Merrie Frankel, Moody's Investors Service

NAME: Merrie Frankel TITLE: Vice President- Senior Credit Officer COMPANY: Moody's Investors Service YEARS WITH COMPANY: 12 years YEARS IN FIELD: 12 years at rating agency YEARS IN REAL ESTATE INDUSTRY: 26 years; tax attorney previously. ADDRESS: 7 World Trade Center at 250 Greenwich Street, New York, NY 10007 TELEPHONE: 212-553-3652 EMAIL: [email protected] URL: www.moodys.com REAL ESTATE ORGANIZATIONS: YMWREA (past Treasurer), WX (past Secretary), ULI (past Chair of ULI-New York and trustee), ICSC What was your most notable project, deal or transaction in 2010? As a rating analyst, I do not have deals per se. The significant projects entail large mergers/acquisitions and new ratings, in addition to monitoring a portfolio of companies in the US and Canada with retail being my specialty. We have completed a number of new ratings this year for companies that have been public for a while, but, due to the recession, recognized the importance of the four quadrants (debt, equity, public, private) and access to the public markets to issue unsecured debt and preferred stock. Evaluating the effect of the Brookfield Asset Management/GGP and HCP/HCR ManorCare transactions on their ratings was particularly interesting. How do you contribute to your company and/or industry? I contribute in many ways such as teaching graduate capital markets courses at NYU and Columbia; mentoring young professionals through organized programs and informally; working on the scholarship committee for WX; publications in various magazines and websites; and ULI-New York, through which I started UrbanPlan, a real estate course running in New York City high schools that has been very gratifying. What advice would you give to women just starting in commercial real estate? Education is truly important, careers are evolutionary (not necessarily a 45 degree projectory), and they will learn and make contacts wherever they are that will add value to their life and careers. The multifaceted nature of real estate keeps it interesting and one needs to be resilient. How do you manage the work/life balance? It's a balancing act and there are times that one takes priority over the other. Who or what has been the strongest influence on your career? No one person, but a group of people from various firms at which I've worked (Salomon, JP Morgan, Cushman & Wakefield, Ernst & Young, O'Connor Group, and Moody's) and organizations constitute my kitchen cabinet of resources. What impact has social networking had on your business? Social networking is important as a means to further knowledge in the business and referrals.