He is currently the only Situs employee working in that class A Midtown office space. Situs, however, has approximately 12 contract employees also serving the Northeast region and plans to increase its presence here, the spokesperson says.
"We see the opening of the New York office as an important step in our strategic growth as we expand our capital markets and real estate due diligence services across North America and Western Europe," says Steven Powel, managing director of Situs Realty Services.
Prisand's primary objective with the firm will be providing enhanced customer service to Northeast-based clients. He will be responsible for underwriting, structuring and closing loans for inclusion in securitized transactions. Prior to joining the company, he was a director in the real estate finance and securitization group of CIBC World Markets.
Situs provides due diligence and underwriting services to investment banks, services commercial loans, and restructures and disposes of defaulted commercial mortgages. Last year, the company advised on about $10 billion in assets, and currently services a portfolio of $2.5 billion.
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