I did not see any coverage on Mack Real Estate Group to date on WSO. I was wondering what professionals think of the firm, hours, deal-flow ect. Seems it was founded by Peter Sotoloff, who led originations for Blackstone's debt fund.
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Not to be confused with Mack Real Estate Development who just sold 50% of their Greenpoint waterfront mixed use bldg for $350mm to Ohio State Teachers Retirement System?
Yes, different group, this firm is run by Robert Mack and Peter Sotoloff.
Their floating rate program is/was 6-6.5%, but higher LTC and no PG. In my opinion they are not passively turning construction deals down, turning a decent but not overly expensive spread. Cheaper than floating plus mezz. There is a place for them.
Good place to be I'm sure, you'd see a lot of deals
Thanks so much for the response
I actually just left a shop (Bank/Lender) that did a crapload of business with Mack (mezz buyer/repo, etc). Super smart guys that do a ton of transitional deals (think pre-dev, construction, heavy capex/leasing lifts, etc.).
Is there anything specific you need to know?
Thanks for the response, will pm
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