Inventory for all property types declined in almost all areas, except for Rockland’s condo and co-op markets, the latter with an 84.6% gain. The Bronx led the region for new listings, with a 31.9% increase.
PrimeSource, which is a leading manufacturer of proprietary brands and a distributor of premier third-party brands, will utilize the location to service New York, New Jersey, Connecticut and Pennsylvania.
CBRE announced recently that James Millon has been appointed President of U.S. Debt and Structured Finance (DSF) for the United States. Millon will steer CBRE’s DSF business in the U.S.—a leading provider of commercial and multifamily financing—and will be responsible for expanding the firm’s debt and structured finance capabilities nationwide. CBRE’s DSF business has averaged more than $70 billion of loan originations over the past two years, manages a more than $395 billion loan servicing portfolio, and is a leading Fannie Mae DUS (Delegated Underwriting and Servicing) and Freddie Mac Optigo Multifamily lender.
“James is a market-leading capital markets expert who knows our clients, people and platform extremely well and is highly regarded across the investor and lender communities,” said Chris Ludeman, Global President of Capital Markets for CBRE. “He is the perfect leader to drive the growth and continued improvement of our DSF business, particularly at this time of market uncertainty when investors rely on our insight and market access.”
Millon, who is based in New York City, has originated more than $75 billion in commercial real estate loans. He most recently served as Vice Chair and Co-Head of U.S. Large Loans. Since joining CBRE in 2016, he and his partner Tom Traynor have arranged more than $45 billion of large transactions, including the $1.77 billion financing of 245 Park Ave. for HNA; $1.70 billion financing of Blackstone’s Cabot Industrial Portfolio; $1.40 billion financing of Oxford’s Project Newport Industrial Portfolio; $1.25 billion construction financing of Terminal Warehouse, owned by L&L, Columbia Property Trust, JP Morgan and Allianz; $1.07 billion financing of Blackstone’s Project Solar Multifamily Portfolio; and the $1.03-billion Stonemont Net Lease portfolio.
Millon will assume his new responsibilities on November 1. He will transition his deal activities to Traynor and their team, enabling him to focus full-time on elevating and growing the U.S. DSF business, helping CBRE DSF professionals generate exceptional outcomes for clients. Prior to CBRE, Millon held senior positions in commercial real estate capital markets at Deutsche Bank, and earlier at Société Générale on its large loan origination and structuring team.
City and State honored 100 “New Yorkers who are on the front lines, creating jobs and spurring economic growth on the local, state and national levels.”
Adler has been an ardent supporter of many nonprofit organizations and serves or has served in numerous leadership roles on nonprofit boards throughout our region.
Receive original business news about real estate and the REALTORS® who serve the lower Hudson Valley, delivered straight to your inbox. No credit card required.
