Irvine, California-based Sperry Commercial Global Affiliates has tapped New Yorkers Sam Suzuki, Barry Regenstein and Scott Bloom to launch a new real estate finance company in the city.
Sperry RE Capital, part of the Sperry family of companies, will arrange equity and debt funding for commercial real estate investors, developers and owners. Suzuki will serve as CEO with Regenstein as president and Bloom, co-founder and principal.
“The launch of Sperry RE Capital is well timed to SperryCGA’s rapid expansion of markets and services that is anchored by a transactional footprint that by 2024 will span 18 countries,” said SperryCGA president Mark Hinkins.
“Incorporating a veteran team of capital markets experts is a savvy move that’s aligned with market demand as well as our integrated strategy of serving as a one-stop resource for clients within our global real estate affiliate platform.”
Suzuki – who serves as co-founder, vice chair and CEO – has been running his own Suzuki Capital for the past decade while pursuing development deals in and around New York. A 35-year veteran of the industry, he started out as a mortgage specialist at Dime Savings Bank and rose through the ranks, joining Citibank’s Japanese Investment division for high net worth individuals and eventually forming Vintage Group as principal/CEO to acquire real estate and develop vacant land into multi-family apartment buildings. He has been responsible for over $300 million in residential condominium projects in New York City including Loft 14, Number 5 and Clement Clarke.
During his career he’s worked with Banker Federal (now JPMorgan Chase), Gotham Bank, Intervest and IDB to acquire $200 million in distressed debt during the Savings and Loans crisis and he collaborated with Lehman Brothers and private investors to purchase $100 million in distressed debt from Korean Banks.
Barry I. Regenstein, co-founder, president and CFO, has held senior executive positions with Command Security Corporation, GlobeGround North America and Hudson General Corporation. He began his career with Coopers & Lybrand in Washington, D.C., has extensive SEC reporting experience, is a Certified Public Accountant and has held board seats in multiple companies.
Bloom, Sperry Capital co-founder and principal, is the founder of Bloom Real Estate Group, a real estate advisory firm and investment company specializing in office leasing and investment sales. He has been in the commercial real estate services business since 1989 and his expertise is in real estate debt workouts, construction, multi-family management, and retail and residential development.
During his time at Newmark and GVA Williams (Colliers), he specialized in tenant and landlord representation for both the acquisition and disposition of commercial space, primarily in New York City. As Managing Director in Newmark, he focused on commercial real estate, where he was in-charge of office leasing buildings for nearly a decade.
Suzuki said the new Sperry RE Capital will offer structuring alternatives to create an optimal capital structure. “Selecting debt, equity and mezzanine capital can be the most critical and difficult component of any real estate transaction and requires seasoned professionals with track records of success,” he noted, adding that his team brings more than 100 years of combined experience.
The capital markets business unit complements SperryCGA’s real estate transactional services and is part of a global expansion strategy being executed this year.
The firm has rapidly expanded since launching the independently owned and operated real estate platform in 2016. That includes the recent launch of a Business Opportunities Sales service line that expanded SperryCGA’s transactional services beyond traditional real estate deals into selling a business or providing advice about its real estate assets.
SperryCGA’s North America affiliate network has grown to encompass nearly 60 offices as of Q2 2021, which gives the firm complete coverage across the U.S.
In 2021, SperryCGA anticipates adding new franchises in more than 20 key markets including several in the Northeast, New York, California, and Texas.
The company recently launched its first international franchised office in Mexico City, and is also developing its global affiliate network in Latin-America, Europe and the Middle East in recently announced partnership with Dubai UAE-based International Real Estate Partners (IREP).