The Ross Rant

About the Author

Joel Ross

Ross began his career in Wall St as an investment banker in 1965, handling corporate advisory matters for a variety of clients. During the seventies he was CEO of North American operations for a UK based conglomerate, and sat on the parent company board. In 1981, he began his own firm handling leveraged buyouts, investment banking and real estate financing. In 1984 Ross began providing investment banking services and arranging financing for real estate transactions with his own firm, Ross Properties, Inc. In 1993 Ross and a partner, Lexington Mortgage, created the first Wall St hotel CMBS program in conjunction with Nomura. They went on to develop a similar CMBS program for another major Wall St investment bank and for five leading hotel companies. Lexington, in partnership with Mr. Ross established a hotel mortgage bank table funded by an investment bank, and making all CMBS hotel loans on their behalf.  

In 1999 he formed Citadel Realty Advisors as a successor to Ross Properties Corp., focusing on real estate investment banking in the US, UK and Paris. He has closed over $3.0 billion of financings for office, hotel, retail, land and multifamily projects. Ross is also a founder of Market Street Investors, a brownfield land development company, and has been involved in the acquisition of notes on defaulted loans and various REO assets in conjunction with several major investors. 

Ross was an adjunct professor in the graduate program at the NYU Hotel School. He is a member of Urban Land Institute and was a member of the leadership of his ULI council. In 1999, he conceived and co-authored with PricewaterhouseCoopers, the Hotel Mortgage Performance Report, a major study of hotel mortgage default rates.

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Comments
Absolutely spot on! The mainstream media simply refuses to acknowledge this simple, honest truth. We are BROKE and will only be more so once President Osama (no that was NOT a typo) and his minions get done with us. He'll leave office just in time for the next guy to inherit the problem, and then it will be all the new guy's fault.

Meanwhile, those of us who do work and are productive citizens will continue to get pounded until we are just another socialist has-been country. Bring on the farm collectives and 5 year plans, Comrade Pelosi and her ilk will welcome them..
Posted by comment_user_451382 | Monday, April 19 2010 at 1:39PM ET