WASHINGTON, DC-David Webb and Jamie Butler, two capital markets executives from Cassidy Turley, joined CBRE's Capital Markets Group as vice chairman and vice president, respectively.
They will focus on structured finance and development transactions at CBRE. "We have a very robust capital markets group, but that space is big and there are clearly specialties within it," John Germano, executive managing director for CBRE in the Washington-Baltimore region tells GlobeSt.com.
Germano says the hires are "accretive", meaning there is no overlap with CBRE's current capital market operations. "What we really needed was support in development finance, which is one of David and Jamie's specialties."
During their tenure at Cassidy Turley, Webb and Butler closed transactions for new apartment and condominium developments comprising over 10,000 units, and commercial development projects for over four million square feet. These deals included the Portals III, Republic Square, and Highland Park Apartments recapitalizations; Fort Totten Square; and 4500 East West Highway.
Transactions that Webb and Butler are currently working will be closed under Cassidy Turley, Germano said.
"Anything new starts up with CB," he says.
The company is now set for its debt and equity group hires, he says. "Across the board we are always looking at infill roles –hires in an area where we might be weak. I would say we will need to add some analyst positions to support our growth in the capital markets group."
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
