JEMB Realty launches Basis Investment Group

According to Morris Bailey and Joseph Jerome, founding principals at JEMB Realty, an experienced real estate owner, developer and management company, has launched Basis Investment Group LLC, to capitalize on the unprecedented opportunities in the debt market. Finance veteran Tammy Heyman, who previously directed CWCapital's fixed and floating rate Capital Markets Lending Division, will serve as president of the new venture. Basis Investment Group is a debt investment platform that acquires and originates high-yield performing and distressed whole loans, mezzanine loans, B notes, gap equity and select CMBS investments on behalf of its clients. In addition to debt investment, Basis Investment Group will provide origination, lending and underwriting support to third parties on a separate account basis. "Our track record and formidable resources, combined with the proven leadership of Tammy Heyman make Basis Investment Group an immediate impact player in this market, where investor confidence is low and capital is scarce," said Bailey. Heyman and the Basis Investment Group management team have originated and securitized in excess of $30 billion of fixed, floating rate and mezzanine debt products over the last decade, while JEMB Realty operates more than 7.2 million s/f of real estate in North America and has deep entrepreneurial roots extending over 30 years. In her role as president, Heyman will build the debt investment platform, raise and deploy capital, as well as develop, manage and oversee the company's operations. She brings more than 20 years of experience in the commercial real estate finance industry, a solid record of building and growing debt platforms and a well developed strategic view of this business. "Tammy Heyman and the Basis Investment Group are tremendous additions to the JEMB family," said Jerome, president of JEMB Realty. "We needed someone who had the experience of running a business, the understanding of today's challenging investment climate and the ability to see and create opportunities where others could not. Heyman is uniquely talented and shares our mission and vision." "I am excited about the opportunity to partner with JEMB Realty Corp. and in particular to benefit from the wisdom and experience of entrepreneurs like Bailey and Jerome as we build the Basis Investment Group platform," said Heyman. "This is an ideal time to extend the reach of JEMB to launch a debt investment arm. Achieving 'equity like' returns, while only taking debt level risk is a great value proposition for us. While the opportunities are vast, our focus will be on identifying those investments at the right 'basis' that will generate solid returns and preserve our clients' capital. With more than 50 years of combined experience in both debt and equity, Basis Investment Group is well positioned to succeed in today's changing market place." Heyman said, "the lack of liquidity in the current market coupled with the senior lenders reluctance to advance more than 60-65% of today's property values creates amazing opportunities for Basis Investment Group to provide the 'gap equity' or mezzanine debt to fill in the capital gap. We will also target investments in the senior debt and CMBS space in order to create a well balanced, diverse portfolio with attractive risk adjusted yields for our clients." Prior to forming Basis Investment Group, Heyman spent five years at CWCapital, where she created a national capital markets lending platform, developed and branded the business and managed 80 professionals across eight offices. Under her direction, the team originated more than 500 loans totaling in excess of $6 billion in fixed, floating and mezzanine lending collateralized by commercial real estate assets across the country. Prior to her work at CWCapital she was a senior vice president of CII, a GMACCM subsidiary now known as Capmark. Heyman holds a BA in Economics from Cornell University and an MBA with a concentration in Real Estate Finance from Georgia State University. JEMB Realty Corp. is an experienced real estate owner, developer and manager headquartered in Manhattan that acquires, upgrades and repositions commercial, retail and residential property in existing and emerging city business districts. With its subsidiary BUSAC Real Estate in Montreal, Quebec, JEMB owns and operates in excess of 7.2 million s/f of commercial space in North America including such prominent assets as Herald Center, Herald Towers, 150 Broadway and 75 Broad St. in Manhattan, Pocono Manor Inn & Golf Resort in Penn., The James Center office complex in Richmond, Va., 375 McCarter Highway in Newark, N.J., Place Dupuis in Canada, the Galleria Corporate Center in Scottsdale, Ariz. and other strategically located properties.