LAGUNA NIGUEL, CA-Commercial real estate investment-banking firm Avistone Capital LLC has named Karine A. Clark as managing director. Based in the local office, Clark will be responsible for originating bridge, permanent and construction loans as well as equity placements involving multi-housing, commercialand hospitality projects throughout the western US.

Clark has more than 25 years of experience in the commercial capital markets, having held senior lending positions in the commercial divisions of Security Pacific Bank, Cal National Bank and US Bank in Newport Beach and Seattle. Throughout her career, she has originated more than $3 billion in loan transactions, in excess of 300 transactions, and has been involved with a number of large development projects that permanently transformed the Seattle metropolitan area. Projects included the conversion of the Sears catalog plant to the Starbucks headquarters, the construction of two new stadiums and the city's first twin office towers, as well as several large Boeing plants with more than 1 million square feet of leasable space in each building.

GlobeSt.com was unable to reach Clark prior to deadline to discuss what may transpire with multifamily lending now that Fannie Mae and Freddie Mac Multifamily have agreed to a planned 10% reduction in multifamily funding this year, as GlobeSt.com reported earlier today. The reduction could have serious implications for the sector in the fourth quarter and beyond if other sources don't step up and fill the gap, Gordon Gerson of San Diego-based Gerson Law Firm tells GlobeSt.com. The big question in the capital-markets arena is how fast other providers of multifamily financing come to the plate.