SEATTLE, WA – November 11, 2020 – Berkadia announced today the expansion of its Northwest regional presence with the addition of six members to its robust investment sales and mortgage banking platform in Seattle, Washington. Managing Directors Jay Timpani, Mitchell Belcher, Steven Chattin and Robert Doxsee and Associate Directors Chad Blenz and Michael Manolides all join Berkadia from CBRE, where they were among the organization’s highest performing advisers in the region.
Berkadia’s investment reflects the continued strong performance of the Northwest multifamily market, driven by the region’s sustained growth led by Seattle, which was recognized as the fastest-growing major city of the 2010s.
“Seattle and the Northwest remain among the most dynamic and robust multifamily markets in the country, as evidenced by some of the blockbuster work that our team has been up to, including the 2019 sale of Mark on 4th and Beacon at Center, Huntington Park, and Colby Creek, the combined total of which was nearly $270 million, setting a new high-water mark in the Everett/Snohomish County market,” said SVP and Head of Investment Sales Keith Misner. “This is how we’ll continue to expand our footprint, particularly with clients looking for private capital opportunities, where Jay, Mitchell and Steven truly excel. They will be the perfect complement to our current team, which is known for its expertise with larger, institutional level opportunities.”
Timpani, Belcher and Chattin all served as Senior Vice Presidents at CBRE and combined bring more than 50 years of experience in multifamily investment sales. They, along with Blenz, will join Berkadia’s Seattle investment sales team, led by Senior Managing Director Kenny Dudunakis and Senior Directors Ben Johnson and David Sorensen. All four will report to SVP and Head of Investment Sales Keith Misner.
“Jay, Mitchell and Steven are prolific in the region and respected and trusted by investors and their peers alike,” said Dudunakis. “We’re excited to join forces to bring the full spectrum of investment advisor services and expertise to clients and investors across Seattle and the Northwest.”
In addition to Timpani, Belcher, Chattin and Blenz on the investment sales side, Doxsee and Manolides will join Berkadia’s mortgage banking team in Seattle and will report to Senior Managing Director Kevin Kozminske. Doxsee served as an Executive Vice President at CBRE, with Manolides on his team.
Doxsee brings to Berkadia more than two decades of commercial real estate debt experience, with a particular focus on small balance lending. He’ll join Berkadia’s strong multifamily debt platform, which arranged over $17 billion in combined agency loans in 2019 and was ranked as Freddie Mac’s #1 Conventional Optigo lender and among Fannie Mae’s top five DUS producers for Small Loans.
“Robert is among the most knowledgeable and experienced mortgage bankers in the country, particularly when it comes to agency small loan financing,” said Hilary Provinse, EVP and Head of Mortgage Banking. “It’s why he was ranked first nationally in small balance loan production at CBRE last year, and why he was a natural choice to expand our small balance loan program. We’re thrilled to add his expertise to our team to better serve our clients and continue to grow our SBL program.”
The new hires in Seattle come on the heels of several high-profile additions to Berkadia, which has maintained a keen appetite for talent in spite of the pandemic. In August, the organization acquired LIHTC Advisors, an Idaho-based brokerage firm dedicated to affordable housing. Since mid-March, Berkadia has added investment sales and mortgage banking resources to its teams in New York City, Chicago, Houston, Philadelphia, Dallas, Indianapolis, Denver, St. Louis, Orlando, Richmond and Birmingham.