Macquarie, one of Asia-Pacific's investment banks, boasts about 4,500 staffers worldwide and a market capitalization of $3.6 billion.
"There is a lot to like about Seattle and the opportunities it offers a company such as ours, even in the current economic climate," says Arthur Porter, executive vice president and head of Macquarie Real Estate Finance (MREF). "In fact, entering the market at this stage of the cycle has worked to our advantage, allowing MREF to secure quality staff and clients who have found local financing to be tight since recent events including the tech-wreck, 9-11 and the Boeing lay-offs."
MREF has already experienced success in the local market with closed loans and commitments to fund to date in excess of $110 million through its portfolio of innovative real estate financing products. And looking forward, Porter says he anticipates the Seattle economy to continue to strengthen over the next 18 months.
"The outlook remains positive with continued net migration to the region and improved business conditions fueling the need for ongoing real estate industry investment," he says. "The demographics within the region are strong with a highly educated and professional work force generating above average incomes per capita. This is all positive for real estate development, investment and, in turn, real estate financing."
MREF also has lured a local real estate financiers to join their business. Kathleen Sanders, a Seattle native, has joined MREF as vice president of marketing. Sanders has more than 20 years experience in local real estate development financing, most recently with US Bank.
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