Manhattan, NY George Smith Partners has established a bicoastal presence with the opening of an office in Midtown.
Industry veteran Ed Steffelin has joined the firm as senior vice president on the Malcolm Davies team, and will oversee the new office, which is located at 750 Lexington Ave.
Prior to joining the firm, Steffelin was a client of George Smith Partners while serving as executive vice president of capital markets for Walton International Group.
“While we are already recognized nationally, establishing George Smith Partners as a true bicoastal entity will deliver increased access to capital and a greater capacity to serve clients throughout the nation,” says Malcolm Davies, Partner and Managing Director at George Smith Partners. “This move is the natural next step in our continued growth, through which we continue to add industry-leading, well-respected professionals like Ed to our team.”
“Before working with George Smith Partners, I wasn’t aware that this level of service was available in this industry,” says Steffelin. “While other capital market advisors merely connect borrowers to lenders, the GSP team offers true transparency and partnership by staying with each project and crafting creative solutions as needed to ensure each transaction reaches the finish line.”
Steffelin brings more than 25 years of investment experience in structured products, alternative assets and real estate to George Smith Partners, including a specialty in housing and land development.
“As the nation’s propensity and need for mixed-use and master-planned residential product grows, there is an opportunity to capitalize on this market, which has been traditionally underserved by capital,” says Steffelin. “Further, our new New York presence offers the ability to expand our East coast network and offerings to meet the needs of more Clients throughout the U.S.”
In addition to his role with George Smith Partners, Steffelin is the co-founder of two start-up real estate companies: STAC Capital, which finances model homes, and Balcara Group, which creates single-family rental communities.
During his career, he has served as managing director at ICP Capital, senior managing director of GSC Group, portfolio manager for TCW Group, Inc., a principal at Allianz Risk Transfer AG, and has held positions at CapMAC and the New York Stock Exchange, among others. Early in his career, he helped structure and execute the first two CMBS transactions created in Canada.
Steffelin holds an M.B.A. from Dartmouth College and a B.A. in Economics from Occidental College.
He joins as a key member of the Davies team at George Smith Partners, which arranged and closed more than $750 million of real estate debt and equity in 2018 and has over $1 billion in the pipeline for 2019.