MIAMI BEACH, Fla.--(BUSINESS WIRE)--LNR Property LLC, a diversified real estate services and investment company and the world’s leader in special servicing of commercial mortgages, today announced a new operating structure for the company and an ongoing realignment of global resources to meet the evolving demands of current businesses, opportunities unfolding in the current market environment and requirements arising from the Dodd-Frank regulatory environment.
The new operating structure comprises three business units that span across the global marketplace: LNR Asset Services, Archetype Investment Management, and Archetype Capital Markets. Across its servicing and operating entities, LNR Asset Services is the world's largest commercial mortgage special servicer and the industry leader in commercial loan workouts. Archetype Investment Management is a market leader in CMBS and commercial real estate debt investing. LNR's Archetype Capital Markets division provides financing to borrowers who own or are acquiring commercial real estate assets across all property types within the US and Europe and also works closely with financial institutions to provide unique solutions for small balance loan dispositions.
“We continue to build on the long standing strengths of LNR's 600 dedicated employees including a senior management team that consists of tenured associates with average industry experience of over 25 years and over 15 years with LNR. In addition to the strength of our existing team, LNR has hired more than 70 employees in the Asset Services Division and over 100 companywide in the last 12 months,” said Toby Cobb Co-CEO.
“The experience and expertise of LNR’s human capital is unsurpassed in the CRE market. With these new hires, as well as the promotion of key, long-term LNR associates, we will continue to navigate the current economic cycle and take advantage of the significant opportunities it presents,” said Mr. Kennedy.
Added Mr. Cobb, “LNR’s broad capacity and the breadth of our CRE activities are unparalleled in the marketplace. These core strengths allow us to attract and retain the best minds in the industry, deliver first-class services to all our clients and achieve above-market returns to our investors and sponsors.”
LNR has made the following key leadership appointments and promotions that will strengthen its platform and further buttress LNR’s position as the industry-leading commercial real estate investment manager and services provider;
LNR Asset Services
LNR Asset Services has created a new Office of the Chairman, which will be led by Vice Chairmen David Levin and Thomas Nealon. The Office is charged with oversight of all special servicing activities. Levin is a founding executive of LNR and currently heads all aspects of Investor Relations. He brings 20 years of experience with the firm to his new position. Nealon, who has been with the firm since 1992, serves as LNR’s Asset Services General Counsel and Director of Training and is involved in the day-to-day management of all legal issues related to LNR’s special servicing activities.
The following hires and promotions have been made within the LNR Asset Services division:
LNR Partners
- Isaac Pesin and Job Warshaw, who previously served as the United States Division’s COO and Head of Loan Work Out, respectively, have been promoted to Co-Presidents of LNR’s U.S. Servicing division. Pesin has 14 years of experience in the industry including 8 years at LNR. In his most recent role, Pesin spearheaded LNR’s revenue-building initiatives, including loan sales, third-party servicing and other investment opportunities. Warshaw is a 25-year banking and real estate finance veteran, including 19 years at LNR. An original member of LNR’s loan workout and special servicing group, he has been responsible for LNR’s 75-member Loan Asset Management team, which presently manages in excess of 1,000 specially serviced CMBS loans.
Hatfield Philips
- Matthias Schlueter has been promoted to European Chief Operating Officer and Managing Director of LNR Partners Europe. He is responsible for the management of all current European business activities, including oversight of both the London and Frankfurt offices, as well as the strategic development of LNR’s European platform. Matthias, a German native who joined LNR in 2005, has headed all of LNR’s US CMBS surveillance activities and serves on LNR’s European LEI Fund Executive Committee, where he is responsible for developing the Fund’s asset management and disposition strategies and directing the Fund’s management team.
- Derek Rich has joined as Director of Investment Management for LNR’s European division, where he will oversee all investment due diligence and business development activities. Rich has over 13 years of experience in the commercial real estate and CMBS industry, including 8 years in the European Commercial Real Estate debt capital market as a founding member of Deutsche Bank’s commercial real estate and DECO CMBS platform in Europe and, subsequently, as head of distribution for commercial real estate products for UBS.
Archetype Investment Management
The following hires and promotions have been made within LNR's Archetype Investment Management division:
- Adam Behlman joins LNR as Managing Director of Capital Markets and Investment Strategies for Archetype Investment Management. Adam most recently served as head of the Real Estate Finance and CMBS division of UBS, where he was in charge of disposing of the firm’s entire CMBS and Commercial Real Estate Loan book while also returning UBS to the origination, trading and underwriting business.
- Natan Bresler has been promoted to Director of Capital Markets of Archetype Investment Management. In this role, he will assist LNR Property Co-CEOs Justin Kennedy and Toby Cobb to analyze all major business opportunities, examine existing relationships for new trade prospects, and oversee such activities as hedging, trading and new structured product development. Bresler joined LNR in October 2002 and brings more than 14 years of real estate and finance experience to his new position.
- Luke Dann has been promoted to Director and Chief Credit Officer of Archetype Investment Management, where he will oversee all of LNR’s credit and investing activities. Dann, who has been at LNR since November 1997, is involved in all facets of acquisitions for LNR – CMBS, structured loans and corporate acquisitions. Since April 2011, he has served as the Chief Credit Officer of LNR's conduit origination division.
Archetype Capital Markets
Two new entities, Archetype Financial Institutions Services and Archetype Mortgage Capital, comprise Archetype Capital Markets. Archetype Financial Institutions Services was created to acquire and manage portfolios of smaller balance commercial loans and real estate assets offered by small to medium-sized regional banks and financial institutions focused on reducing real estate exposure. Archetype Mortgage Capital is a best-in-class conduit loan originator offering fixed rate loans secured by retail shopping centers, office buildings, multifamily apartment complexes, hotels, mixed-use and industrial properties located in North America.
- Larry Brown joins as President of Archetype Mortgage Capital. Larry comes to LNR with 23 years of experience in building loan origination platforms at Deutsche Bank, First Union and DLJ.
- Peter LaPointe joins as President and George Spillis joins as Chief Operating Officer of the newly created LNR Archetype Financial Institutions Services Group, which will take advantage of the significant opportunities that exist in purchasing, managing and creating value from portfolios of mostly smaller balance commercial real estate loans. LaPointe and Spillis, both of whom most recently served as senior executives at Bayview Financial, bring a wealth of CRE portfolio acquisition, development, dispositions and small balance commercial real estate workout experience to LNR.
LNR is headquartered in Miami Beach, Fla., with locations in 10 U.S. cities, as well as in London and Frankfurt. Originally part of Lennar Corporation, a national homebuilder, LNR was created in 1969 for the purpose of managing Lennar’s commercial property activities. It was spun off as a separately traded public company in 1997, was taken private in 2005, and then was recapitalized in 2010 by a consortium of investors including Cerberus, Vornado, Oaktree and iStar.