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Joel Ross

Joel Ross

Joel 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.

  • Proposed Changes to Libor

    Commentary

    Proposed Changes to Libor

    Libor is going away and there is no final decision on what index will be used to replace it. Due to the manipulation of Libor by a few bankers in London,…

  • The Beat Goes On

    Commentary

    The Beat Goes On

    It has become clear that there is not much that can knock the current good economy and stock market off kilter. Not massive storms, not North Korea,…

  • Storm Impact

    Commentary

    Storm Impact

    The storms are going to have huge impacts on CRE in Florida and Houston, but the economy as a whole will get through this and then Q4 will actually…

  • Continued Low Inflation and Rates

    Commentary

    Continued Low Inflation and Rates

    Inflation seems to be mystifying the Fed and economists, but in my view it is because this is one of the rare times that the entire paradigm has changed.…

  • Prices May Have Peaked For Now

    Commentary

    Prices May Have Peaked For Now

    In Manhattan, transaction dollars have declined 39% on commercial, and top-end residential transactions and prices are declining.  The flood of new…

  • The New World Order

    Commentary

    The New World Order

    Over an eight year period, Obama managed to turn a messy world into one that is the most dangerous since WWII. His ridiculing Romney about Russia,…

  • Tech Comes To CRE

    Commentary

    Tech Comes To CRE

    As others have noted, CRE has been slower than some others to recognize the tremendous advances in technology to assist in due diligence, design and…

  • Stability For Now Is OK

    Commentary

    Stability For Now Is OK

      It seems likely that GDP for Q2 will be 2.5% -3.0% at best and maybe closer to 2.5%. Not what we hoped, but not bad. A lot will depend on what…

  • Steady For Now

    Steady For Now

    Lately there have been various pundits predicting the risk of recession or even saying we are already headed for one.  That makes no sense to me.…

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