ATLANTA-Gary Saykaly is the latest talent to jump on board the Cushman & Wakefield train. Saykaly has joined the firm’s Southeast Capital Markets Group in Atlanta as a senior director. Saykaly comes to CushWake from BridgePointe Advisors, where he was a managing director. BridgePointe could not immediately be reached for comment.
In his new role, Saykaly will serve as the leader of the Southeast retail investment sales platform outside of Florida and as a member of the firm’s National Retail Investment Group. He will work closely with CushWake’s Sonnenblick Goldman’s debt and equity specialists in Atlanta to offer Southeast clients customized investment and capital solutions including investment sales, joint ventures, debt and equity financing throughout the capital stack, note sales and customized monetization strategies.
“There is so much capital on the core side,” Saykaly tells GlobeSt.com. “That the capital is now focusing beyond gateway markets to include secondary markets. You are going to see more money getting placed. Owners who were not selling are taking advantage of this market and selling into this market. You are going to see more portfolio situations because this is a great time to jump back in the market.”
Saykaly brings 22 years of experience in the commercial real estate industry, specifically in the areas of dispositions and acquisitions, joint ventures, financial structuring, strategic consulting and asset management. During his career, he has been involved with major retail asset and portfolio dispositions throughout the country—spanning open-air centers and enclosed malls—and has represented prominent sellers, including pension fund advisors, financial institutions, REITs, opportunity funds, offshore entities and developers.
“You are going to see more activity as the market and fundamentals improve,” Saykaly says. “Once capital starts relaxing its risk-return requirements there will be more money flowing into the value-add side as well. There are going to be more volume in the distressed space, or at least bank-owned properties. While the banks have done a good job modifying and extending loans with the pick up in the retail market, they are going to focus more on selling than the extend and pretend.”
Prior to joining Cushman & Wakefield, Saykaly held positions at commercial real estate investment banking and advisory firms including CEO at NewBridge Retail Advisors, director of CB Richard Ellis’s Southeast Retail Investment Group, and a member of CBRE’s Institutional Group and National Retail Investment Team, and Asset Manager for a major offshore institutional owner.
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