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Posted: December 22, 2020
Max Ralby, HKS Real Estate Advisors LLC
Name: Max Ralby
Title: Capital Markets Associate
Company Name: HKS Real Estate Advisors LLC
What was your most notable project, deal, or transaction in 2020?
Two notable deals come to mind during the pandemic. The first is an $11.5 million acquisition renovation loan of nine multifamily and mixed-use properties throughout N.J. The challenge was this originated early on in the pandemic after the sponsor had a lender fall out in March. This was a time of essence closing with seven different sellers and a huge team effort coordinating a remote closing with several different parties.
The second transaction was also a deal that came to us after the sponsor had a lender back out. It was a stalled 85 micro-unit development in Seattle where the existing lender stopped funding. The project was 70% complete and secured a $14.65 million construction completion loan to allow the developer to refinance the existing debt and upsize their construction loan, which will allow them to complete and stabilize the asset. This was also a deal that was originated and closed during the pandemic.
What was your greatest professional accomplishment in 2020?
The accomplishment that I am most proud of is this entire year overall. My team and I have managed to continue to be active and transact and more importantly execute for our clients even in the midst of being displaced and the craziness in the world. We certainly pride ourselves on being there for our clients, and I think we’ve done a really good job on following through on that and finding solutions.
What are your predictions for commercial real estate in 2021?
I think all signs point to 2021 being a year of recovery. I am sure we will continue to see impacts and trends from the pandemic. However, I do believe with the recent vaccine news and everyone starting to have a little bit more clarity on the future, we will see some more optimism from the equity markets and transaction volume should pick up.
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