Welcome to Park Bridge Financial
Park Bridge is a boutique investment bank specializing in commercial real estate finance. We offer several lines of services to institutional lenders, property owners and CMBS trusts:
- Capital raising, including debt and equity placement and brokerage services
- Workouts and debt restructuring
Valuations, portfolio reviews and analysis,
loan underwriting and surveillance,
litigation support and other lender services
- Asset management services, including sales and disposition of loans and REO
Park Bridge has extensive experience raising institutional debt and equity capital customized to suit the needs of our clients. We place fixed-rate loans, floating and adjustable-rate loans, mezzanine loans, preferred equity, joint venture equity, revolving credit facilities, construction loans, permanent loans, bridge loans and acquisition loans.
Park Bridge has extensive loan workout experience that spans several real estate cycles, includes all property types and covers all positions in the capital stack. Our real estate and structured finance expertise enables us accurately and efficiently to guide borrowers through the process. We maintain high-level relationships with many banks and virtually every CMBS master and special servicer. This access assures our clients prompt attention as well as real-time insight into current practices and requirements of loan modifications.
Park Bridge provides a full range of services to portfolio lenders, CMBS issuers, conduit lenders, and b-piece buyers. Our team helps lending clients take transactions from application through closing and disposition. We have conducted loan reviews, operational assessments and loan valuations of performing and non-performing loan portfolios for money-center banks, community banks and life companies. We also have one of the largest operating advisor portfolios, providing surveillance and oversight on behalf of CMBS certificateholders.
Park Bridge provides comprehensive asset management, consulting and surveillance services for portfolios of commercial real estate loans and REO. These services range from servicer oversight to direct restructuring negotiations and managing litigation with borrowers, senior lenders and junior lenders. We have extensive experience working with all types of debt including: first mortgages, CMBS loans, B-notes, mezzanine loans, construction loans and loan participations, and have served in formal roles, including as CMBS Operating Advisor and Subordinate Class Representative, and financial advisory roles for lenders seeking unbiased advice on performing and non-performing loan portfolios.
A Florida-based multifamily owner/operator retained Park Bridge to raise a $45 million credit facility secured by a portfolio of 30 stabilized and yet-to-be repositioned Class C properties. Park Bridge successfully secured from a bank lender a revolving credit facility offering maximum flexibility.
COMM 2013- CCRE 12
Operating Advisor for a fixed-rate transaction
Mezz Foreclosure and REO Sale
A public, non-traded REIT engaged Park Bridge to advise on the workout of a defaulted mezzanine loan in its portfolio. Park Bridge successfully negotiated a friendly foreclosure and solicited multiple bids for the equity. The winning bid recovered nearly 100% of the client’s original investment.
A hotel developer engaged Park Bridge to procure first mortgage financing to acquire and redevelop an existing 65 room hotel. Park Bridge successfully identified, structured and negotiated a deal with maximum proceeds at a competitive interest rate, while providing the borrower with maximum flexibility to complete the construction project and implement its operating plan.
Regional Mall Loan Restructure
Park Bridge successfully negotiated a restructure on a $90 million floating rate loan. The transaction represented a 78% discount to the outstanding loan balance and was done in a tax efficient manner. The client was able to adjust its basis and now has the chance to profitably reposition the property.
Park Bridge Principals
Eli J. Hattem
Office: (212) 230-9093
Mobile: (917) 991-7093
John J. Regan, Jr.
Office: (212) 230-9024
Mobile: (914) 330-6174
David M. Rodgers
Office: (212) 230-9093
Mobile: (917) 991-7093
Eli Hattem began his commercial real estate finance career in 1989. Over the last 24 years he has developed expertise in starting and running real estate lending platforms, including the direct oversight of loan production, underwriting, closing, staffing, training, credit decisions and workouts. His practice areas at Park Bridge include: mortgage brokerage, loan restructuring, expert testimony, contract underwriting, lending operations and securitization consulting and loan portfolio valuations.
Mr. Hattem previously held commercial real estate finance positions at Donaldson, Lufkin & Jenrette, CIBC World Markets, Kenneth Leventhal and Chase Manhattan Bank. Prior to the formation of Park Bridge, Mr. Hattem served for nine years as Chief Operating Officer and Senior Underwriter at Merrill Lynch Mortgage Lending, where he oversaw underwriting and closing for the conduit loan group (loans up to $100 million) and held a voting position on credit committee. Mr. Hattem also worked on Merrill’s syndicate desk structuring and selling B-notes, mezzanine interests and whole-loan positions. Prior to joining Merrill, Mr. Hattem managed similar functions at CIBC. During his career, Mr. Hattem oversaw the production of over 2,100 loans totaling approximately $25 billion. Mr. Hattem has also designed and implemented sophisticated IT platforms to support lending operations.
Mr. Hattem holds a B.S. from Columbia University School of Engineering and Applied Science and an M.B.A. from New York University. He currently holds the Series 7, 24 and 63 securities licenses and is a licensed real estate broker in the State of New York.
Office: (212) 230-9024
Mobile: (914) 330-6174
John Regan began his career at Chase Manhattan Bank, completing the corporate finance training program, and has worked for 26 years in the real estate finance sector. His practice areas at Park Bridge include raising debt and equity, loan restructuring, expert testimony and loan syndications.
At various times in his career, Mr. Regan has held positions in capital markets, loan origination, construction lending and debt restructuring. Mr. Regan was a Managing Director in JP Morgan’s Securities, Syndication and Leverage Finance businesses. At JP Morgan, he oversaw the origination and structuring of loan and high yield debt for the company’s corporate real estate clients, including REITs, homebuilders and opportunity funds. Prior to the formation of Park Bridge, Mr. Regan was a Managing Director in Merrill Lynch’s Global Commercial Real Estate group where he was responsible for the syndication and distribution of primary CMBS and loan positions.
Mr. Regan received a B.S. in Finance from Providence College and holds Series 7, 24, 63, and 79 securities licenses.
Office: (212) 230-9025
Mobile: (917) 414-8064
David Rodgers is a 27-year veteran of the private and public commercial real estate finance markets. His practice areas at Park Bridge include: trust advisory services, asset management, private equity raises, loan restructuring, loan portfolio reviews and contract underwriting.
Prior to the formation of Park Bridge, Mr. Rodgers led securitization groups at Prudential Securities and later at Merrill Lynch & Co., converting over $70 billion of commercial mortgages to CMBS. While at Merrill Lynch he was also responsible for loan approvals, subordinate bond placement in the U.S. and Canada, and provided CRE debt advisory and M&A valuation services to commercial bank clients. While at Prudential Securities, Mr. Rodgers advised four commercial mortgage loan conduits in various aspects of loan originations, securitizations and rating agency relations and was responsible for credit review and approval of over 600 conduit loans funded under PSI’s warehouse lines.
Before joining Prudential Securities, Mr. Rodgers was a co-portfolio manager of two CMBS investment funds at Jones Lang Wootton Realty Advisors (now Torchlight). Mr. Rodgers authored the firm’s special servicing policies and procedures and led its successful effort to become a rated CMBS special servicer. Mr. Rodgers also has eight years commercial mortgage lending & workout experience at Prudential Insurance. From 1988 to 1996, Mr. Rodgers originated new loans as well as managed workouts, foreclosures and bankruptcies, and was the asset manager for a 1.1 million square foot commercial property portfolio.
Mr. Rodgers holds a B.A. in economics from the University of Rochester, an M.B.A. from Cornell University and Series 7, 24, 63, 79 and 99 securities licenses.
Office: (212) 230-9075
Mobile: (917) 885-0798
Bob Spinna is one of the four founding principals of Park Bridge Financial and a 24-year commercial real estate finance professional. Mr. Spinna focuses on investing Park Bridge’s proprietary debt capital. He also specializes in real estate investment banking, including debt and equity placement and other capital raising activities, as well as strategic consulting services, loan sale advisory and asset management.
Prior to forming Park Bridge, Mr. Spinna was Chief Operating Officer of Merrill Lynch’s Global Commercial Real Estate Large Loan Group where he was responsible for overseeing the negotiation, structuring, closing and distribution of large and complex real estate financings totaling over $29 billion. Before joining Merrill Lynch, Mr. Spinna was a commercial real estate banker and attorney at New York Life Investment Management and Nomura Securities, where he focused on structuring and closing complex multi-tranched loans. Before joining Nomura in 1996, Mr. Spinna was a real estate finance attorney with the law firm of Cadwalader, Wickersham & Taft.
Mr. Spinna earned a B.S. (summa cum laude) from Manhattan College and a J.D. from the Columbia University School of Law, where he served as Senior Notes Editor of The Columbia Business Law Review. Mr. Spinna is a member of the bar and a licensed real estate broker in the State of New York. He also holds Series 7, 63 and 24 securities licenses.
Office: (212) 230-9062
Mobile: (617) 413-8761
Sean Lucy began his career in commercial real estate as an investment analyst in 2003. Initially focused on property acquisition and management, Mr. Lucy transitioned to focus on commercial real estate finance in 2005. Since then, he has been involved in the underwriting, closing and securitizing of over $4 billion in commercial real estate debt. Prior to joining Park Bridge, Mr. Lucy was an Associate in the Merrill Lynch Global Commercial Real Estate group where he was responsible for underwriting, due diligence, closing and disposition of commercial real estate loans.
Mr. Lucy received a B.A. from Stanford University, an M.S. from the Georgia Institute of Technology, and an M.B.A. from the MIT Sloan School of Management. He holds Series 7 and 63 securities licenses.
Office: (212) 230-9088
Mobile: (917) 741-5233
Benjamin Wang began his career at Chase Manhattan Bank’s commercial real estate finance group focusing on conduit loan originations and property due diligence. From 2001 to 2006, Mr. Wang worked in Merrill Lynch Mortgage Lending’s large loan group, where he was actively involved in originating, structuring, underwriting, closing and the securitization of more than $10 billion in commercial real estate financings. Prior to joining Park Bridge, Mr. Wang was a Vice President at American Capital Strategies, a publicly-traded private equity firm and a major investor in the subordinated tranches of CMBS debt. At ACAS he completed over $400 million in debt origination, acquisition and equity co-investment transactions.
Mr. Wang holds a B.S. in Finance and International Business from New York University and successfully completed Chase Manhattan Bank’s Credit Training Program.
Office: (212) 230-9069
Mobile: (973) 271-6105
Kyle Raffo is a Vice President at Park Bridge Financial LLC. Mr. Raffo’s practice areas include: new business development, asset underwriting and valuation and project marketing.
Mr. Raffo began his career in 2005 as a commercial real estate broker at The Garibaldi Group focusing on national and international corporate office leasing. While at The Garibaldi Group, Mr. Raffo focused on office and industrial leasing, as well as commercial asset purchases and sales. In 2012, prior to joining Park Bridge, Mr. Raffo supported the credit department at PB Capital in the management of its existing loan portfolio and performing credit risk evaluations of loans ranging from $20 - $100 million.
Mr. Raffo holds a B.A. in Political Science from Villanova University and an M.S. in Real Estate Finance from New York University.
Bradley Weiss is a 30-year veteran of banking, real estate finance and investment management. Mr. Weiss is the head of Park Bridge Florida, where he focuses on real estate investment banking, financial institution advisory, debt restructuring, asset management services and Park Bridge’s principal investing activities.
Before Park Bridge, Mr. Weiss owned and operated several companies and investment funds, including mortgage lending, real estate service and asset management firms. Mr. Weiss and his companies have acquired, originated, underwritten, serviced and managed loan and CRE assets of over $3 billion.
Mr. Weiss was also the co-founder and managing principal of CSW Associates, a national provider of real estate, mortgage, asset management and advisory services specializing in non-performing loans and real estate. When he sold the company, it had grown to over 200 employees in seven regional offices and was one of the largest asset managers to the RTC, FDIC and institutional investors.
Mr. Weiss brings to Park Bridge significant institutional client experience with banks, government agencies, opportunity funds and bankruptcy trustees. His experience includes a broad range of asset classes and he has played key roles in the valuation, structuring, acquisition, disposition and capitalization of banks and bank assets on behalf of both government agencies and investor groups. Mr. Weiss served on the Board of Directors of BankUnited, a publicly held, Florida-based bank, where he also chaired the bank’s real estate advisory committee and served on the audit and corporate governance committees.
Mr. Weiss is a CPA (formerly with Arthur Andersen & Co) and holds a B.S.B.A. in Finance from the University of Florida.
Adam Toft joined Park Bridge Financial upon relocating back to the United States after 15 years in London. Mr. Toft is located in our Florida office and focuses on real estate investment banking and advisory services.
Prior to joining Park Bridge, Mr. Toft provided financing and advisory services in London and Europe, through a consulting and advisory practice he formed in 2008. His activities in Europe mirrored those undertaken at Park Bridge Financial. Previously, Mr. Toft was department head of European CRE debt capital markets for Bear, Stearns. In that capacity, he was responsible for underwriting, pricing, risk management and distribution of all securitization and syndication efforts of the group where total production, including origination and acquisition, exceeded $3 billion. During Mr. Toft’s tenure, two securitizations were executed, including the first multi-seller conduit in Europe, and two others were in production prior to the financial crisis.
Mr. Toft relocated to Europe with Moody’s Investors Service, where he had worked in New York since 1997. While working with Moody’s, Mr. Toft played a key leadership role with responsibility for the daily operations of the EMEA CMBS team as well as serving as a member of the credit committee. Mr. Toft worked on several ground-breaking securitizations in both Europe and the United States with total bond issuances exceeding $30 billion. Before joining Moody’s, Mr. Toft practiced law as a real estate finance attorney with the law firms of Skadden, Arps, Slate, Meagher & Flom and Schulte Roth & Zabel.
Mr. Toft earned a B.A. in Economics from the University of Michigan and both a J.D. and M.B.A. (in finance and accounting) from Columbia University. Mr. Toft is a member of the bar in the State of New York.