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Meridian Capital Group
Name: Carol Shelby
Title: Managing Director
Company Name: Meridian Capital Group
Years in real estate: 26
What real estate associations or organizations are you a member of? Mortgage Bankers Association, International Council of Shopping Centers
How have you navigated obstacles to achieve success in your career? In transactional real estate, obstacles come in a variety of forms and I think right now the most visible obstacle is knowing precisely where we are in the real estate cycle. Regardless, this presents an opportunity to understand what both clients and lenders are factoring into their underwriting and to use this information to help predict various potential outcomes and find solutions. In order to keep all of my deals moving forward, I constantly track my pipeline and know each deal intimately. This also helps when approaching the next opportunity.
How do you play your strengths to your advantage in your career? I had the advantage of learning the business from the ground up and experiencing every market cycle since 1991. Being well-informed, having years of experience, and establishing the right relationships are key to anyone’s success in real estate. But, these are all things that must be earned since there is no substitute for hard work.
What trends are you seeing so far this year? There is uncertainty in the current market and this is causing both the debt and equity capital providers to take a pause as they evaluate new lending and acquisition opportunities. As part of Meridian, I have tremendous access to real-time market information and stay in constant contact with lenders to know who will be most competitive at any given point in time for my clients. I recently negotiated a $150 million loan for a retail and office property in Midtown West. This large transaction demonstrates that even in a changing market if you have the right relationships there are opportunities.
What do you do for fun? I love to spend time with my family to recharge my batteries. I also enjoy world travel as a means to expand my horizons and draw inspiration from others.
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