, Richland, PA, Amount: $20,100,000; Salt Pond Plaza, Narragansett, RI, Amount: $15,700,000; The Citadel, City of Commerce, CA, Amount: $28,000,000
Lending Goal 1999: $2 billion
8. CIBC World Markets
1 World Financial Center
New York, NY 10281
Phone: (888) 411-CIBC
Faz: (212) 571-4714
Amt. Committed/Retail: $1.3 billion
Officers: Andrew Kleinberg, executive director; Anthony Tuffy, managing director; Barrie Wood, managing director; Michael Higgins, managing director
Offices: Atlanta, GA; Chicago, IL; Dallas, TX; Los Angeles, CA
Major Projects Financed 1998: Chelsea Market, New York, NY, Amount: $50,000,000; Landmark Center, Boston, MA, Amount: $85,000,000; Orange City Mills, Orange, CA, Amount: $25,000,000; Oviedo Marketplace, Orlando, FL, Amount: $76,000,000; Palisades Power Center, W. Nyack, NY, Amount: $390,000,000; Westland Mall, Johnstown, PA, Amount: $57,170,000
Lending Goal 1999: $2.5 billion
9. KeyBank National Association
127 Public Square
Cleveland, OH 44144
Phone: (216) 689-3574
Fax: (216) 689-3566
Website: www.key.com/cre
Amt. Committed/Retail: $1.26 billion
Officers: George E. Emmons Jr., executive vice president and national executive; Norman Nichols Jr., senior vice president and eastern regional manager; Randall Stickler, senior vice president, manager of Key Commercial Mortgage; Renee Rush Csuhran, senior vice president, Midwest regional manager ; Robert MacDonald, vice president, business development director; Robert W. Gillespie, Chairman/CEO; Roberta Fuhr, senior vice president, western regional manager
Offices: Albany, NY; Anchorage, AK; Ann Arbor, MI; Boston, MA; Buffalo, NY; Chicago, IL; Cincinnati, OH; Cleveland, OH; Columbus, OH; Dallas, TX; Denver, CO; Fort Collins, CO; Indianapolis, IN; Las Vegas, NV; Los Angeles, CA; Portland, OR; Salt Lake City, UT; San Francisco, CA; Seattle, WA; Syracuse, NY; Vancouver, WA; Washington, DC; White Plains, NY
Major Projects Financed 1998: Baldwin Commons, Auburn Hills, MI, Amount: $39,900,000; CVS, construction financing for 12 projects in Midwest, Amount: $26,000,000; Gardiner Manor Mall, West Bayshore, NY, Amount: $36,520,000; Gustine Company, construction financing for power center, Washington, PA, Amount: $27,000,000; OfficeMax, construction financing for six stores, various states, Amount: $15,000,000; Palladium at City Place, West Palm Beach, FL, Amount: $105,000,000; Puente Hills Mall, City of Industry, CA, Amount: $80,000,000; Rite Aid, construction financing for 19 stores in Midwest, Amount: $35,000,000
Amt. Arranged/Committed by Region:
Midwest: $580,000,000
Northeast: $415,000,000
West: $175,000,000
Lending Goal 1999: $7.2 billion
10. Goldman, Sachs & Co.
85 Broad St., 23rd Floor
New York, NY 10004
Phone: (212)902-5900
Fax: (212) 346-3595
Website: www.gs.com
Amt. Committed/Retail: $1.11 billion
Officers: Jeff Fastov, vice president and COO, CMBS Effort; Mark Tercek, managing director and head of real estate investment banking; Mark Weiss, managing director, marketing; P. Sheridan Schechner, managing director and head of CMBS effort
Offices: Atlanta, GA; Chicago, IL; Dallas, TX; Los Angeles, CA
Major Projects Financed 1998: Factory Stores, Hershey, PA, Amount: $25,600,000; Green Acres Mall, Valley Stream, NY, Amount: $160,000,000; Merchandise Mart, Chicago, IL, Amount: $250,000,000; Pier 39, San Francisco, CA, Amount: N/A; Showcase Mall, Las Vegas, NV, Amount: $79,500,000; Westport Plaza, St. Louis, MO, Amount: $7,500,000
Amt. Arranged/Committed by Region:
Midwest: $257,500,000
Northeast: $207,800,000
Southwest: $196,500,000
Lending Goal 1999: $1.2 billion
11. Fleet Bank
75 State St.,
Boston, MA 02109
Phone: (346-2874
Fax: (617) 346-3220
Website: www.fleet.com
Amt. Committed/Retail: $1 billion
Officers: Aron Levine, relationship manager; Peg Mulcahy, senior relationship manager; Tom Harold, relationship manager
Offices: nationwide
12. GE Capital Real Estate
292 Long Ridge Road
Stamford, CT 06927
Phone: (888) 433-4778
Fax: (312) 781-7840
Website: www.gecapitalrealestate.com
Amt. Committed/Retail: $780 million
Officers: Kathy Cassidy, senior vice president of capital markets; Paul Borghard, senior vice president of lending and investing; Peter Dubner, senior vice president of marketing; Ron Pressman, president
Offices: Atlanta, GA; Boca Raton, FL; Boston, MA; Charlotte, NC; Chicago, IL; Cincinnati, OH; Dallas, TX; Denver, CO; Frankfurt, Germany; Houston, TX; Irvine, CA; London, England; Los Angeles, CA; Madrid, Spain; Mexico City, Mexico; New York, NY; Overland Park, KS; Paris, France; Philadelphia, PA; Phoenix, AZ; San Francisco, CA; Seattle, WA; Stockholm, Sweden; Sydney, Australia; Tokyo, Japan; Toronto, Canada.; Vienna, Austria; Washington, DC
13. FINOVA Realty Capital
19900 MacArthur Blvd. Ste. 1100
Irvine, CA 92612
AMT. Committed/Retail: $750 Million
Officers: Bill Campbell, managing director/structured finance; Dave Rogers, managing director/capital markets; Dianne Katscher, managing director/portfolio lending; Don Campbell, managing director/equity program; Jeff Tomei, managing director/direct lending CMBS program; R.J. Brandes, executive managing director; Robert Brunswick, managing director/originations and marketing
Offices: Annapolis, MD; Atlanta, GA; Austin, TX; Boston, MA; Chicago, IL; Cleveland, OH; Dallas, TX; Denver, CO; Ft. Lauderdale, FL; Hartford, CT; Jacksonville, FL; Las Vegas, NV; Los Angeles, CA; Minneapolis, MN; Mt. Laurel, NJ; Nashville, TN; New York, NY; Philadelphia, PA; Phoenix, AZ; Portland, OR; Salt Lake City, UT; San Diego, CA; San Francisco, CA; Seattle, WA; Tampa, FL; Walnut Creek, CA
Amt. Arranged/Committed by Region:
Midwest: $160,000,000
Northeast: $73,000,000
Southeast: $117,000,000
Southwest: $10,000,000
West: $390,000,000
Lending Goal 1999: $3.5 billion
14. Capital Lease Funding L.P.
110 Maiden Lane, 36th Floor
New York, NY 10005
Phone: (212) 217-6300
Fax: (212) 217-6301
Website: www.caplease.com
Amt. Committed/Retail: $450 million
Officers: Edwin J. Glickman, executive vice president; Paul H. McDowell, senior vice president/general counsel; Steven L. Maloy, senior vice president/sales and marketing; William R. Pollert, president/CEO
Offices: Scottsdale, AZ
Amt. Arranged/Committed by Region:
Midwest: $150,000,000
Northeast: $185,000,000
Southeast: $200,000,000
Southwest: $95,000,000
West: $75,000,000
Lending Goal 1999: $900 million
15. Bear, Stearns & Co. Inc.
245 Park Ave.
New York, NY 10167
Phone: (212) 272-6104
Fax: (212) 272-7047
Website: www.bear.com
Amt. Committed/Retail: $447 million
Officers: Barry Schumacher, managing director; Gregory J. Spevok, director of originations; J. Christopher Hoeffel, managing director; Ralph Rose, managing director
Offices: Chicago, IL; Los Angeles, CA
Major Projects Financed 1998: Airport Thruway Plaza, Columbus, GA, Amount: $5,800,000; Hancock Plaza, Phoenix, AZ, Amount: $4,505,000; Kingsbury Square, Kingstown, MA, Amount: $5,000,000; South Bay Marketplace, San Diego, CA, Amount: $11,600,000; The Arbor Plaza, Saginaw, MI, Amount: $2,200,000; Timonium Crossing Shopping Center, Timonium, MD, Amount: $5,600,000
Amt. Arranged/Committed by Region:
Midwest: $53,600,000
Northeast: $134,100,000
Southeast: $80,500,000
Southwest: $54,000,000
West: $124,800,000
Lending Goal 1999: $1.8 billion
16. TransAtlantic Capital Co.
21 W. 52nd St., 10019
Phone: (888) 90-TRANS
Fax: (212) 469-8976
Website: www.transcap.com
Amt. Committed/Retail: $366 million
Officers: Dean L. Britton, managing director and COO; Drew Anderman, senior vice president (New York); Hal Steele, senior vice president (San Francisco); James Howard, managing director and CFO; Louis Mirando, managing director and CEO; Thomas Borow, senior vice president (Chicago)
Offices: Chicago, IL; San Francisco, CA
Major Projects Financed 1998: Best Buy Plaza, Pembroke Pines, FL, Amount: $11,925,000; Cal Oaks Plaza, Murietta, CA, Amount: $13,900,000; Charleston Commons Shopping Center, Las Vegas, NV, Amount: $23,350,000; Richmond Mall, Richmond, KY, Amount: $16,000,000; Takoma/Langley, Takoma Park, MD, Amount: $11,250,000; Trainer Shopping Center, various communities, PA, Amount: $17,275,000
Amt. Arranged/Committed by Region:
Midwest: $61,000,000
Northeast: $68,000,000
Southeast: $34,000,000
Southwest: $8,000,000
West: $116,000,000
17. J.P. Morgan Mortgage Capital Inc.
400 Perimeter Center Terrace, Suite 575
Atlanta, GA 30346
Phone: (770) 351-8300
Fax: (770) 351-8389
ebsite: www.jpmorgan.com/mortgage
Amt. Committed/Retail: $270 million
Officers: Lamar C. Kelly, Jr., president and CEO
Offices: Boston, MA; Charlotte, NC; Chicago, IL; Dallas, TX; Denver, CO; Grand Rapids, MI; Los Angeles, CA; New York, NY; San Francisco, CA; Washington, DC
Amt. Arranged/Committed by Region:
Midwest: $76,000,000
Northeast: $18,000,000
Southeast: $81,000,000
Southwest: $16,000,000
West: $79,000,000
18.* Falcon Financial LLC
2015 W. Main Street
Stamford, CT 06902
Phone: (203) 967-0000
Fax: (203) 967-1717
Website: www.falconfinancial.com
Amt. Committed/Retail: $200 million
Officers: David A. Karp, COO; Ronald Greenspan, executive vice president, marketing
Offices: San Diego, CA
Lending Goal 1999: $300 million
18.*Paine Webber Real Estate Securities, Inc.
1285 Ave. of the Americas, 19th Floor
New York, NY 10019
Phone: (212) 713-9461
Fax: (212) 713-3006
Amt. Committed/Retail: $200 million
Officers: David A. Cohen, vice president; Jerome Ellis, vice president; John Taylor, managing director commercial real estate (debt); Kellogg C. Gaines, vice president; Ron J. Wechsler, managing director conduit
Lending Goal 1999: $2 billion
20. Northland/Marquette Capital Group, Inc.
3500 w. 80th St., Suite 500
Minneapolis, MN 55431
Phone: (612) 356-0100
Fax: (612) 356-0099
Amt. Committed/Retail: $177 million
Officers: Edward Padilla, executive vice president, regional manager; Richard M. Stevenson, president/CEO
Offices: Chicago, IL; Dallas, TX; Denver, CO; Houston, TX; Kansas City, MO; Los Angeles, CA; Minneapolis, MN; Phoenix, AZ; St. Louis, MO; San Diego, CA; San Francisco, CA
Major Projects Financed 1998: Fullerton University Shopping Center, Fullerton, CA, Amount: $8,200,000; Hollister Point Centre, Houston, TX, Amount: $7,700,000; Market Place, St. Louis, MO, Amount: $11,000,000; Randall Park Mall, N. Randall, OH, Amount: $35,000,000; Valley Square, Lewisville, TX, Amount: $6,600,000; Village Center at Rose, Placentia, CA, Amount: $11,750,000; Webrenberg Theatres, St. Louis, MO, Amount: $32,000,000
Amt. Arranged/Committed by Region:
Midwest: $320,000,000
Southwest: $186,000,000
West: $334,000,000
Lending Goal 1999: $1 billion
21. Midland Loan Services Inc.
210 W. 10th Street.
Kansas City, MO 64105
Phone: (816- 435-5000
Fax: (816) 435-2326
Website: www.midlandls.com
Amt. Committed/Retail: $141 million
Officers: Alan Atterbury, president/CEO; Lee Bergman, executive vice president/COO; Steve Miller, senior vice president, mortgage lending; Tim Mazzetti, senior vice president, marketing
Offices: Atlanta, GA; East Brunswick, NJ; Kansas City, MO; Philadelphia, PA; Phoenix, AZ; Pittsburgh, PA; Washington, D.C.
Amt. Arranged/Committed by Region:
Midwest: $30,000,000
Northeast: $30,000,000
Southeast: $14,000,000
Southwest: $20,000,000
West: $40,000,000
Lending Goal 1999: $1.5 billion
22. First Security Commercial Mortgage
150 S. Wacker Drive
Chicago, IL 60606
Phone: (312) 425-9300
Fax: (312) 425-9366
Website: www.midlandls.com
Amt. Committed/Retail: $141 million
Officers: Alan Atterbury, president/CEO; Lee Bergman, executive vice president/COO; Steve Miller, senior vice president, mortgage lending; Tim Mazzetti, senior vice president, marketing
Offices: Atlanta, GA; East Brunswick, NJ; Kansas City, MO; Philadelphia, PA; Phoenix, AZ; Pittsburgh, PA; Washington, D.C.
Amt. Arranged/Committed by Region:
Midwest: $30,000,000
Northeast: $30,000,000
Southeast: $14,000,000
Southwest: $20,000,000
West: $40,000,000
Lending Goal 1999: $1.5 billion
24. Llama Capital Mortgage Co.
301 Clematis St., Suite 3000
West Palm Beach, FL 33401
Phone: (561) 832-8480
Fax: (561) 655-3202
Amt. Committed/Retail:
$108 million
Officers: Jordan Paul, president; Christian Bezick, managing director; Richard Bosworth, managing director
Offices: Boston, MA
Major Projects Financed 1998:
335 Washington St., Woburn, MA, Amount: $5,300,000; 901 Broadway, Saugus, MA, Amount: $5,000,000; Souderton Square Shopping Center, Souderton, PA, Amount: $3,000,000; Stop & Shop, Attleboro, MA, Amount: $10,600,000; Wichita Square Shopping Center, Wichita Falls, TX, Amount: $4,125,000
Amt. Arranged/Committed by Region:
Midwest: $4,100,000
Northeast: $71,595,000
Southeast: $3,415,000
Southwest: $15,713,000
West: $13,384,000
25. Continental Wingate Capital
63 Kendrick St.
Needham, MA 02494
Phone: (800) 332-0372
Fax: (781) 707- 9399
Website: www.cwcapital.com
Amt. Committed/Retail: $95 million
Officers: Michael Berman, president; Steve Walker, vice president mortgage lending
(Retail); Todd Schuster, CEO
Offices: Atlanta, GA; Columbia, MD; Ft. Lauderdale, FL; Los Angeles, CA; New
Orleans, LA; Phoenix, AZ; Portland, OR;
San Francisco, CA; Seattle, WA
Major Projects Financed 1998: 942 Hyde Park Ave, Boston, MA, Amount: $4,400,000; Parsons Village Shopping Center, Seffner, FL, Amount: $2,860,000; Peachtree Center Shopping Center, Atlanta, GA, Amount: $8,000,000; Raymour & Flanagan, Quakertown, PA, Amount: $2,700,000; Sunset Plaza Shopping Center, Lutz, FL, Amount: $5,800,000
Lending Goal 1999: $200 million
10 Top Intermediaries 1. Holliday Fenoglio Fowler, L.P.
8750 NOrth Central Expressway, Suite 950
Dallas, TX 75231
Phone: (214) 265-0880
Fax: (214) 265-1686
Website: www.hollidayfenoglio.com
Amt. Arranged/Retail: $2.48 billion
Officers: Joe B. Thornton, Jr., executive managing partner; John H. Pelusi, executive managing partner; John P. Fowler, executive managing partner; Mark D. Gibson, executive managing partner
Offices: Albany, NY; Atlanta, GA; Boca Raton, FL; Boston, MA; Buffalo, NY; Century City, CA; Dallas, TX; Edison, NJ; Hartford, CT; Houston, TX; Indianapolis, IN; Lexington, KY; Louisville, KY; Merrillville, IN; Miami, FL; New York, NY; Newport Beach, CA; Orlando, FL; Pittsburgh, PA; Portland, OR; Rochester, NY; Saddlebrook, NJ; San Diego, CA; Westport, CT
Major Projects Financed 1998: Hudson Valley Mall, Kingston, NY, Amount: $58,600,000; Oxmoor Center, Louisville, KY, Amount: $40,000,000; Providence Place, Providence, RI, Amount: $65,000,000; Rye Ridge Shopping Center, Rye, NY, Amount: $38,000,000; University Mall, Burlington, VT, Amount: $42,000,000
Amt. Arranged/Committed by Region:
Midwest: $256,790,000
Northeast: $1,092,376,000
Southeast: $281,480,608
Southwest: $696,774,823
West: $155,175,000
2. L. J. Melody & Co.
5847 San Felipe, Suite 4400
Houston, TX 77057
Phone: (713) 787-1900
Fax: (713) 1998
Website: www.ljmelody.com
Amt.Arranged/Retail:
$2.29 billion
Officers: Brian F. Stoffers, executive vice president; Lawrence J. Melody, president
Offices: Atlanta, GA; Austin, TX; Bethesda, MD; Charlotte, NC; Chicago, IL; Dallas, TX; Denver, CO; Houston, TX; Los Angeles, CA; Miami, FL; New York, NY; Newport, CA; Oakland, CA; Orlando, FL; Phoenix, AZ; Pittsburgh, PA; Portland, OR; Sacramento, CA; San Diego, CA; San Francisco, CA; Seattle, WA; Tampa, FL; Teaneck, NJ
Major Projects Financed 1998: Foothills Fashion Mall, Ft. Collins, CO, Amount: $49,000,000; Hawaii Kai Center, Honolulu, HI, Amount: $14,400,000; Meyerland Plaza, Houston, TX, Amount: $62,000,000; Pillsbury Center, Minneapolis, MN, Amount: $95,000,000; The Mall at Greenhills, Nashville, TN, Amount: $65,000,000; Westchester Power Center, Yonkers, NY, Amount: $51,000,000
3. USA Funding Inc.
108 W. Carmel Drive
Carmel, IN 46032
Phone: (317) 818-9999
Fax: (317) 818-9995
Website: www.usafunding.com
Amt. Arranged/Retail: $830 million
Officers: Michael D. Surber, president
Lending Goal 1999: $1.2 billion
4. Northland/Marquette Capital Group, Inc.
3500 W. 80th St. Suite 500
Minneapolis, MN 55431
Phone: (612) 356-0100
Fax: (612) 356-0099
Amt. Arranged/Retail: $663 million
Officers: Edward Padilla, executive vice president, regional manager; Richard M. Stevenson, president/CEO
Offices: Chicago, IL; Dallas, TX; Denver, CO; Houston, TX; Kansas City, MO; Los Angeles, CA; Minneapolis, MN; Phoenix, AZ; Saint Louis, MO; San Diego, CA; San Francisco, CA
Major Projects Financed 1998: Fullerton University Shopping Center, Fullerton, CA, Amount: $8,200,000; Hollister Point Centre, Houston, TX, Amount: $7,700,000; Market Place, St. Louis, MO, Amount: $11,000,000; Randall Park Mall, N. Randall, OH, Amount: $35,000,000; Valley Square, Lewisville, TX, Amount: $6,600,000; Village Center at Rose, Placentia, CA, Amount: $11,750,000; Webrenberg Theatres, St. Louis, MO, Amount: $32,000,000
Amt. Arranged/Committed by Region:
Midwest: $320,000,000
Southwest: $186,000,000
West: $334,000,000
Lending Goal 1999: $1 billion
5. Ackman-Ziff Real Estate Group LLC
110 E, 42nd Street
New York, NY 10017
Phone: (212) 697-3333
Fax: (212) 682-8927
Website: www.ackmanziff.com
Amt. Arranged/Retail: $430 million
Officers: Lawrence Ackman, chairman; Simon Ziff, president
Offices: Chicago, IL
Major Projects Financed 1998: 30 Arch Street, Boston, MA, Amount: $30,000,000; Caldor/Shop Rite, Neptune, NJ, Amount: $16,000,000; Iowa Mall Portfolio, IA, Amount: $72,000,000; MacArthur Portfolio, New York, NY, Amount: $25,000,000; Mall Del Norte, Laredo, TX, Amount: $57,000,000; Texas Mall Portfolio, Abilene, TX, Amount: $43,800,000
Amt. Arranged/Committed by Region:
Midwest: $107,500,000
Northeast: $129,000,000
Southeast: $21,500,000
Southwest: $129,000,000
West: $43,000,000
Lending Goal 1999: $500 million
6. Sonnenblick-Goldman Co.
712 Fifth Ave.
New York, NY 10019
Phone: (212) 841-9200
Fax: (212) 262-4224
Website: www.sonngold.com
Amt. Arranged/Retail:
$400 million
Officers: Andrew Oliver, managing director (retail); John Bralower, president; Kim Moffitt, director of marketing; Paul M. Stern, managing director
Offices: Denver, CO; Hong Kong; Los Angeles, CA; Miami, FL; San Francisco, CA; Singapore;Washington, D.C.
Major Projects Financed 1998:Bridgemarket, New York, NY, Amount: $18,000,000; Kips Bay, New York, NY, Amount: $50,000,000; Pier 39, San Francisco, CA, Amount: $116,000,000
Amt. Arranged/Committed by Region:
Midwest: $25,000,000
Northeast: $175,000,000
Southeast: $50,000,000
West: $150,000,000
Lending Goal 1999: $1 billion
7. Johnson Capital Group Inc.
18500 Von Karman Ave., Suite 500
Irvine, CA 92612
Phone: (949) 660-1999
Fax: (949) 660-1999
Fax: (949) 660-1998
Website: www.johnsoncapital.com
Amt. Arranged/Retail: $329 million
Officers: Guy K. Johnson, president; Dana Ostenson, senior vice president; Larry Beech, senior vice president; Karl Owens, senior vice president; Gregory J. West, senior vice president; Amos Smith, senior vice president; Richard Caterina, senior vice president; Kevin Burkhalter, senior vice president
Offices: Los Angeles, CA; Phoenix, AZ; Salt Lake City, UT; San Diego, CA
Major Projects Financed 1998: Kmart Portfolio, UT, Amount: $14,500,000; Ocean Ranch and Laguna Heights, Dana Point, CA, Amount: $32,500,000; Scottsdale Horizon, Scottsdale, AZ, Amount: $8,500,000; Sumerlin Gateway, Las Vegas, NV, Amount: $19,000,000; Valencia Marketplace I and II, Valencia, CA, Amount: $83,050,000; Village Fair North, Paradise Valley, AZ, Amount: $12,500,000; Westlake Village, Westlake, CA, Amount: $39,000,000
Amt. Arranged/Committed by Region:
West/Southwest: $329 million
Lending Goal 1999: $1.2 billion
8. Capital Network Advisors Inc.
26302 La Paz Road, Suite 215
Mission Viejo, CA 92691
Phone: (949) 830-3635
Fax: (949) 830-2948
Amt. Arranged/Retail: $100 million
Officers: William Dugan, president
Major Projects Financed 1998: Best Plaza, Ventura, CA, Amount: $4,000,000; Gateway Plaza, San Diego, CA, Amount: $5,700,000; Grass Valley Center, Grass Valley, CA, Amount: $9,000,000; Laguna Hills Plaza, Laguna Hills, CA, Amount: $8,575,000; Pahrump Valley Junction, Pahrump, NV, Amount: $12,900,000; Village At The Oaks, Bakersfield, CA, Amount: $4,050,000; Woodward Pavillions Center, Fresno, CA, Amount: $4,150,000
Amt. Arranged/Committed by Region:
West: $100,000,000
Lending Goal 1999: $150 million
9. David Cronheim Mortgage Corp.
205 Main St.
Chatham, NJ 07928
Phone: (973) 635-6800
Fax: (973) 635-6091
Website: www.cronheimmort.com
Amt. Arranged/Retail: $99.25 million
Officers: Andrew Stewart, executive managing director; Charles Dodge, president
Offices: Stamford, CT
Major Projects Financed 1998:Denver Shopping Center portfolio, CO, MO, KS and MD, Amount: $67,200,000; Palmer Center, New Rochelle, NY, Amount: $17,143,000; Westridge Square Shopping Center, Frederick, MD, Amount: $19,200,000
Amt. Arranged/Committed by Region:
Midwest: $5,200,000
Northeast: $94,054,000
Lending Goal 1999: $50 million
10. Aztec Group Inc.
2665 S. Bayshore Drive, Penthouse 2A
Miami, FL 33133
Phone: (305) 854-7342
Fax: (305) 854-9795
Amt. Arranged/Retail: $72 million
Officers: Christian Johannsen, senior vice president; Ezra Katz, chairman and CEO; Lang Baumgarten, managing director; Tom Duncan, president and COO
Major Projects Financed 1998: Aventura Commons, Aventura, FL, Amount: $14,500,000; Best Buy Plaza, Pembroke Pines, FL, Amount: $11,925,000; Brandsmart, Miami, FL, Amount: $9,300,000; Marketfair, Fayetteville, NC, Amount: $7,800,000; Saglo Portfolio, Miami and Ft. Lauderdale, FL, Amount: $13,000,000; Vista Shopping Center, Miami, FL, Amount: $9,700,000
Amt. Arranged/Committed by Region:
Midwest: $5,700,000
Southeast: $66,300,000