News: Brokerage

Kenny named east region executive of CREB for Bank of America Merrill Lynch

Bank of America Merrill Lynch has named Steve Kenny as the east region executive for commercial real estate banking (CREB). Kenny succeeds Chris Thomas, who is retiring. Kenny manages teams that serve CREB clients in the eastern half of the U.S. He previously was the CREB executive for the New York and New Jersey markets. Kenny reports to Ron Curtis, head of CREB. "Steve's experience in the industry, his understanding of our strategy and his creativity in providing the right solutions have been instrumental in serving Bank of America Merrill Lynch's commercial real estate clients," Curtis said. "Steve is a proven leader with the expertise and innovation to help our company continue delivering for clients." CREB is part of global commercial banking and works closely with other businesses within Bank of America Merrill Lynch to provide a broad set of financial solutions to professional real estate developers, REITs and Opportunity Funds nationwide. Bank of America Merrill Lynch extended $41.3 billion in commercial real estate loans in 2013.
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Columns and Thought Leadership
The death of the generic offering memorandum: What buyers expect in 2025 - by Kimberly Zar Bloorian

The death of the generic offering memorandum: What buyers expect in 2025 - by Kimberly Zar Bloorian

There was a time when an offering memorandum (OM) was pretty bare bones, some photos, a few bullet points on income, and a rent roll thrown in at the back. That used to get the job done. Not anymore. In 2025, buyers are sharper, faster, and more selective. They’re looking
Tri-state capital  migrates nationally amid  regulation pressure - by Reese Weaver

Tri-state capital migrates nationally amid regulation pressure - by Reese Weaver

New York tri-state multifamily investors are increasingly reallocating capital to less-regulated markets across the U.S. as rent control and legislative risk erode returns at home. With over 60% of New York City’s rental housing stock classified as rent-stabilized, the traditional value-add model — buying under-performing buildings,

The anticipated effect of Basel III and ISO 20022 implementation on commercial real estate - by Michael Zysman

The anticipated effect of Basel III and ISO 20022 implementation on commercial real estate - by Michael Zysman

July 1, 2025 is the deadline for US banks to begin to adopt Basel III banking standards and July 14, 2025 is the deadline for U.S. banks to adopt ISO 20022 messaging standards. Both will have a significant effect on the banking and commercial real estate (CRE) finance sectors.
A fresh start - by Shallini Mehra and Amit Doshi

A fresh start - by Shallini Mehra and Amit Doshi

For the past several years, the New York City multifamily housing market has been defined by disruption. The combined impact of the HSTPA rent laws and a sharply higher interest rate environment has fundamentally reduced