Image courtesy of George Smith Partners<\/em><\/p><\/div>\nZachary Streit chose real estate finance over law. \u201cReal estate is a super entrepreneurial profession, at least the aspect of it that I currently work in, which I really like,\u201d he said. \u201cI always thought there was a ton of opportunity in the space.\u201d<\/p>\n
Streit has arranged and closed more than half a billion in equity and debt financing deals and underwritten more than $5 billion worth of deals during his 10 years in the business. Last year, Zack and his team secured $115 million in construction financing for a 326-key, four-star Radisson Blu Hotel in Anaheim, Calif. Streit worked with George Smith Partners Principal & Managing Director Malcolm Davies on behalf of developer BPM Real Estate Group.<\/p>\n
\u201cIt was part of a trend in the Disneyland submarket, where several four-star hotels are being built. Two others are going up right now,\u201d he said. \u201cThere\u2019s a notable hole in that submarket, in that space.\u201d<\/p>\n
Streit got his first taste of real estate during his high school summer breaks doing maintenance work on the apartment buildings his parents owned in the San Fernando Valley. The experience led him to choose law as a profession and not real estate. But that would change.<\/p>\n
\u201cI was in my second year, figuring out what I wanted to do,\u201d Streit said. \u201cI was taking a real estate tax class, and Vornado Realty Trust CFO Joseph Macnow came and lectured in one of our classes. I walked up to him and said: \u2018I thought that what you spoke on was really fascinating. Would you consider having me as an intern for the summer?\u2019\u201d<\/p>\n
After graduating Cardozo School of Law, Streit pursued a master\u2019s degree in real estate at New York University. A few months in, he obtained his first full-time job in the business at U.K.-based Aviva Investors\u2019 New York office. \u201cI was so lucky to have gotten a job at the end of 2007, when the world was falling off a cliff. If that hadn\u2019t happened, I don\u2019t know where I would be. I guess it was grit, determination and a bit of luck,\u201d he added.<\/p>\n
He joined George Smith Partners in Los Angeles in 2016. <\/p>\n
Biggest Mentors: <\/strong>His parents, Aric and Mary Streit, and Malcolm Davies, for whom Streit has been working about a year and a half.<\/p>\nGoals for the Future:<\/strong> \u201cMy goal is to continue building a book with Malcolm, growing it, helping my clients scale and having fun throughout the process. The rest will fall into place.\u201d<\/p>\nIf He Weren\u2019t in Real Estate, He Would Be\u2026<\/strong> a professional tennis player. \u201cI\u2019ve been a sports guy my whole life. I don\u2019t have the athletic, genetic gift, but if I did, I would have loved to be a professional tennis player. Tennis has always been a passion of mine. I inherited it from my father.\u201d<\/p>\nMeet the rest of CPE’s Stars to Watch for 2019<\/em>\u2014commercial real estate’s top young talent.<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"Zachary Streit chose real estate finance over law. \u201cReal estate is a super entrepreneurial profession, at least the aspect of it that I currently work in, which I really like,\u201d he said. <\/p>\n","protected":false},"author":236,"featured_media":1004333426,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21809],"tags":[46082,33306],"class_list":["post-1004333420","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-not-endorsed","tag-cpes-stars-to-watch","tag-george-smith-partners"],"acf":[],"yoast_head":"\n
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