Ariel Property Advisors has announced the launch of a new Capital Services business line.
Ariel Property Advisors: Capital Services will work with the firm’s current investment sales and research professionals to structure financing for commercial real estate properties throughout the New York area.
The division will focus on multifamily, commercial, retail, development, mixed-use and industrial properties.
To lead expansion, Ariel hired Paul McCormick, a 10-year veteran of the commercial mortgage industry, to serve as the firm’s vice president of Capital Services.
Previously, McCormick was the assistant vice president of sales at Arbor Commercial Mortgage. There, he supported a 25 person sales division that originated over $5 billion in loans across the company’s multifamily and commercial product lines.
“Our new Capital Services division will empower our professionals to provide owners and investors with holistic real estate solutions,” said Shimon Shkury, president of Ariel Property Advisors.
“We look forward to working with Paul to build a first-class financing operation that enhances our existing capabilities.”
“A nuanced understanding of the financial markets is essential to helping clients achieve their objectives,” added McCormick.
“I am very excited to leverage the firm’s powerful research and investment sales platform in a way that enhances the company’s reputation as a trusted resource.”