NEW YORK – Cassidy Turley, a leading commercial real estate services provider in the U.S., announced today that Stephen J. Pearlman has joined the firm’s New York Office as Senior Managing Director in the capital markets group, effective immediately. Prior to joining Cassidy Turley, Mr. Pearlman was a Director of Houlihan Lokey’s corporate finance department and was a member of its real estate, lodging and leisure group, where he was involved in restructuring activity for that firm on a global basis.
Mr. Pearlman’s addition continues the expansion of Cassidy Turley’s New York Office capital markets expertise. In his new role at Cassidy Turley, Mr. Pearlman will be responsible for investment sales, debt placements, structured equity placements, loan restructurings and property sales. He will work closely with Noble Carpenter, Executive Managing Director, and Bart Steinfeld, Executive Managing Director, who work in Cassidy Turley’s capital markets group in New York and joined the firm earlier this year.
“Cassidy Turley is continuing to expand its capital markets group in New York and across the nation by attracting some of the best talent in the industry – talented people like Stephen Pearlman,” said Peter Hennessy, President, New York Tri-State region, Cassidy Turley. “Steve’s deep industry expertise in commercial real estate finance, professional relationships and career experiences will support Cassidy Turley’s goal of providing our capital markets’ clients with the best possible services to meet their needs.”
A former banker, Mr. Pearlman has more than 28 years of experience in advising institutions, corporations and real estate owners and investors in the structuring and execution of asset sales, note sales, sale leasebacks, financing and other capital markets transactions.
During his career, Mr. Pearlman has been involved in transactions valued at more than $8 billion, including:
- Lehman Brothers - Responsible in advising the Unsecured Creditor Committee in the Lehman Brothers bankruptcy in regards to $20 billion of real estate assets, both debt and equity.
- Prudential RE Investors - Arranged a $48 million first mortgage financing secured by the Don CeSar Resort in St. Pete’s Beach, Florida.
- La Torretta del Lago - Raised a $114 million capitalization for this resort/hotel development in Lake Conroe, Texas. Raised $84 million acquisition and renovation loan and $30 million of joint venture equity.
- TIAA-CREF - Responsible for the sale of three performing loan portfolios aggregating $674 million secured by hotels, office and retail properties.
- Amerivest Office Portfolio - Disposition of 12 office properties with 1.7 million square feet in various locations. This was the liquidation of a private REIT with total sale proceeds generated of $273 million.
- Westin Kierland Resort & Spa - Originally arranged the construction financing for this 730 room resort in Scottsdale, Arizona. Also, arranged a $135 million take-out of the original construction financing.
Previously, Mr. Pearlman was with Trammell Crow Company as a Senior Vice President and Co-Head of its capital markets group in the Metropolitan New York, New Jersey and Connecticut region and also served as the leader of that firm’s national debt capital products group. Prior to that, he held senior positions at Jones Lang Wooton and, subsequently, Jones Lang LaSalle. Mr. Pearlman started his career at Manufacturers Hanover Trust as a Corporate Banker and led its New York Real Estate lending team.
Cassidy Turley is continuing to expand its presence and capabilities across the nation by investing in new office locations, business lines and talent as part of a strategic plan to deliver integrated solutions, economies of scale and geographic reach. In September 2011, Cassidy Turley expanded its capital markets group with the appointments of Bob Gilley, Executive Managing Director, and Steve Hermann, Executive Managing Director. Mr. Gilley and Mr. Hermann join Cassidy Turley Northern California from CB Richard Ellis’ investment properties-institutional group.
About Cassidy Turley
Cassidy Turley is a leading commercial real estate services provider with more than 3,400 professionals in more than 60 offices nationwide. The company represents a wide range of clients—from small businesses to Fortune 500 companies, from local non-profits to major institutions. The firm completed transactions valued at $18 billion in 2010, manages 455 million square feet on behalf of private, institutional and corporate clients and supports more than 25,000 domestic corporate services locations. Cassidy Turley serves owners, investors and occupiers with a full spectrum of integrated commercial real estate services—including capital markets, tenant representation, corporate services, project leasing, property management, project and development services, and research and consulting. In 2010, the firm enhanced its global service delivery outside of North America through its partnership with GVA. Please visit www.cassidyturley.com for more information about Cassidy Turley.