On Thursday, January 14, we proudly hosted Berkadia’s 2021 Forecast Webinar, a conversation about the themes and trends expected to shape investor behavior, including the multifamily housing market in the year ahead. Mary Ann King also joined us to discuss our newest specialty group, Berkadia Institutional Solutions, powered by Moran, a platform dedicated to offering institutional real estate investors best-in-class customized capital solutions to meet their long-term real estate goals.
We are proud to also share our 2021 Forecast Report, an analysis of national multifamily trends paired with market-specific highlights. As always, we’re committed to sharing the latest insights, data and thought leadership with our clients and partners. As we navigate this ever-changing landscape together, that commitment has never been more important, so we hope this webinar and report will serve as valuable resources to you and your team.
Featured Speakers:
Justin Wheeler – Chief Executive Officer – Berkadia: Justin Wheeler is Chief Executive Officer and a member of Berkadia’s Management Committee.
Prior to joining Berkadia, Mr. Wheeler was the Chief Operating Officer of Leucadia National Corporation and was appointed Vice President of Leucadia in 2006. As part of his prior role, Mr. Wheeler was responsible for M&A activities, operating portfolio performance, cash management and investment, as well as various administrative functions. Previously, he served as President and Chief Executive Officer of American Investment Bank, N.A., a wholly owned subsidiary of Leucadia.
Ernest Katai – EVP, Head of Production – Berkadia: Ernest Katai is Executive Vice President, Head of Production and a member of Berkadia’s Management Committee. In this role, Mr. Katai oversees approximately 240 experienced mortgage bankers and investment sales advisors. Under his leadership, the company’s mortgage banking division has grown by 90 percent, while investment sales have increased by 103 percent. In 2019, Berkadia’s combined production volume of loan origination, investment sales and JV equity placements exceeded $36 billion.
Mr. Katai has been with Berkadia and its predecessors’ companies for more than 25 years, working as a leading mortgage banker throughout his tenure. Prior to his current position, Mr. Katai led the Detroit Office to the top originating office in the State of Michigan. The office now regularly produces mortgage banking and investment sales volume of approximately $2 billion annually. Mr. Katai has an extensive background in loan origination that includes construction lending, interim loans, structured loans, tax free financing, joint ventures and equity investments. Mr. Katai has originated transactions with more than 50 capital sources including multiple life companies, credit companies, banks, conduits, and pension funds. Previously, Mr. Katai did construction lending for Comerica Bank and real estate structured credit financing for Ford Motor Credit.
Hilary Provinse – EVP, Head of Mortgage Banking – Berkadia: Hilary Provinse is Executive Vice President, Head of Mortgage Banking and a member of Berkadia’s Management Committee. In this role, Ms. Provinse oversees more than 148 experienced mortgage bankers and their teams located in 40 offices across the country. These bankers serve clients across all multifamily and commercial real estate channels, including specialized teams with expertise in seniors housing and healthcare, hotels and hospitality, student housing, affordable housing and manufactured housing. Ms. Provinse ensures that clients benefit from our market leadership and deep relationships with diverse capital sources, including Berkadia’s 48 Life Company’s correspondents, banks, CMBS, Debt Funds, Fannie Mae, Freddie Mac and HUD.
In 2019, Berkadia’s combined production volume of loan origination, investment sales and JV equity placements exceeded $36 billion, of which $27 billion is attributed to the company’s mortgage banking division. Berkadia was also ranked as Freddie Mac’s number one conventional Optigo lender.
Previously, Ms. Provinse was Senior Vice President and Head of Customer Engagement at Fannie Mae, where she managed the team who was responsible for all of Fannie Mae’s production activities and customer relationships – overseeing more than $100 billion of production during the course of her tenure. Prior to joining Fannie Mae in 2003, Ms. Provinse spent 10 years on Wall Street in investment banking, working for Goldman Sachs & Co. and Bear Stearns & Co. in New York.
Keith Misner – SVP, Head of Investment Sales – Berkadia: Keith Misner is Senior Vice President, Head of Investment Sales and a member of Berkadia’s Management Committee. In this role, he is responsible for accelerating the growth of the firm’s national investment sales platform and coordination of all operating aspects, including recruiting. Mr. Misner has more than 30 years of national commercial real estate experience with success in investment sales, asset management and development aspects in both public and private owner/investor firms and major service providers.
Prior to Berkadia, Mr. Misner served as Senior Vice President and Portfolio Manager at Abacus Capital Group LLC for the newly established Abacus Core Investment Fund I LP. Previously, he was Senior Vice President of Transactions at AIMCO, the Denver-based nationally active REIT. During his career, Mr. Misner has also worked in senior leadership roles at Grubb & Ellis, CBRE, and Cushman & Wakefield where from 2003 to 2010, he was a national leader.
Dori Nolan – SVP, Client Services – Berkadia: Dori Nolan is key to Berkadia’s production leadership team as Senior Vice President of National Client Services. She has extensive multifamily transaction expertise and industry-wide relationships. Her primary focus entails coordinating Berkadia’s Investment Sales, Mortgage Banking, and other Berkadia services for Berkadia’s most active multi-market and/or institutional apartment capital sources. She leads a national initiative to continue to grow business relationships with current clients and new clients, helping them to better understand the full potential of Berkadia’s services. She is also responsible for collaborating with Berkadia’s Investment Sales and Mortgage Banking specialties to improve customer support programs and enhance customer service satisfaction. Dori was previously a partner with Capri Capital Partners where she was responsible for all investment activities including acquisitions, dispositions, and financing efforts.
Aneta Markowska – Chief Financial Economist – Jefferies: Aneta Markowska joined Jefferies in April 2020 as a Managing Director and Chief Financial Economist. She is responsible for analyzing and predicting trends within the government debt and broader Fixed Income markets, including interpreting actions of the U.S. Federal Reserve.
Ms. Markowska joined Jefferies from Cornerstone Macro, where she was Deputy Chief Economist. Previously, she was Chief U.S. Economist at Société Générale where she spent 11 years. She started her career in interest rate derivatives at BNY/Mellon and has also worked as an analyst at Ardent Research Partners.
Ms. Markowska graduated summa cum laude from Drexel University with a BS in Finance and holds an MA in Economics from New York University. She is a CFA charter holder, a member of CFANY and NABE, and a former president of the NY Association for Business Economics (NYABE).
Mary Ann King – Co-Head of Investment Sales and Head of Berkadia Institutional Solutions, powered by Moran – Berkadia: Mary Ann King is the Co-Head of Investment Sales and Head of Berkadia Institutional Solutions, powered by Moran. She will lead the integration of 31 members of the Moran team, including 15 dedicated institutional sales advisors, into Berkadia Institutional Solutions, powered by Moran, in partnership with Keith Misner, SVP and Co-Head of Investment Sales.
Prior to joining Berkadia in 2021, Ms. King served as the Co-Chairman of Moran & Company and the partner in charge of Moran & Company’s California offices. Ms. King joined Moran & Company in 1983 when its primary business was representing limited partners in private equity investments in new, to-be-built apartment properties. During that chapter of its history, Ms. King served as its Vice President of Acquisitions and Finance and was responsible for identifying and financing joint venture development opportunities for Moran & Company’s investor clientele. In 1994, Ms. King became licensed as a broker and sold the first property ever listed by Moran & Company’s newly formed brokerage division. In this role, Ms. King was responsible for nearly 45 percent of the $35 billion in apartment transactions handled by Moran & Company.
Ms. King was the Chairman of the National Multi Housing Council (NMHC) from 2006 – 2007 and has served as part of the leadership team for this trade association since January 2000. Ms. King has also been active with Urban Land Institute (ULI), serving as a trustee and in a variety of leadership roles within the organization. She is on the Board of Directors for several public and private companies, including Over the Rainbow, an Illinois not-for-profit that develops independent housing for severely physically disabled adults, and is a licensed broker in the states of California, Washington, Colorado, Massachusetts, Oregon and Georgia.