Those transactions included the closing of $145 million in financing for the acquisition and conversion to condominiums of two apartment properties in Arlington, VA. "This market, compared to most others is probably the strongest and most resilient in the country," says founder Kevin H. Smith.
Smith opened the firm after having served as director of finance and sales for Opus East, the Mid-Atlantic division of Minnetonka, MD-based developer Opus Corp. "We want to design ourselves as an outsource intermediary/mortgage brokering firm," Smith tells GlobeSt.com. "We focus on highly structured financing."
The company will not limit its activity to the Washington, DC area. Currently, a deal is in the works for a property in San Francisco. Melanie Domres, formerly of KSI Services Inc. has joined ARK as vice president; and Kevin M. Hill, an eight-year veteran of real estate finance, investment, and capital markets, is on board as director of financial analysis.
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