UNIONDALE, NY-Arbor Commercial Mortgage is stepping up its game in the CMBS sector, hiring Credit Suisse veteran Todd Hirsch as EVP, head of CMBS finance and distribution. Hirsch will oversee Arbor's growing national CMBS origination platform, and will also be responsible for overseeing Arbor's syndication platform and its various stages from sourcing to structuring to distribution, according to a release.
Commercial Mortgage Alert reported on Friday that Arbor would target fixed-rate CMBS mortgages of $5 million to $100 million in the major food groups, although its initial focus will be its traditional stomping grounds of the multifamily sector. Arbor might also securitize floating-rate bridge loans, CMA reported, and is targeting $200 million in loan production through the platform in 2013. An Arbor spokesman confirmed the CMA report late Monday afternoon.
In the release, Arbor chairman and CEO Ivan Kaufman, to whom Hirsch will report, cites Hirsch's “tenure and impressive track record of success in the commercial real estate finance industry across the world markets with expansive and deep expertise that spans from asset management to originations to the distribution of debt and equity products. His strong industry knowledge and notable skill will support our dynamic and growing company to help us serve the demands of the industry while providing our clients with the most comprehensive platform of products available in the market.”
During his years with Credit Suisse, Hirsch most recently served as managing director and head of the European Finance Group. There, he was responsible for managing the firm's European CMBS portfolio and for structuring and managing select joint venture companies. Before that, his titles at Credit Suisse included director and managing director, US CMBS; and VP and Director, Real Estate Group and Principal Transactions Group.
Hirsch will be based out of Arbor's New York City office. CMA reported that he plans to begin recruiting an originations team that will be based there.
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