Now, GlobeSt.com has learned, the New Jersey office of MMCC, a Marcus & Millichap Real Estate Investment Services subsidiary, has hired two top professionals away from WaMu's real estate lending group. Michael Strauss comes to the firm as a senior director, and his partner, Joshua Lipsey, signs on as an analyst.
[IMGCAP(2)] "Michael has an impressive nine-year track record of arranging commercial real estate financing in the New York metro area, William Hughes, SVP and managing director of MMCC, tells GlobeSt.com. "He brings a wealth of knowledge in arranging structured finance transactions for mixed-use, multifamily, office, industrial and other properties."
Strauss had spent a half-dozen years as VP/senior loan consultant for WaMu in its Saddle Brook, NJ office. Over that period, he's credited with funding more than $1.7 billion of loans for the firm, and garnered honors as top producer nationwide in 2006 and top East Coast producer in 2003, 2004, 2006 and 2007. He had joined WaMu in 2002 after three years as VP of the commercial real estate department for Dime Savings Bank.
"MMCC's reputation in the real estate capital lending arena, combined with its national platform, attracted me to the firm," Strauss says. In his new position, he will be responsible for overseeing loan originations in the Garden State, specializing in structuring debt and equity transactions.
And Lipsey comes to MMCC after a stint as a sales associate at WaMu. There, he was credited with closing more than 550 loans with an aggregate in excess of $900 million, and in his new role will underwrite and analyze commercial real estate loans across all product types.
"With the current state of the capital markets in flux, it's more important than ever to provide this kind of professional expertise," Michael Fasano, New Jersey regional manager for MMREIS tells GlobeSt.com. "In combination with our brokers in the New Jersey office, we plan to further help clients in working with lenders to create customized financing packages that optimize the best rates and terms for their transactions."
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