Christopher Haynes has launched Broadacre Financial Corporation, a boutique commercial real estate advisory firm offering mortgage brokerage, advisory services and restructuring assistance.
Haynes is a 20-year veteran of Bank of America/Merrill Lynch and was part of Merrill Lynch’s commercial real estate conduit since its founding in 1994.
He ran the Private Client channel, which sourced commercial mortgage loans through Merrill’s high net worth clients. His clients ranged from small owners to high net worth individuals, private and public REITs and Forbes 400 members.
Haynes was one of only three Merrill Lynch CMBS employees retained by Bank of America after the merger.
However, he said he quickly realized that market dislocation had created a new opportunity for him. “When the market was volatile in 2008 and 2009, a significant number of my banking colleagues changed jobs. I realized that I had this vast network of former co-workers who were now at all the major Wall Street firms, local banks, life companies, private equity firms, servicers, B-piece buyers and hedge funds.
“Meanwhile, my clients were calling me for help with problematic loans, and I found I could connect them with former colleagues in just about any area of the industry. I realized that this was a great opportunity.”
Haynes plans to use his insider expertise to his clients’ advantage. “As a former banking insider, I know all the strategies banks use. I know what deal points are negotiable, where you can save basis points, what fees can be waived, and what concessions can be given. ”