Zielke Joins Situs Multifamily Group

HOUSTON-John Zielke has been appointed head of underwriting for Situs, a global commercial real estate advisory firm. In his new role, Zielke will be responsible for expanding the firm's advisory services as well as its client base of debt and equity participants.

Zielke has more than 20 years of multifamily-specific experience. Over the past six years he has served as chief underwriter for Column Financial, a Credit Suisse Co., and deputy chief underwriter at Walker & Dunlop. Prior to that, he held positions at Capmark Finance and Collateral Mortgage Capital LLC.

Situs's multifamily advisory group continues to expand its client base and transaction volumes and has deep experience with conventional, affordable, seniors, dedicated student housing and manufactured-housing products including development, management, leasing, accounting, valuation and principal ownership.

According to Zenobia Tambuvala, executive managing director at Situs, "Multifamily rental housing represents a signfiicant part of the US housing market, and we are seeing an increased demand for related services both on the debt and equity side. As the GSEs play a substantial role in bringing liquidity to the market, our multifamily group will continue to be integral in providing advisory services. We are thrilled to welcome John Zielke to help us meet the growing needs of this sector."

As GlobeSt.com reported in April, Situs, as a special servicer that manages problem loans,  filed to foreclose on Evergreen Plaza Mall in Chicago in 2011. At that time, DeBartolo Development LLC had been in negotiations to purchase the note so on the property so that it could move forward on its plans to demolish the retail complex and build a more contemporary lifestyle center at the site.