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Wednesday, 02 May 2018

PeerStreet Hires John Devereux as Chief Real Estate Officer

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Commercial Real Estate Direct Staff Report

PeerStreet, a crowdfunding platform that has funded more than $900 million of loans since its launch in 2014, has hired John Devereux as chief real estate officer.

Devereux is charged with overseeing and managing loans that the Los Angeles company offers on its platform. It sources the loans it offers to investors through about 100 non-bank lenders. The lenders originate and underwrite loans and offer them to PeerStreet, which makes them available to accredited investors, that is, those with a net worth of at least $1 million.

PeerStreet mostly funds loans against one-to-four family homes. But it recently launched a commercial mortgage business led by Greg Galusha, a 25-year veteran of the commercial real estate investment sector who will report to Devereux. That platform initially will focus on offering loans of $100,000 to $5 million against multifamily properties and mixed-use properties with a residential component.

"We'll continue to expand our products over the next 12 to 24 months," Devereux said. "We want to be able to bridge the gap between where the investor demand is and where the originators that we purchase loans from see a need for financing."

Devereux has worked in commercial real estate for 28 years and has experience in debt and equity investments. He spent six years as head of commercial real estate at OneWest Bank and nine years as principal at Colony Capital.

"We brought John in to oversee all real estate operations from sourcing lenders, underwriting loans and ongoing account management of those lenders and asset management, as well, making sure loans perform," said Brett Cosby, PeerStreet's co-founder and chief operating officer. "There were opportunities to improve getting everyone aligned. That's why we brought John in."

Comments? E-mail Tim Casey or call him at (267) 397-3347.


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Additional Info

  • Syndicate to Realpoint: No
  • Subject: Executive Changes (EXEC)
  • Private: No
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Data Digest







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




cppichart FP



CMBS 2.0 Spreads


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





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