About

Mr. Cardwell is a Senior Managing Director of Mortgage Banking in the Scottsdale office. He is an experienced buy-side banker focused solely on commercial real estate transactions. His areas of expertise include Acquisition Advisory, GSE Lending (FNMA, FHLMC, HUD), Life Company Lending (32 correspondents), Securitized Lending, Bridge Lending, Preferred Equity Investment, and JV Equity Investment. Mr. Cardwell’s practice focuses largely on regional middle market sponsors with some institutional coverage.

Aaron began his career with Berkadia (including predecessor companies) in 1998.  Since that time, he has been a member of deal teams responsible for over $4 billion of closed transactions. Aaron has personally lead-managed the origination of about $1.9 billion of debt or equity investment. No transaction originated by Aaron has ever resulted in any principal loss or equity impairment. Aaron was awarded our company’s “Rising Star” award in 2007. He was the top production officer on the Chicago team for 2010, 2013, and 2015; and the top production officer in the Scottsdale office for 2017, 2019, 2020, 2021, 2022, and 2023.

Education & Certifications

  • University of Illinois, Urbana Champaign
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Partners

Investment SalesInvestment Sales

Kristin WatsonKristin Watson

Senior Director – OperationsSenior Director – Operations

Ryan Boyle, Investment sales - Senior Director at Berkadia

Investment SalesInvestment Sales

Ryan BoyleRyan Boyle

Senior DirectorSenior Director

Mary-Catherine Frazier, Mortgage Banking - Associate at Berkadia

Strategic CapitalStrategic Capital

Mary-Catherine FrazierMary-Catherine Frazier

Associate Associate

Chris McCook, Mortagage Banking - AVP Originations at Berkadia

Mortgage BankingMortgage Banking

Chris McCookChris McCook

AVP – OriginationsAVP – Originations

Brad Burns, Mortgage Banking - Senior Director at Berkadia

Mortgage BankingMortgage Banking

Brad BurnsBrad Burns

Senior DirectorSenior Director

Scott Modelski, Mortgage Banking - Senior Director at Berkadia

Mortgage BankingMortgage Banking

Scott ModelskiScott Modelski

Senior DirectorSenior Director

Vin Basa, Mortgage Banking - Senior Director at Berkadia

Mortgage BankingMortgage Banking

Vin BasaVin Basa

Senior DirectorSenior Director

John Cunningham, Investment Sales - Senior Managing Director at Berkadia

Investment SalesInvestment Sales

John CunninghamJohn Cunningham

Senior Managing DirectorSenior Managing Director

Charles Steele, Investment Sales - Senior Managing Director at Berkadia

Investment SalesInvestment Sales

Charles SteeleCharles Steele

Senior Managing DirectorSenior Managing Director

Mike Miner, Investment Sales - SVP Head of Investment Sales at Berkadia

Investment SalesInvestment Sales

Mike MinerMike Miner

SVP – Head of Investment SalesSVP – Head of Investment Sales

Kevin Owens, Mortgage Banking - Associate Director at Berkadia

Mortgage BankingMortgage Banking

Kevin OwensKevin Owens

Associate DirectorAssociate Director

Scott Holland, Mortgage Banking - Senior Managing Director at Berkadia

Mortgage BankingMortgage Banking

Scott HollandScott Holland

Senior Managing DirectorSenior Managing Director

Bill Fox, Investment Sales - Managing Director at Berkadia

Investment SalesInvestment Sales

Bill FoxBill Fox

Managing DirectorManaging Director

Aaron Royster - Director of Research, Reports & Publications at Berkadia

Aaron RoysterAaron Royster

Director – Research, Reports & PublicationsDirector – Research, Reports & Publications

Investment SalesInvestment Sales

Mark ForresterMark Forrester

Senior Managing DirectorSenior Managing Director

Robert Gutierrez - Senior Director of National Research at Berkadia

Robert GutierrezRobert Gutierrez

Senior Director, National ResearchSenior Director, National Research

Ric Holway, Investment Sales - Senior Managing Director at Berkadia

Investment SalesInvestment Sales

Ric HolwayRic Holway

Senior Managing DirectorSenior Managing Director

Jeremy Hammill, Mortgage Banking - Vice President Originations at Berkadia

Mortgage BankingMortgage Banking

Jeremy HammillJeremy Hammill

Vice President – OriginationsVice President – Originations

Dan Cheyne, Investment Sales - Managing Director at Berkadia

Investment SalesInvestment Sales

Dan CheyneDan Cheyne

Managing DirectorManaging Director

Jared Glover, Investment Sales - Managing Director at Berkadia

Investment SalesInvestment Sales

Jared GloverJared Glover

Managing DirectorManaging Director

Mortgage BankingMortgage Banking

Edward WilliamsEdward Williams

Managing DirectorManaging Director

Clay Akiwenzie, Mortgage Banking - Managing Director at Berkadia

Mortgage BankingMortgage Banking

Clay AkiwenzieClay Akiwenzie

Managing DirectorManaging Director

Mortgage BankingMortgage Banking

Joseph HellerJoseph Heller

Vice President – OriginationsVice President – Originations

Andrew Curtis, Investment Sales - Managing Director at Berkadia

Investment SalesInvestment Sales

Andrew CurtisAndrew Curtis

Managing DirectorManaging Director

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Berkadia Mid-Year 2026 Multifamily Market Report – Reno

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