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Posted: July 8, 2011
Parrinello appointed VP, originations at Hudson Realty Capital
Steven Parrinello has joined Hudson Realty Capital LLC as vice president, originations. Based in the firm's local office, Parrinello will be responsible for originating debt and equity real estate transactions nationally.
Established in 2003, Hudson has closed more than $3.5 billion in transactions. The firm's activities include originating, purchasing, participating in, servicing and restructuring high-yield, special-situation debt and acquiring under-performing assets and other real estate-related instruments. Currently, Hudson has approximately $2.5 billion of assets under management.
"We are pleased to have Steven on board at Hudson. His origination and deal structuring experience will help assure that Hudson remains the premier middle-market high-yield real estate capital provider," said Spencer Garfield, managing director, who spearheads the firm's origination team.
Prior to joining Hudson, Parrinello served as an investment officer for real estate at CapitalSource Finance.
During 2010, he originated and closed $150 million of first mortgage, bridge and permanent real estate loans. He also underwrote and closed more than $1 billion of balance sheet fixed- and floating-rate real estate loans during his tenure. Previously, Parrinello served as a financial analyst of the global commercial real estate group for UBS Investment Bank and was a senior associate of the Real Estate and Banking Practices for KPMG, LLP.
A graduate of New York University with a Master of Science in real estate and a concentration in real estate development, Parrinello earned his undergraduate degree in business administration from Pace University.
"Hudson has rapidly established itself as one of the top institutional real estate fund managers with a sound, calibrated execution and management strategy for complex real estate transactions," said Parrinello. "I am excited to be working with the team at Hudson."
Hudson is a Minority-Owned Business Enterprise (MBE) certified by the Empire State Development Agency (ESDA), reflecting its ethnic and gender diversity. Based in New York City, the company also maintains a Northeast regional office in Portland, Maine, and recently expanded its Southeast presence with a new office in Fort Myers, Fla.
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