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Spotlight Content
Posted: December 14, 2010
Kevin Meehan, Atlas Commercial Capital, Inc.
Contact Name : Kevin Meehan
Company Name : Atlas Commercial Capital, Inc.
Email : [email protected]
Phone : 212-332-3457 Ext.101
Fax : 917-595-5372
Address, City, State : 45 Rockefeller Plaza, 20th Floor, New York, NY 10111
What was your greatest professional accomplishment in 2010?
Helping so many strugling borrowers obtain decent financing when they could not get extensions from their current lenders.
What was your most notable project, deal or transaction in 2010?
We closed on a retail center loan with the anchor tenant having one year left and the center was 15% vacant at closing. Despite the issues, we managed to get the borrower a conventional 10-year fixed on a 25-year amortization at a rate below 6.5%. The lender knew that the center was in a great location and that the borrrower was willing to holdbacks until the center was better positioned. To make it even a better deal, the borrower obtained cash-out proceeds at closing.
What predictions do you have for commercial real estate in 2011?
The business will continue to be similar to 2010 except that rates will rise by about 1%.
What are some of your New Year's Resolutions?
To become a bigger player in the commercial real estate financing field by adding several new associates.
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