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
Multi-generational multifamily owners - who’s in and who’s out - by Shallini Mehra and Amit Doshi

Multi-generational multifamily owners - who’s in and who’s out - by Shallini Mehra and Amit Doshi

Many long-time property owners are divesting from their rent stabilized properties at an increasingly rapid pace. This trend has gained momentum primarily due to the unyielding permanence of rent laws over the past six years and the increasing operating costs that continue to outstrip rent growth. In addition, the judiciary’s elongated timeline in processing evictions and tenant rent challenges,
Artificial intelligence in lending - by Lindsay Mesh Lotito

Artificial intelligence in lending - by Lindsay Mesh Lotito

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Navigating the changing landscape of hotel Property Improvement Plans and conversion brands - by Andrew Cameron

Navigating the changing landscape of hotel Property Improvement Plans and conversion brands - by Andrew Cameron

When owners are due for a significant Property Improvement Plan (PIP), they must carefully evaluate what the best course of action is. Over the past five years, major hotel brands have become significantly more flexible with their PIP schedules.
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