Clarkston, Michigan, United States
Objective: To extend my career in the commercial real estate arena focusing on loan origination/restructuring, and applying my 35 years of experience on the lending and borrowing sides of transactions. Specialties: Commercail Real Estate Finance, Mortgage Banking, Loan Restructuring.
Providing commercial real estaet financing alternatives through Credit Union, Life Company, Bank and Equity sources.
Active in restructuring a variety of commercial real estate investments. Represented the property owner in seeking DPOs from current lending relationships, and negotiating new financing for bridge or longer replacement financing.
At Kirco, arranged acquisition, development and permanent financing for each project positioning Kirco with various lending sources for long term relationships. Successfully arranged in excess of $1.25 Billion in debt on a variety of land, industrial, office, retail and high tech projects in Michigan, Ohio, Indiana, North and South Carolina with bridge loans, construction and permanent loans, including restructuring existing debt, making lender/investor contacts, packaging of properties for consideration, negotiating applications, commitments and loan documents. Actively involved in monitoring the disposition of certain portfolio properties, and in the negotiation for the formation of new partnership entities. When focus of Kirco shifted to look more closely at acquisitions, became involved in evaluating acquisition opportunities for the company. Additional administrative duties have also included review of leasing parameters, assisting in lease negotiation, negotiating listing agreements, and review of construction draws as necessary.
Origination and placement of debt and equity financing on income properties, projects were accomplished in Michigan, Illinois, Indiana, Tennessee, Alabama and Texas.
Oversight of restructuring of the Foreclosure Department of the Servicing Division of Citizens Mortgage Corp. (MHMC). Existing staff of 15 employees administered 1100 active files in a portfolio of 56,000 loans. Controls were introduced to establish accurate property management and cost savings for account advances. Additional assignments included the supervision of government subsidy programs and all commercial loan servicing. While maintaining these duties, assumed responsibility for the cashiering, custodial accounting, and investor remitting departments. In 1978, assigned to the Commercial Loan Division as a commercial real estate loan originator. Activities included origination, underwriting and placement of mortgage financing. Very active nationally as direct lenders for acquisition and construction needs, and an aggressive placer of end loan financing with life companies, banks and pension funds. Direct experience was in office, retail, condominium, apartment and industrial properties.