The alliance sprang from the strong relationship between the two companies over many years. John Gallo Sr., president and CFO of WB&B, tells GlobeSt.com that Nissho Iwai was originally one of their mezzanine lenders, "but the relationship worked out so well that soon we were looking for co-investment opportunities," he says. "Nissho Iwai looked to us for an alliance not only because of our financial capacity to co-invest, but because of our related affiliates in the development business."
Fumitoshi Onoma, general manager for NIAC, notes that, "Few investment banks have people with such extensive hands-on real estate development experience to go along with financial expertise. We look forward to taking our already successful relationship to a new level."
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