The Top Five American Real Estate Market Players
The real estate sector in the U.S. is arguably the most vibrant industry across the world. The industry is flocked with financial bigwigs, each doing tremendously well. The Observer ranked the top 50 key real estate market players based on their performance in 2016. From the 50, which includes Andrew Farkas, Chard Tredway and Greg Reimers, this article samples five.
With the Bank of China’s big involvement in the American real estate industry, its chief lending officer had to make the cut. Raymond Qiao led the Chinese lending firm to issue loans in excess of $4.5 billion to commercial real estate developers in major U.S. cities, such as Los Angeles, New York, and San Fransisco. On the other hand, the bank launched its New York office building last year, which accommodated all its offices and left ample rental space. This space was opened for tenants, making Bank of China a landlord.
As the group head of Wells Fargo Multifamily Capital, Alan Wiener ranks second for the important role he plays at the company. In 2016, he led the San Francisco-based firm to lend more than $15 billion to commercial real estate investors across the United States. Some of the notable beneficiaries include Starwood Capital Group and YES! Communities.
Ed Adler and Matt Borstein jointly took the third position in 2016, up from the 9th in 2015. The former is the head of U.S. Origination at Deutsche Bank while the latter is the head of Deutsche Bank’s Global Commercial Real Estate. Under the leadership of the two gentlemen, Deutsche Bank financed and refinanced companies in the mortgage market for up to $9.7 billion.
The fourth position went to the Blackstone Group’s quartet; Michael Nash, Tim Johnson, Jonathan Pollack, and Stephen Pollack, dropping by two positions from 2015. The New York-based private equity and financial firm gave mortgage loans to the tune of $6.7 billion in 2016. Some of the notable beneficiaries of these loans include Patriarch Equities, Sionio Group, and the Georgetown Company and Pershing Square Capital Management.
Steven Mnuchin, the secretary in charge of the U.S. Treasury, completes the top five list by virtue of his new position. Being the lead policy maker in the highest financial office in the United States, Mnuchin will be a key figure in the American mortgage market for the next four years. He has a bit of history in the industry, having owned OneWest Bank, a residential mortgage financing firm, from 2009 to 2015. From the early 90s to 2002, Mnuchin headed the mortgage securities division at Goldman, an investment banking firm.