NEWPORT BEACH, CA-Gregg Applefield, a director on Mission Capital Advisors' debt and equity team, has relocated from the firm's New York City office to its Newport Beach, CA, office. The move will expand the company's debt and equity services to the West Coast.

Mission had already established an operating office here for loan sales and valuation services, but moving Applefield out here will allow it to do much more in terms of capital-raising on the West Coast, the firm tells GlobeSt.com. “They've done a number of big projects on the East Coast in Florida and New York.”

Applefield tells GlobeSt.com that, from the firm's perspective, his relocation is an opportunity to provide better coverage of its newly expanded services to the West Coast clients with whom Mission has been doing business for the past decade. “And as our deal pipelines and closed transactions on the East Coast continue to grow, it's garnering attention from the players on the West Coast looking to capitalize on our ability to bring capital to all parts of the country.”

The firm's debt and equity finance team has only been online for the past three years, but in that short amount of time has grown rapidly due to Mission's commitment to grow this side of the business. “I think by bringing on myself and other professionals, they continue to show their focus and dedication to really building out this part of the platform,” says Applefield.

For Applefield's part, he says he is a West Coast native who is happy to be returning to his home coast. He adds that his team is fully assembled and able to deliver results to clients across the country. He is joined here by one other professional, Chad Coluccio, who serves as the firm's managing director on loan sales and has been actively representing the firm for the past five years in the commercial loan-origination space. Currently, all other team members are based in New York.

“Here in Southern California, we'll be growing our team by adding originators and support for execution purposes,” says Applefield. “We're starting out in the L.A., Orange County, San Diego and San Francisco areas, and we have done a lot of business on the loan-sale front and will look to a lot of owners, investors and developers with whom we've done business [for capital raising].”

Prior to joining Mission in July, Applefield spent the past eight-and-a-half years in Eastdil Secured's New York office as the firm expanded its New York practices. Afterward, he became assimilated with Mission's team there and learned how to run their transactions. “I hope to combine what I learned at Eastdil with what I've learned here and bring it to my new colleagues to take the best approach from both firms in order to build something better,” he says.

As GlobeSt.com reported last month, Mission has hired finance broker Jonathan More to further grow the firm's expanding debt and equity finance platform in the New York office. More joins the firm as a director and is responsible for originating, underwriting and structuring commercial real estate transactions nationwide on behalf of owner-operators, private equity firms, developers and family offices.