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Trez Capital expands bridging business with UBS Hire – Trade Observer

“This is a great opportunity not only to join an established company in the lending business, but to be part of a team that is developing the business line and the bridge side of it,” said Driscoll, who works under the direction of Darren Esser. , Head of Bridge Loans and US Capital Markets at Trez. “It was fun not only to step in and make loans, which I loved doing in my career, but also to build a business, hire and really set up our office.” Driscoll recently began his new role as Managing Director of Trez’s real estate bridge financing program and is the company’s first hire focused on the eastern and southeastern regions of the United States. the ground floor of Trez’s Manhattan office in the Hippodrome Building on 1120 Avenue of the Americas with a goal of reaching $ 500 million in bridging loan volume by the end of 2021, and 1.5 billion dollars by the end of 2022.

Working alongside Esser and the Trez Capital assembly team, Driscoll said he wanted to build on the company’s long history of construction loans.

At UBS, Driscoll has entered into more than $ 1 billion in Commercial Real Estate Loans (CREs) for on-balance sheet commercial mortgage-backed securities lending programs. Prior to UBS, the Long Island native was vice president of investment solutions for Partners Group. He started his CRE career in the global commercial real estate group of Lehman Brothers.

“The idea behind our bridge platform was really to bolt it alongside the construction platform to position us to take out good bridging loans in the market, but also have the ability to stay in front of our customers with bridge products, ”Driscoll said. “As clients exit their construction loans, we are able to provide them with an attractively priced bridging loan to ultimately stabilize a property or exit. “

In addition to leveraging Trez’s long-standing work in the multi-family sector, Driscoll is also seeking deals in salvage asset classes like hotels and offices. He sees a particular opportunity in the area of ​​affordable housing, which sponsors are building in some markets with large in-migration patterns, such as the South East.

A member of the Mortgage Bankers Association, Driscoll received a Bachelor of Science in Finance and Business Economics from the Mendoza College of Business at the University of Notre Dame. He then received his Master of Commerce from the Samuel Curtis Johnson Graduate School of Management at Cornell University.

“We are delighted that another industry veteran is joining our rapidly growing management team as we continue to expand our bridge loan program from coast to coast,” said Esser. “Justin has over 20 years of experience in sourcing, structuring and distributing commercial real estate loans from the top to the bottom of the capital structure. Our established industry relationships, aggressive sourcing strategies and successful track record will benefit our team, propelling Trez Capital’s growth in the bridge loan market.

Andrew Coen can be contacted at [email protected]

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