Together, the foursome has more than a century of combined experience in the capital markets arena and has sold more than $20 billion of commercial real estate over the past decade at C&W. Highlights of that tenure include 666 Fifth Ave., 388-390 Greenwich St., 200 Park Ave., the Seagram Building at 375 Park Ave. and the Plaza Hotel. At JLL, they'll be expanding their new employer's overall New York City capital markets effort, which includes investment sales, debt placement, recapitalization, note sales, and placement of rescue capital and joint venture equity capital.
In a release, Peter Riguardi, president of the New York Region at JLL, calls Baxter, Caplan, Cohen and Latham "accomplished professionals who have been the drivers behind many of the city's largest and most important real estate deals. Integrating their capital markets expertise will provide a major boost to our client service offerings in New York as well as our overall Americas and global capital markets platforms."
Adds Jay Koster, president of JLL's Americas capital markets business, "Attracting these key leaders to our firm will enable the aggressive growth of our New York City capital markets business." He adds that the hire "sends another significant message to the market" that JLL is "committed to building a pre-eminent Americas capital markets business."
Koster says in a release that the global reach and track record of Baxter, Caplan, Cohen and Latham also provide "an ideal connection point to our well-established capital markets businesses in EMEA and Asia Pacific. This move will further enhance Jones Lang LaSalle's role in the flow of global real estate capital."
The C&W team reportedly had been courted by a number of firms over the past several months, Indeed, as Liantonio points out, Real Estate Alert reported in January that the foursome was being sounded out by Cassidy Turley and Holliday Fenoglio Fowler as well as JLL. Their most recent five-year contract with C&W expired in 2008, according to Real Estate Alert.
"From our perspective, New York City is the global headquarters not only of our firm but also our capital markets business," says Liantonio, EVP for C&W's capital markets group. "We have a deep bench here," including the Cushman & Wakefield Sonnenblick Goldman finance division, which earlier this week arranged a $212-million refinancing for a nine-hotel portfolio on behalf of FelCor Lodging Trust Inc., and C&W's investment banking team, which arranged the $225-million sale-leaseback of the New York Times Co. headquarters space at 620 Eighth Ave.
"We remain committed to the New York City market, and we have a plan that we'll be sharing," Liantonio says.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Paul Bubny
Paul Bubny is managing editor of Real Estate Forum and GlobeSt.com. He has been reporting on business since 1988 and on commercial real estate since 2007. He is based at ALM Real Estate Media Group's offices in New York City.
