PHOENIX—Signaling a move to expand its Capital Markets platform, Cushman & Wakefield has added a capital markets and commercial real estate veteran to its leadership roster. Bob Kline of RW Kline Companies has joined the firm as senior managing director of the Equity, Debt and Structured Finance Group.
Kline was previously CEO of the number one CMBS debt restructuring firm in the world and the leader of the equity/debt advisory team at RW Kline Capital, LLC.
With Cushman & Wakefield, Kline will spearhead a specialized national CMBS advisory practice focused on CMBS debt maturities, assumptions, restructurings and rescue capital. Blending his existing advisory team with C&W's Capital Markets team, Kline will create the largest CMBS debt restructuring practice in North America. Additionally he will represent equity, debt, and structured finance clients with a primary focus on the West. He will work closely with the Phoenix, Los Angeles and Dallas offices, and will also assist in other regions where he has been active. Kline will be based in Cushman & Wakefield's Phoenix office.
As CEO of RW Kline Companies, Kline operated five vertical operations with 60 associates and 11 offices. He has facilitated more than 600 note sales, acquisitions and more than $8.7 billion in restructurings. He and his capital markets team at RW Kline Capital placed more than $3.1 billion in capital in the commercial real estate markets in the past 18 months.
Kline tells GlobeSt.com, “This is a great move for our team and for our operations. There has been a paradigm change and the big shops are going to dominate the market. As a boutique firm, we needed a great company to plant our domestic and international flag with."
Kline says the deal took some time to put together. “There were two competing contracts, but in the end, I knew Cushman and Wakefield could grow our business how we want to do it—with a personal touch. I did this more for my team than for myself,” Kline says.
Members of the existing Kline Capital Market teams will be blended into Cushman Wakefield offices.
Kline adds that his company was maxed out with growth and infrastructure and needed a larger vehicle and platform with which to dominate the market. "We needed a big partner to go to bat with, and Cushman & Wakefield has the passion and the professional presence. We will be assisting in the overseas markets and growing the team substantially. It's dividing and conquering, while bringing it all together. It really is the proverbial win-win. My daily activities will be 100% Cushman & Wakefield.”
Kline says the company has the strength and market penetration to make this a reality.
“Cushman & Wakefield has an excellent culture of collaboration and is recognized for both its strong brand and the talent of its capital markets professionals,” Kline adds. “I'm very pleased to join Cushman & Wakefield and I look forward to expanding our practices. I see great opportunity in leading the firm's specialized CMBS restructuring/turnaround practice while contributing to the growth of the overall capital markets business.”
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