Daily market intelligence on mortgages, equity raising, investment sales, and CMBS.

Error
  • JUser: :_load: Unable to load user with ID: 65
Wednesday, 03 March 2010

Former JPMorgan Exec Michael Errichetti Joins KBW

Written by 
Rate this item
(0 votes)

Michael Errichetti, a former JPMorgan real estate investment banker, has joined Keefe, Bruyette & Woods as managing director and head of its real estate investment banking unit.

Errichetti, who had been at JPMorgan for some 25 years, until last year had been a managing director in its real estate operation and had worked on a number of big-ticket deals, such as the $8.9 billion sale of Trizec Properties to a venture of Brookfield Properties Corp. and Blackstone Group and the $6.2 billion sale of New Plan Excel Realty Trust to Australian trust Centro Properties Group. In total, he played a key role in some $70 billion of transactions.

"KBW is very committed to growing our real estate business," said John Duffy, chairman and chief executive of the investment bank. "We were looking for a veteran, established real estate investment banker to help take our business to the next level."

KBW got its toes into the real estate sector in 2007 when it moved a managing director, John Dalena, to head its REIT investment banking unit. Real estate then became the firm's fourth major practice, after banking, insurance and diversified financial services.

The firm now has five analysts covering 63 public real estate companies, a REIT trader, a distribution team and private-equity team that raises funds and equity for real estate clients.

Comments? E-mail Orest Mandzy or call him at (267) 247-0112, Ext. 211.



weekly-call-to-action

“The Weekly”

“The Weekly” is Commercial Real Estate Direct’s PDF newsletter, sent to subscribers every Friday morning. With over 100 news stories published on Commercial Real Estate Direct each week, “The Weekly” features the top stories in commercial real estate that industry participants need to know first. “The Weekly” also contains:

  • Breaking mortgage, CMBS, and REIT news

  • Quarterly league tables with rankings of B-piece buyers, book runners, and lenders

  • Industry moves and changes in “The Insider“

Additional Info

  • Syndicate to Realpoint: No
  • Subject: Executive changes, general (EXECG)
  • Deal Name: Bear Stearns Commercial Mortgage Securities Trust, 2006-PWR12
Read 1550 times

Data Digest

 

CMBS DELINQUENCY VOLUME

dqdataFP1

 

CMBS SPECIAL SERVICING VOLUME

sschartfp

Top Bookrunners Domestic, Private-Label CMBS - 2017
Investment Bank #Deals Vol$mln MktShr%
Goldman Sachs 17.59 11,819.34 13.68
JPMorgan Securities 14.52 10,968.11 12.70
Citigroup 12.04 10,012.71 11.59
Wells Fargo Securities 14.02 9,936.06 11.50
Deutsche Bank 12.55 9,879.74 11.44

 

RCA CPPI

 

cppichart FP

 

 

CMBS 2.0 Spreads

AAAspreads

Top CMBS Loan Contributors - 2017
Lender #Loans Vol$mln MktShr%
Goldman Sachs 146.89 11,719.34 13.63
JPMorgan Chase Bank 117.68 10,114.14 11.76
Deutsche Bank 198.48 9,689.97 11.27
Morgan Stanley 166.18 8,539.78 9.93
Citigroup 199.05 8,088.24 9.41

 

 

 

REITCafe

  • Challenging Retail Environment Weights on REITs
    Mixed economic news is weighing on retail markets, pushing REIT performance down in 2015. This week, the National Retail Federation announced that back-to-school spending is expected to be down 9.3% in 2015. This news came on the heels of a report from the Commerce Department stating that retail sales declined 0.3%...
     
  • US REITs Feeling Effects from Turmoil in Greece and China
    International economic forces have taken center stage this week, affecting both US stock markets and REITs. The crash in the Chinese stock market and ongoing concerns about the future of Greece in the eurozone drove markets down during the first half of the week. REITs fared better than the overall market...

  • What Does Increased Construction Mean for Apartment REITs?
    REITs so far this year have raised $17.1 billion of capital through the sale of unsecured notes, bringing the total raised over the past two and a half years to just more than $75 billion. That’s more than they raised during the previous five years. The massive volume shouldn’t be a surprise as it comes while the yield from 10-year Treasury bonds, the benchmark...
shouldn’t be a surprise as it comes while the yield from 10-year Treasury bonds, the benchmark against which most REIT’s price their bonds
warehouse-backstage