Trez Capital expands bridge loan business with UBS Hire – Commercial Observer

After a race of more than seven years at UBS, Justin driscoll was called upon to take up a new challenge within the framework of Trez Capital’s initiative to strengthen its bridge loan platform from coast to coast.

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. senior initiator at UBS, hits the ground running from Trez’s Manhattan office in the Racecourse building to 1120 Avenue of the Americas with a target of reaching $ 500 million in bridging loan volume by the end of 2021 and $ 1.5 billion by the end of 2022.

“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 industry and the gateway side of it,” said Driscoll, who works under the direction of Darren esser, the head of Trez bridging loans and US capital markets. “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.”

At UBS, Driscoll has entered into more than $ 1 billion in commercial real estate loans (CREs) for the company’s commercial mortgage-backed securities balance sheet lending programs. Prior to UBS, the Long Island native was vice president of investment solutions for the Partner group. He started his career at CRE in Lehman Brothers global commercial real estate group.

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

“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 ahead of our clients with deck 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 looking for deals in salvage asset classes like reception and office. 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 Mortgage Bankers Associationn, Driscoll obtained a Bachelor of Science in Finance and Business Economics from the University of Notre-Dame‘s Mendoza Business College. He then obtained his master’s degree in business from Cornell University‘s Samuel Curtis Johnson Graduate School of Management.

“We are delighted to have another industry veteran join our rapidly growing leadership team as we continue to expand our bridge loan program from coast to coast,” Esser said. “Justin has over 20 years of experience in sourcing, structuring and distributing commercial real estate loans from top to 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 reached at [email protected]

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