Tower Capital clearly has faith in its retail-focused platform, and has hired three new finance experts to bolster its efforts in that sector.
The firm has tapped Alex Chenarides, Monica Pendergast and Adam Folz, all recently at Slatt Capital, to join its newly formed, retail-focused capital markets group, which focuses on clients in California, Texas and other areas of the Sun Belt. Their roles will be senior vice president, transaction manager and capital adviser, respectively. The three join Tanner Johnson, a vice president at Tower, and executive managing director, and team leader, Geoffrey Harris.
The expansion of the group coincides with the opening of a new Southern California office for Tower, on the 24th and 35th floors of 1801 Century Park East in L.A.’s Century City neighborhood.
The L.A. move follows the opening of Tower’s new office in Dallas earlier this year, as well as an office in Denver in 2022. It was not immediately clear if the entire team will be based in the new L.A. office.
“The expansion into California marks a significant milestone for Tower Capital, and continues to build on our growth in Texas as well as Denver,” Adam Finkel, Tower’s managing partner and co-founder, said in a statement. “In a span of a few months, we have strengthened our team overall with the addition of five respected CRE finance leaders and broadened our reach into key markets in California, Texas and other parts of the country.”
Chenarides, who is based in the new L.A. office, comes to Tower Capital after nearly two decades at Slatt, most recently as senior vice president. He has helped close over $3 billion in loans over his career and will oversee real estate finance assignments for net lease, multi-tenant retail and multifamily assets across California.
Pendergast also brings more than 20 years of experience to Tower, most recently as a disaster loan servicing specialist for the U.S. Small Business Administration, though she also spent nearly 15 years at Slatt’s mortgage arm as a loan closing specialist and will continue in a similar role for Tower.
Folz meanwhile brings about a decade of experience in the industry, most recently as a commercial mortgage banker for Slatt. Stolz specializes in origination and underwriting loans for structured financing on apartment, office, retail and industrial purchases. He also regularly works on long-term financing strategies with high-net-worth individuals.
A spokesperson for Slatt declined to comment on Chenarides, Pendergast and Folz’s departure.
Nick Trombola can be reached at ntrombola@commercialobserver.com.
Robert Khodadadian has long had a simple philosophy about selling real estate. The way he sees it, there are approximately a million buildings in the city, and the broker that gets to sell any one among the multitude that will hit the auctioning block at a given moment is, sometimes, simply the person who happens to pitch their services to the right seller at the right time.
Robert Khodadadian, skyline properties, ground leases, off market, investment sales, Commercial Real Estate, Commercial Observer
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