News:
Spotlight Content
Posted: December 27, 2022
2022 Year in Review: Christian Galanti, Emerald Creek Capital
Managing Director, Co-Head of Acquisitions
Emerald Creek Capital
What person, project, transaction or market trend had the greatest impact on your industry this year? The rise in interest rates amidst elevated inflation and economic uncertainty has undoubtedly had a large impact on the sector. Fortunately, our existing investments continue to benefit from strong underlying market fundamentals. Overall, our equity fund is well-positioned with ample dry powder to take advantage of what we anticipate being attractive opportunities over the next 12-18 months.
What was your greatest professional accomplishment or most notable project, deal, or transaction in 2022? We recently sold a large industrial property in Jacksonville, which was our equity fund’s first realization and a great return for investors. We bought the property off-market at a very attractive basis with significantly below market in-place rents, which helped position the asset well for a sale.
How has your career path changed in 2022? After spending over eight years building the real estate platform at Paragon Outcomes, myself and Tom Hollins joined Emerald Creek together to co-lead the ECC equity platform.
Emerald Creek has a well-established real estate lending platform and having the opportunity to help build out a new vertical for the business has been an exciting and great experience for both of us.
Tags:
Spotlight Content
MORE FROM Spotlight Content
Over half of Long Island towns vote to exceed the tax cap - Here’s how owners can respond - by Brad and Sean Cronin
When New York permanently adopted the 2% property tax cap more than a decade ago, many owners hoped it would finally end the relentless climb in tax bills. But in the last couple of years, that “cap” has started to look more like a speed bump. Property owners are seeing taxes increase even when an
.png)
Quick Hits
.gif)
.jpg)
Columns and Thought Leadership
Properly serving a lien law Section 59 Demand - by Bret McCabe
Many attorneys operating within the construction space are familiar with the provisions of New York Lien Law, which allow for the discharge of a Mechanic’s Lien in the event the lienor does not commence an action to enforce following the service of a “Section 59 Demand”.
How much power does the NYC mayor really have over real estate policy? - by Ron Cohen
The mayor of New York City holds significant influence over real estate policy — but not absolute legislative power. Here’s how it breaks down:
Formal Legislative Role
• Limited direct lawmaking power: The NYC Council is the primary
The strategy of co-op busting in commercial real estate - by Robert Khodadadian
In New York City’s competitive real estate market, particularly in prime neighborhoods like Midtown Manhattan, investors are constantly seeking new ways to unlock property value. One such strategy — often overlooked but
Oldies but goodies: The value of long-term ownership in rent-stabilized assets - by Shallini Mehra
Active investors seeking rent-stabilized properties often gravitate toward buildings that have been held under long-term ownership — and for good reasons. These properties tend to be well-maintained, both physically and operationally, offering a level of stability
.gif)