Cushman & Wakefield Adds Manhattan to Merin's Investment Territory
6 May, 2010, New York
Andrew Merin, a Cushman & Wakefield Vice Chairman and the firm's No. 1 Investment Sales professional nationally in 2009, will expand his team's coverage of the New York tri-state region into Manhattan, effective immediately, said Frank Liantonio, Executive Vice President of the firm’s U.S. Transaction Services.
"Andy and his team are consistently the best of the best in the tri-state region and nationally for Cushman & Wakefield, and we are very pleased that they will add Manhattan to their existing territory," said Mr. Liantonio.
The move is part of an overall strategic realignment of Cushman & Wakefield's Capital Markets Group that creates a New York metropolitan hub, offering a fully integrated suite of services including Debt and Equity Finance, Investment Banking and Investment Sales.
New York is the base of operations for Cushman & Wakefield Sonnenblick Goldman, the company's debt and equity finance and hotel transaction subsidiary, which recently arranged the $145 million refinancing for the Graybar Building and $212 million financing of a nine-hotel portfolio on behalf of FelCor Lodging Trust Inc. The company’s U.S. Investment Sales platform is based in New York, as is its Corporate Investment Banking Group, which arranged the sale-leaseback of the New York Times headquarters in 2009.
The company expects that bringing Mr. Merin's and his team's expertise and long-term institutional relationships into its Manhattan operations will be complementary to its entire Capital Markets Group and its clients in New York and nationally.
In 2009, in addition to Mr. Merin, three other members of the Metropolitan Area Capital Markets Group were ranked in the top 10 of Cushman & Wakefield's Investment Sales professionals nationally. Last year, Mr. Merin's team achieved a 43 percent market share in the New York tri-state suburbs.
Mr. Merin and members of the New York Metropolitan Area Capital Markets Group will maintain offices in New York and New Jersey.
# # #