HREC has announced the expansion of its Capital Markets Group with the hire of finance expert Greg Porter as a senior vice president. A commercial real estate veteran with over 20 years of experience in lending, brokerage, consulting and valuation, Mr. Porter joins as a senior member of the Capital Markets Group, headquartered in HREC’s San Diego office. Mr. Porter is charged with growing the HREC mortgage brokerage platform, and reports to HREC CEO Mike Cahill and HREC Capital Markets Head Michael Armstrong.
The Hotel Capital Markets Group of HREC focuses on arranging acquisition debt, refinancing existing debt, and employing structured finance strategies utilizing subordinate debt, preferred equity, and other forms of capital to provide a complete range of capital solutions for its clients. While HREC Investment Advisors is best known as a market leading hotel sales advisor with over 800 completed sales, the professionals within HREC Capital Markets Group have also arranged in excess of $6 billion of hotel debt for its clients.
Mike Armstrong, head of the Capital Markets Group, stated “Greg brings a wealth of lending relationships and knowledge to our team that greatly enhances our ability to provide a full range of finance solutions to our clients. Hotel owners often are unaware of the variety of finance options available to them – our objective is always to provide a range of finance solutions tailored to our clients’ objectives so they can make informed mortgage decisions. As we enter 2017, hotel owners must factor the potential for higher rates into their finance decisions, and our clients are increasingly turning to our Capital Markets team to weigh options and employ calculated finance strategies in concert with their long term goals.”
”HREC is excited to have experienced mortgage specialist Greg Porter join our national platform” commented HREC’s CEO and founder Mike Cahill. “Greg’s unique skill set will further enhance our ability to offer “best in class” mortgage brokerage services to our client base.”
Mr. Porter comes to HREC from commercial real estate lender MC-Five Mile Capital where he served as managing director and head of the firm’s West Coast office. Previously Mr. Porter served on the Merrill Lynch and Bear Stearns CMBS loan origination teams where he structured and closed over $1.5 billion in fixed and floating rate transactions.