{"id":1004293835,"date":"2019-01-23T03:25:57","date_gmt":"2019-01-23T11:25:57","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004293835"},"modified":"2019-01-23T03:25:57","modified_gmt":"2019-01-23T11:25:57","slug":"george-smith-partners-opens-nyc-office","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/george-smith-partners-opens-nyc-office\/","title":{"rendered":"George Smith Partners Opens NYC Office"},"content":{"rendered":"
\"Ed<\/a>

Ed Steffelin, Senior Vice President, George Smith Partners<\/p><\/div>\n

George Smith Partners is now bicoastal. The Los Angeles-based commercial real estate capital markets advisory firm just established a presence on the East Coast with the opening of an office in Midtown Manhattan.<\/p>\n

GSP\u2019s expansion of its U.S. footprint comes 25 years after the company\u2019s formation. Malcolm Davies, partner & managing director at George Smith Partners, said in a prepared statement that the opening of the new office \u201cwill deliver increased access to capital and a greater capacity to serve clients throughout the nation.\u201d<\/em><\/p>\n

GSP has selected Ed Steffelin, a well-established figure in the commercial real estate industry, to head the New York office in his capacity as senior vice president. Steffelin arrives at GSP after having held the position of executive vice president of capital markets at multinational real estate investment and development firm Walton International Group. Over his 25 years in the investment arena, he has cultivated an expertise in structured products, alternative assets and real estate.<\/p>\n

Right time, right place<\/strong><\/h2>\n

Certain conditions in today\u2019s real estate market helped motivate GSP to set up shop in New York. \u201cAs the nation\u2019s propensity and need for mixed-use and master-planned residential product grows, there is an opportunity to capitalize on this market, which has been traditionally underserved by capital,\u201d<\/em> Steffelin said in prepared remarks. Steffelin also brings to his new role a strong background in the housing and land development sectors.  <\/p>\n

Steffelin added, \u201cOur new New York presence offers the ability to expand our East Coast network and offerings to meet the needs of more clients throughout the U.S.\u201d<\/em><\/p>\n

Steffelin will operate as part of the Malcolm Davies team, which ended 2018 with the completion of more than $750 million in real estate debt and equity deals. Transactions last year included the firm\u2019s co-brokering of $122 million<\/a> in joint venture equity and non-recourse bridge financing for the development of a 250,000-square-foot creative office campus in downtown Los Angeles. The company also facilitated a $115 million construction loan<\/a> for a 326-key Radisson Blu Hotel near Disneyland in Orange County, Calif. And at the close of the third quarter, GSP put together $105.5 million in loans<\/a> to finance the $150 million initial phase of the 250,000-square-foot The Watermark Tempe, a mixed-use waterfront project in metropolitan Phoenix.<\/p>\n

Currently, the Davies team has more than $1 billion in transactions in its 2019 pipeline.<\/p>\n

Image courtesy of George Smith Partners<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

The expansion to Manhattan marks the Los Angeles-based capital markets advisor\u2019s first location on the East Coast. Ed Steffelin will head the new outpost in his capacity as senior vice president.<\/p>\n","protected":false},"author":969,"featured_media":1004293841,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21808,21825,1600,21742,10,21744],"tags":[33306,38087],"class_list":["post-1004293835","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-featured","category-finance","category-new-york","category-latest","category-northeast","category-people","tag-george-smith-partners","tag-malcom-davies"],"acf":[],"yoast_head":"\nGeorge Smith Partners Opens NYC Office - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/george-smith-partners-opens-nyc-office\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"George Smith Partners Opens NYC Office\" \/>\n<meta property=\"og:description\" content=\"The expansion to Manhattan marks the Los Angeles-based capital markets advisor\u2019s first location on the East Coast. 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