The Moinian Group has expanded its of cadre of services with the launch of Moinian Capital Partners, a formal lending division that will provide commercial real estate loans starting at $25 million.
The new lending arm will seek to finance large institutional assets within the hotel, office, retail, land and residential sectors throughout the United States, with an initial focus on the firm’s core markets.
Moinian Capital Partners will provide a full spectrum of debt products from senior mortgages to mezzanine loans, preferred equity, and construction loans.
Moinian has hired respected industry veteran Jonathan Chassin as managing director to lead Moinian Capital Partners.
Most recently, Chassin was an executive with Morgan Stanley’s Principal Transactions Group. Throughout his career he has originated more than $3 billion in commercial real estate loans and been responsible for the execution of over $25 billion of commercial real estate loans in the capital markets.
Moinian Capital Partners has already closed on more than $300 million of financings in Manhattan and the boroughs. The division is in the process of arranging several other loans.
“The Moinian Group has always looked to the next frontier of real estate,” said Joseph Moinian, chief executive officer of The Moinian Group. “Our success and experience over the last 30 years has now led us to Moinian Capital Partners. We have tremendous relationships and standing throughout the market and continue to see the need and opportunity for strong, stable, private lenders. We are perfectly positioned to provide financing.”
“It was imperative that we bring in an elite industry executive to lead Moinian Capital Partners,” said Moinian executive Mitchell Moinian. “Jonathan Chassin has the ideal combination of skills, experience, success, market knowledge, relationships, and leadership to guide and grow our newest division, particularly in the institutional space. We are thrilled to have him join our team.”
”I am excited to start the new lending platform here at the Moinian Group,” Chassin said. “Moinian Capital Partners will bring flexible financing solutions at all levels of the capital structure. The infrastructure and operational capabilities here at the Moinian Group, allow us to move quickly and decisively to provide capital solutions to the most complicated assets.
With more than a decade of experience, Chassin was previously the Head of Capital Markets at UBS Real Estate Securities, Inc., and held executive positions with firms such as Standard & Poor’s, Natixis Real Estate Capital Inc., GreensLedge Capital Markets LLC, and Merrill Lynch.
He has focused on multiple disciplines within the industry including loan origination, loan syndication, capital markets and securitization, performing and nonperforming loan sales, investment grade bond syndication, loan structuring and pricing, warehouse line structuring and management, and underwriting and asset management of commercial real estate debt.
Moinian Capital Partners launches amidst a dynamic period for the developer. Moinian is currently in development of 3 Hudson Boulevard, the developer’s 66-story, two million-square-foot tower in the Hudson Yards District.
Set to occupy the entire square block between 11th Avenue and Hudson Boulevard Park from West 34th Street to West 35th Street, the building designed by the architect Dan Kaplan FAIA, LEED, of FXFOWLE Architects continues to attract interest from major tenants looking to move to the Far West Side as 3 Hudson Boulevard also anchors Hudson Boulevard Park — the ‘Park Avenue’ of the Hudson Yards District.
In addition to breaking ground on the 3 Hudson Boulevard foundation, the Moinian Group recently began construction on its newest residential building, 572 11th Avenue, and opened Sky, its 71-story, 1,175-unit residential tower at 42nd Street and 11th Avenue. The developer is also planning a luxury residential building at 220 11th Avenue designed by architect Zaha Hadid.
Moinian is the largest private land owner on 11th Avenue with more than four million buildable square feet spread across approximately five acres of property.