Jonathan More, Director at Mission Capital Advisor’s Debt & Equity Finance Group, is interviewed for this week’s Mortgage Observer Weekly Q+A feature.
MORTGAGE OBSERVER WEEKLY
The Insider's Weekly Guide to theCommercial Mortgage Industry
November 8, 2013
Dire(..1:or at Mission Capital Advisors, Debt and
Equity Finance Group
build ncwonesis important to Mi.'ISiOrt
!'crsonaUy, I am inen.'llibly hands-on
and am involved in every detail of c-..ch
Mission Capital, and having th.is!ull team fot'US<'.C.I puts us in a great position to ex· ccutc and gj'cs our clients trcmcndol!S comfort.
llfortoaaeW«k(y: How did
you get your start in the bu!Jine…, and
what led you to join liiuion Capital
Jonathan More: After worldf4! for a suburban dt•wloper alcr college, I joined CO!lli Group in :O:cw York, an amazinfty well–runt'Ompany, which bada rc-.U im pat1 on my carL'<'r.It was at COR£ wbcro I truly learnt'll the real cstnlc business,the ploy ers and how to negotiate and put deals to gether. l'rior to joining Mission, I worked
for Ackman-Ziff KcalJi.statc Group.anoth
er storiL'll real estate firm for which J have tremendous rcspL-ct.
Mb;sion C"''ital has an cxirnorc:linary platform and an cnlftprcneu rial style, which is very ini, ting to clicni.Js. Ucal cxc t'U tion and n.,;ults on behalf of clients arc superb, and 1ission
in front of market trends and new capital soun.'<'s arising for both debt and equity. "J'hc •team fi.rst" approach is a core value
of theflrm.li'Crymembersitson thesame tr.Wing dt-sk. and the flow of marl<cl/dcal
information is rca ! time and continuous.
What doesyour roleentail?
I help in the origin.alinstructuri'4!and L'Xt:cuting of debt and equity capital trans adions on behalf of owner·opcratono., de· velopers, 1'.1;.. finm and famiy Relationships arc the oornerstone of the real cstal.e business;assuch, holding long
sbndlng relationships and continuing to
What kinds of deals an: yuur main focus?
Retail, office and multi runily propel"
understand the nuances and min u tiac of
each asset class, wh.ich bas bt'Cn benefi cial in analyzing deals upfront and work· i'4! through deal issu'S that arise during CXL'altiort 'l'hc next generation of owner operators. dC'l'lop;;rs and private l'Quity
fll11ls have made an indelible mark on thj,;
cycle,andmylong–tcrmrcla1ionshlpswith thcsot.'Onlcm poraries bavo been helpful in cstllblishingexcculion capability and trust in choosi'4!an intermediary partner.
What arc the largest deals you'i.,_. dosed in the past11>"0 ycarh
11lc Orill Uuilding was a $2.'1.> million rnixcd-lliKl property at-quisition in the llow-'llc North portion of Times Square, where we set'Urcd the full C"!'ital stack
senior mortgage.preferred equity and .lV.
equity– on behalf of a realestateentrepre• ncur.The other deal was Herald lowers,at the crossroads of Hcr.Ud Square, in which
'''":u-r.tngt-d a S275 milliort super long term mortg.:lgc from a life insurance com· p;tnyon behalf of afumilyoffice.Ooth deals
arc a testament to today's mari<ct liquid ity, as well as the value of hiring an intcr mt.'lliarytorun a formal prot'<'ssin ordcr to o.chicTC superior results.
What an: tbemaintn:nds tbat you cur
rently """inyuuran:aofthe rnarkL-t?
There is tremendous debt/capital mar lu:tsappetito!orbridgcfmancing.wh.ichhas helped cffcctUJrtc I1lllll)'dealsin the mwkd.
1"h.is oompdi!Nc landscape h"" made the floating rate loan markc.1price efficiently, and it has creatt'll wonderful financing op portunitit-s !or quruity sponsors ocquiring q uality.'aluc–add projL-cts.NYC multifum nyand offtoe bui dings in need of hands-on repositioning arc the most common areas where we continue tosucecssfulty CX(.'(.'Utc
on this strat(duringthis q'clc. l:m