2015 Year in Review - Ari Hirt

What was your most notable project, deal, transaction or professional achievement in 2015? One of our most notable 2015 transactions involved securing $309 million of debt to refinance a portfolio of California real estate assets owned by The Seligman Group. With a diverse composition, the portfolio was comprised of 23 different assets, including retail, industrial, flex, office and multifamily properties, spread out across Los Angeles, San Francisco and Orange County. Leveraging our bi-coastal team, we divided the portfolio into four separate pools and we were able to quickly secure several extremely competitive offers. We ultimately arranged favorable long-term financing with four different lenders. What real estate project, transaction, market trend or product had a significant impact on your industry in 2015? The historically low interest rates have had a profound impact on the industry, creating a competitive lending market. We’re also seeing an increasing number of developers making value-add office acquisitions in urban and suburban areas, and the financing of office properties has been a huge area of growth for us. How will you be supercharging your productivity in 2016? In 2016, we will continue to leverage our wide network of lenders to further grow our business. The application of technology will allow us to increase our efficiencies and create new opportunities to reach the next generation of developers, lenders and real estate financing influencers. What emerging trends will drive investment and development in 2016? CMBS widening spreads continues to be a hot topic. Lenders issued $94 billion in new loans last year and the expectation is that 2015 issuance will top $100 billion. New regulations are expected to impact CMBS lending next year (though the extent of the impact is not yet known). What will continue to be important in the next year is the basics of commercial lending – establishing really strong contacts and finding favorable financing for each and every project.