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Fireside Chat with Lauro Ferroni, Head of Americas Capital Markets Research at JLL
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Atsi Sheth is Managing Director and Global Head, Credit Strategy and Research.
Moody’s Credit Strategy & Research group includes global teams focused on Macroeconomic Research, Default & Ratings Analytics and Global Emerging Markets as well as regional credit strategy teams each focused on Asia-Pacific, the Americas, and EMEA.
Together these teams establish and articulate Moody’s house views on the trends that drive risk across countries, sectors and asset classes. They undertake in depth data driven analysis and leverage the expertise of ratings and research analysts across Moody’s to generate global, regional and sector insights on macro-economic, political, policy, technology and environmental, social and governance (ESG) risks.
In her capacity leading the group, Atsi also serves as a spokesperson on Moody’s analytic views, engaging with investors, the media and a wide range of public and private sector stakeholders.
Atsi is a long-time champion of Moody’s Diversity, Equity & Inclusion (DE&I) as well as our Corporate Social Responsibility (CSR) initiatives. She serves as co-chair of the CSR Thought Leadership & Solutions working group and the Senior Advisor to Moody’s Asian Leadership Initiative - a Multicultural Business Resource Group.
Prior to her current role, Atsi was Moody’s Chief Credit Officer for the Americas and before that Managing Director in Moody’s Sovereign Risk Group. She has also served as Chief Economist at Reliance Capital and taught courses on International Political Economy and Emerging Markets at Columbia University and Northwestern University. Atsi has a PhD from Northwestern University and a B.A. from Bombay University.
Darrell Wheeler manages CMBS and CRE CLO research for Moody’s Ratings. He is renowned for developing mortgage-backed securities analysis and models that provide unique fundamental credit insights.
His structured finance experience is extensive, previously managing the structured finance research of S&P Global Ratings, Citigroup Global Markets and Cantor Fitzgerald. He is a past member of CREFC’s Board of Governors and currently participates in CREFC’s editorial board. He has contributed research to numerous publications, including CREFC’s E-primer.
Marshall Glick is a Senior Vice President and head of the commercial real estate investment team within AllianceBernstein’s Securitized Asset Management Group, He oversees investments in both public and private commercial mortgage-backed securities (CMBSs), as well as real estate investment trusts (REITs). He first worked at the firm from 1996 to 2002. From 2002 to 2009, Glick was a managing director and senior credit officer at Fortress Investment Group, where he sourced, underwrote and managed the assets in a multibillion-dollar investment portfolio that included credit-sensitive CMBSs, B-notes, mezzanine debt and whole loans, along with REIT debt and leveraged bank loans. He previously served as vice president, Structured Products, at Alliance Capital Management, where he focused on primary and secondary offerings of CMBSs and covered the REIT debt sector.
Prior to joining Alliance, he was associate director in the Structured Finance Ratings division at Standard & Poor’s Rating Services.
Mr. Harrison is the Chief Operating Officer at Midland Loan Services, a PNC Real Estate business, where he leads strategy and operations to enhance service delivery and operational efficiency. David brings an innovative approach to process improvement and technology integration. Based in Overland Park, Kansas, he serves on the firm’s executive management team and is a member of the senior leadership group. His background in commercial real estate includes capital markets, asset management, underwriting, workouts, business development and client relations.
David is an active member of the MBA and CREFC and holds committee leadership positions in both organizations. He is a prior member of CREFC’s Board of Governors and Executive Committee. Before joining PNC Real Estate, David held positions at Fitch Ratings, Key Bank, and the Archon Group. He received a BS in Political Science and a Minor in Economics from the University of Houston in 1997.
Jonathan Mechanic is chairman of Fried Frank’s Real Estate Department and a member of the firm’s Governance Committee. Prior to joining Fried Frank as a partner, he was general counsel and a managing director of HRO International, a real estate development organization responsible for developing more than 2.5 million square feet of office space in Manhattan.
Jon routinely counsels developers, owners, investors, REITs, and lenders in all aspects of commercial real estate transactions. Notably, he represents JP Morgan in connection with its redevelopment of 270 Park Avenue into a new 2.5 million-square-foot headquarters building and Citadel on its master leases of 350 Park Avenue and 40 East 52nd Street as well as on the joint venture with Vornado and Rudin Management to develop a new 1.7 million-square-foot headquarters building on the 350 Park/40 East 52nd Street site where they will lease approximately 850,000 square feet with contraction and expansion rights. Jon has led joint ventures for Park Tower with Brookfield and with Rockefeller Center Development Group on the five multifamily projects that have been constructed or, in the case of Rockefeller Center Development Group, are being constructed in the Greenpoint section of Brooklyn. He represented CW Capital Asset Management in its sale of Stuyvesant Town-Peter Cooper Village to Blackstone Group and Ivanhoé Cambridge. Jon also represents landlords and tenants in commercial leasing and ground lease transactions, including his recent representations of MCR Hotels in its ground lease of the legendary Gramercy Park Hotel; Citigroup in its long-term lease of its global headquarters at 388-390 Greenwich Street and the exercise of its option to purchase the building; Coach in the sale-leaseback of its global headquarters at 10 Hudson Yards; Ernst & Young in its more than 600,000-square-foot lease for its new headquarters at One Manhattan West; Shiseido in its 225,000-square-foot lease at 390 Madison Avenue for its US headquarters; and JP Morgan in its 437,000-square-foot-lease at 390 Madison Avenue.
Jon has taught the real estate transactions course at Harvard Law School for more than ten years. He also lectures regularly for NYU Law School, the Real Estate Board of New York and the Practising Law Institute, and is a co-author of The Commercial Office Lease Handbook published by the American Bar Association.
Jon was recently awarded the 2023 New York Law Journal Lifetime Achievement Award and profiled for his outstanding contributions by the Financial Times. He was awarded the 2016 Distinguished Alumnus Award from New York University and the 2016 Chambers USA Outstanding Contribution to the Legal Profession Award. For a decade, Jon has been recognized by Chambers USA as a “Star Individual” in real estate. He is consistently included on Commercial Observer’s “Power 100” list of the most powerful people in New York real estate and was the only practicing attorney to make the list in 2015, 2016, 2017, and 2018. In 2019, Jon was joined by land use partner Melanie Meyers as the only two practicing attorneys on the list and in 2020 he was one of three practicing attorneys recognized. In 2021 and 2022, Jon was recognized by City & State New York in its “Real Estate Power 100” list and its "Law Power 100" list. In addition, he was named “MVP Lawyer of the Year” by Law360 in 2019, 2013, and 2011. Fried Frank’s Real Estate Department has been recognized as Law360’s Real Estate Group of the Year and was recognized by Chambers USA as the 2019 Real Estate Law Firm of the Year and was awarded the 2018 Real Estate Client Service Award and the 2009 Award for Excellence in Real Estate.
Jon is a member of the Executive Committee, Board of Governors for the Real Estate Board of New York and the Board of Trustees of NYU Law School. He is also Chairman of the Advisory Board of the NYU Furman Center for Real Estate and Urban Policy, a member of the Advisory Board of the NYU Schack Institute of Real Estate, a member of the Industrial Advisory Board for the Columbia University Center for Urban Real Estate, and a member of the American College of Real Estate Lawyers.
Jon received his JD from New York University School of Law in 1977, where he served as an editor of the Law Review and was elected to the Order of the Coif, and his BA, magna cum laude, from Brandeis University in 1974.
He is admitted to practice in New York.
Adam R. Schwartz is the Managing Partner of TPG Angelo Gordon. He is the global head of the platform’s real estate group. Since joining TPG Angelo Gordon in 2000, Adam has been directly responsible for, or overseen, over $32 billion of real estate assets. He has significant experience in the acquisition and repositioning of all property types. Prior to joining TPG Angelo Gordon, Adam worked in the acquisitions group at Vornado Realty Trust, a public real estate investment trust. Adam is a member of the executive committee of the Zell-Lurie Real Estate Center at The Wharton School and is a trustee of the Urban Land Institute. He is on the board of directors of SparkYouth NYC (formerly The Catalog for Giving) and the Damon Runyon Cancer Research Foundation, and also sits on the board of directors for the Pension Real Estate Association.
Adam has a B.A. degree from the University of Pennsylvania.
Joe Baksic manages new issuance for the Commercial Real Estate Finance (CREF) team at Moody’s Investors Service, where he holds the title of Associate Managing Director. His responsibilities encompass all private-label and agency Commercial Mortgage-Backed Securities (CMBS) issuance within the United States and Canada.
Joe has over 20 years of professional experience within the industry and has overseen the analysis of CRE issuance across the Conduit, Large Loan/Single Asset Single-Borrower, CLO/CDO, and Non-Performing Loan sectors. He has developed multiple rating methodologies, models, and analytical tools. He has contributed toward research initiatives and authored several publications. He frequently engages with the media to communicate credit views and developments within the sector. Baksic also regularly liaises in the analysis and ratings of other lines of business within Moody’s as a commercial real estate and structured products specialist.
Joe holds a Bachelor of Science degree in Electrical Engineering from the University of Virginia.
Robb holds the position of Associate Managing Director at Moody's Investors Service, where he has been part of the Commercial Mortgage-Backed Securities (CMBS) New Issuance group since 2006. With a career spanning over 25 years in commercial real estate Robb has developed a deep understanding in commercial real estate, credit analysis, and ratings theory.
In his current position, he co-leads the CMBS New Issuance team, where he has a particular focus on the retail and large loan sectors. This role has allowed him to leverage his knowledge in commercial real estate and structured finance.
Before his tenure at Moody's Investors Service, Robb worked at PricewaterhouseCoopers within the Real Estate Advisory Services Group. Additionally, he also was part of the Real Estate and Lodging Investment Banking Group at JP Morgan.
Robb's gained a Bachelor of Science degree from Cornell University, and a Master's degree in Real Estate Finance from New York University.
Dave Bush heads the Underwriting function within Deutsche Bank’s Commercial Real Estate platform with a primary focus in the US. He covers all asset classes and loan types including Large Loan, Conduit and Balance Sheet originations. He is responsible for multifamily and commercial loan sizing, rating agency analysis, cash flow modeling, structuring, closing due diligence and capital markets distribution.
Dave has over 18 years of professional experience within the CMBS industry and oversees multiple aspects of the loan and portfolio level origination, underwriting and securitization processes. His responsibilities also include portfolio and asset management, debt syndication, loan modifications and restructuring, as well as developing and executing loan and property disposition strategies.
David has a BS in Applied Economics from Cornell University.
Scott is head of the Credit, Underwriting and Securitization teams within the Real Estate Finance Group, which is responsible for the underwriting, sizing and execution of new issue commercial mortgage-backed securities (CMBS). He joined Goldman Sachs as an associate on the CMBS team in 2013 and was named managing director in 2019. Prior to joining the firm, Scott worked at Moody's Investors Service for eight years in the new issue CMBS Group.
Scott earned a dual BA in Business Economics and Public and Private Sector Organizations from Brown University in 2005.
Mr. Hayden is a Managing Director and Portfolio Manager for CMBS and structured CRE debt and a member of the Mortgage Loan Credit Committee at New York Life Real Estate Investors. Prior to joining NYL REI, Mr. Hayden was a Vice President of new issue CMBS and CRE CDO ratings at Moody’s Investors Service. Before Moody’s, he held positions in the MBS and CRE groups at Greenwich Capital Markets and began his career in fixed income sales at Lehman Brothers. He holds a CFA (Chartered Financial Analyst) designation and a B.S. in Business Administration with a concentration in Finance from University of Massachusetts at Lowell.
Meena Pursnani, Director, heads CMBS credit within structured products for MetLife Investment Management (MIM) Public Fixed Income.
Meena has been with MIM since 2014 and she is responsible for managing the CMBS portfolio including underwriting of new investments and surveillance of the existing portfolio. Prior to joining MIM, for five years Meena was a research analyst/portfolio manager at Capital Research and Management Company (American Funds) where her responsibilities included CMBS and European Covered Bonds. From 2002 to 2007, she was with Deutsche Bank Asset Management where she was a Managing Director/Head of Structured Research and senior CMBS analyst. From 1997 to 2002 she was a Vice President/Senior Analyst in the CMBS group at Moody’s Investors Service. Prior to joining Moody’s Meena also held roles as a Loan Originator and Loan Workout Specialist in the Commercial Real Estate divisions of UBS and BNY Mellon. Meena has over 30 years of industry experience.
Meena earned a B.A. in Biochemistry from Rutgers University and an MBA from Carnegie Mellon University’s Tepper School of Business.
Darrell Wheeler manages CMBS and CRE CLO research for Moody’s Ratings. He is renowned for developing mortgage-backed securities analysis and models that provide unique fundamental credit insights.
His structured finance experience is extensive, previously managing the structured finance research of S&P Global Ratings, Citigroup Global Markets and Cantor Fitzgerald. He is a past member of CREFC’s Board of Governors and currently participates in CREFC’s editorial board. He has contributed research to numerous publications, including CREFC’s E-primer.
Dante DeAntonio is a senior director at Moody’s Analytics. He manages and regularly contributes to Economic View. Dante specializes in U.S. macroeconomics, with a focus on the labor market and regional economics. Dante regularly presents to clients and conferences, and has been featured in a number of media outlets. Before joining Moody’s Analytics, he worked as an economist in the Current Employment Statistics program at the Bureau of Labor Statistics. Dante is also an adjunct professor in the Economics and Finance Department at West Chester University of Pennsylvania. Previously, he was an adjunct in the Economics Department at Lehigh University. He holds a master’s degree and PhD in economics from Lehigh University and a bachelor’s degree in economics from Pennsylvania State University.
Matthew Halpern is an Associate Managing Director within the Structured Finance Group at Moody’s Investors Service. He is a team leader within the CMBS Surveillance group focusing on U.S. Conduit/Fusion and Large Loan/Single Borrower transactions. In addition, Matthew is involved in managing the surveillance review of credit assessments for commercial real estate assets within CRE CDO’s and CLO’s as well as Structured Credit transactions. Matthew also has experience rating new CMBS and CRE CDO transactions, and is a contributor to various commercial real estate research initiatives. Prior to joining Moody’s, Matthew worked in the Structured Finance group at Ernst &Young. Matthew graduated from the School of Hotel Administration at Cornell University with a Bachelor of Science.
Deryk Meherik joined Moody’s Structured Finance Group in 2003 and is currently an Associate Managing Director within the CMBS & CRE CDO Surveillance team. He also oversees the review of primary US CRE CDO/CLO transactions. In addition, he contributes to CRE
CDO/CLO research.
Deryk has authored or co-authored three global rating methodologies including SF CDOs, SF resecuritizations, and SF interest-only securities. Prior to being appointed to his current position, he was a lead analyst within the CMBS & CRE CDO primary team, where he rated various fixed and floating rate CMBS and CRE CDOs transactions. Additionally, Deryk has rated primary Structured Credit transactions. Prior to joining Moody’s, Deryk was a CRE acquisition and research analyst for a private New York based real estate firm. Deryk holds a dual M.S. in civil engineering and real estate development from the Massachusetts Institute of Technology, and a B.A. from the University of Calgary.
EJ is a Vice President/ Senior Credit Officer for Moody’s Investors Service. She has been with the Commercial Mortgage Backed Securities group since 1998, and has rated transactions in the US and in Japan. She currently oversees the Large Loan/Single Asset Single Borrower segment of CMBS Surveillance. EJ was with Arthur Andersen Hospitality Consulting Group in New York City prior to joining Moody’s, and she also has international hotel operation experience.
EJ has a BA from Ewha Womans University, and a Master of Management in Hospitality from the Hotel School, Cornell University.
Keith Banhazl is a Managing Director and Head of Commercial Real Estate Finance for Americas within the Structured Finance Group and leads the team responsible for CMBS & CRE CLO new ratings and surveillance at Moody’s Investors Service. The team is responsible for reviewing Conduit/Fusion, Large Loan/Single Borrower, Agency CMBS, Credit Tenant Lease, Small Balance Commercial, CRE CLO, CRE CDO and other structured products at Moody’s Investors Service. He is also Moody’s Global Structured Finance Outreach Coordinator. He has been involved in various research initiatives and outreach activities related to the CRE securitization space, publishing and speaking on Moody’s behalf. Prior to being appointed to his current position, Mr. Banhazl was a Managing Director within the Structured Finance Group leading the US CMBS and CRE CLO/CDO Surveillance team and the review of primary US CRE CLO/CDO transactions, including the credit assessment team for commercial real estate assets within CRE CDO’s and CLO’s as well as Structured Credit transactions. Previously at Moody’s, he rated various fixed and floating-rate Conduit/Fusion and Large Loan CMBS transactions. Mr. Banhazl has a Bachelor of Arts degree from Brown University in Economics and History
Based in Chicago, Lauro Ferroni is the Head of Capital Markets Research for the Americas. His responsibilities include leading JLL’s capital markets research team and strategy for the Americas, and tracking real estate transactions, global capital flows and investment yields.
Key responsibilities of the team include developing frameworks and analytics to inform clients’ investment strategies, positioning the firm as a thought leader, and executing custom advisory assignments for the firm’s top investor clients. The capital markets research team’s purview spans direct and indirect equity and debt investment trends across office, industrial, multi-housing, retail, hotel and alternatives sectors.
Mr. Ferroni joined JLL in 2007 and has led numerous research initiatives and advisory mandates related to real estate investment performance trends and investors’ portfolio allocation strategies. As part of the research team, Mr. Ferroni has been quoted in The Wall Street Journal, Forbes, The New York Times, Reuters and Bloomberg.
Mr. Ferroni holds a Bachelor of Science degree from Cornell University.
Joe Baksic manages new issuance for the Commercial Real Estate Finance (CREF) team at Moody’s Investors Service, where he holds the title of Associate Managing Director. His responsibilities encompass all private-label and agency Commercial Mortgage-Backed Securities (CMBS) issuance within the United States and Canada.
Joe has over 20 years of professional experience within the industry and has overseen the analysis of CRE issuance across the Conduit, Large Loan/Single Asset Single-Borrower, CLO/CDO, and Non-Performing Loan sectors. He has developed multiple rating methodologies, models, and analytical tools. He has contributed toward research initiatives and authored several publications. He frequently engages with the media to communicate credit views and developments within the sector. Baksic also regularly liaises in the analysis and ratings of other lines of business within Moody’s as a commercial real estate and structured products specialist.
Joe holds a Bachelor of Science degree in Electrical Engineering from the University of Virginia.
Keith Banhazl is a Managing Director and Head of Commercial Real Estate Finance for Americas within the Structured Finance Group and leads the team responsible for CMBS & CRE CLO new ratings and surveillance at Moody’s Investors Service. The team is responsible for reviewing Conduit/Fusion, Large Loan/Single Borrower, Agency CMBS, Credit Tenant Lease, Small Balance Commercial, CRE CLO, CRE CDO and other structured products at Moody’s Investors Service. He is also Moody’s Global Structured Finance Outreach Coordinator. He has been involved in various research initiatives and outreach activities related to the CRE securitization space, publishing and speaking on Moody’s behalf. Prior to being appointed to his current position, Mr. Banhazl was a Managing Director within the Structured Finance Group leading the US CMBS and CRE CLO/CDO Surveillance team and the review of primary US CRE CLO/CDO transactions, including the credit assessment team for commercial real estate assets within CRE CDO’s and CLO’s as well as Structured Credit transactions. Previously at Moody’s, he rated various fixed and floating-rate Conduit/Fusion and Large Loan CMBS transactions. Mr. Banhazl has a Bachelor of Arts degree from Brown University in Economics and History
Dave Bush heads the Underwriting function within Deutsche Bank’s Commercial Real Estate platform with a primary focus in the US. He covers all asset classes and loan types including Large Loan, Conduit and Balance Sheet originations. He is responsible for multifamily and commercial loan sizing, rating agency analysis, cash flow modeling, structuring, closing due diligence and capital markets distribution.
Dave has over 18 years of professional experience within the CMBS industry and oversees multiple aspects of the loan and portfolio level origination, underwriting and securitization processes. His responsibilities also include portfolio and asset management, debt syndication, loan modifications and restructuring, as well as developing and executing loan and property disposition strategies.
David has a BS in Applied Economics from Cornell University.
Dante DeAntonio is a senior director at Moody’s Analytics. He manages and regularly contributes to Economic View. Dante specializes in U.S. macroeconomics, with a focus on the labor market and regional economics. Dante regularly presents to clients and conferences, and has been featured in a number of media outlets. Before joining Moody’s Analytics, he worked as an economist in the Current Employment Statistics program at the Bureau of Labor Statistics. Dante is also an adjunct professor in the Economics and Finance Department at West Chester University of Pennsylvania. Previously, he was an adjunct in the Economics Department at Lehigh University. He holds a master’s degree and PhD in economics from Lehigh University and a bachelor’s degree in economics from Pennsylvania State University.
Scott is head of the Credit, Underwriting and Securitization teams within the Real Estate Finance Group, which is responsible for the underwriting, sizing and execution of new issue commercial mortgage-backed securities (CMBS). He joined Goldman Sachs as an associate on the CMBS team in 2013 and was named managing director in 2019. Prior to joining the firm, Scott worked at Moody's Investors Service for eight years in the new issue CMBS Group.
Scott earned a dual BA in Business Economics and Public and Private Sector Organizations from Brown University in 2005.
Based in Chicago, Lauro Ferroni is the Head of Capital Markets Research for the Americas. His responsibilities include leading JLL’s capital markets research team and strategy for the Americas, and tracking real estate transactions, global capital flows and investment yields.
Key responsibilities of the team include developing frameworks and analytics to inform clients’ investment strategies, positioning the firm as a thought leader, and executing custom advisory assignments for the firm’s top investor clients. The capital markets research team’s purview spans direct and indirect equity and debt investment trends across office, industrial, multi-housing, retail, hotel and alternatives sectors.
Mr. Ferroni joined JLL in 2007 and has led numerous research initiatives and advisory mandates related to real estate investment performance trends and investors’ portfolio allocation strategies. As part of the research team, Mr. Ferroni has been quoted in The Wall Street Journal, Forbes, The New York Times, Reuters and Bloomberg.
Mr. Ferroni holds a Bachelor of Science degree from Cornell University.
Marshall Glick is a Senior Vice President and head of the commercial real estate investment team within AllianceBernstein’s Securitized Asset Management Group, He oversees investments in both public and private commercial mortgage-backed securities (CMBSs), as well as real estate investment trusts (REITs). He first worked at the firm from 1996 to 2002. From 2002 to 2009, Glick was a managing director and senior credit officer at Fortress Investment Group, where he sourced, underwrote and managed the assets in a multibillion-dollar investment portfolio that included credit-sensitive CMBSs, B-notes, mezzanine debt and whole loans, along with REIT debt and leveraged bank loans. He previously served as vice president, Structured Products, at Alliance Capital Management, where he focused on primary and secondary offerings of CMBSs and covered the REIT debt sector.
Prior to joining Alliance, he was associate director in the Structured Finance Ratings division at Standard & Poor’s Rating Services.
Matthew Halpern is an Associate Managing Director within the Structured Finance Group at Moody’s Investors Service. He is a team leader within the CMBS Surveillance group focusing on U.S. Conduit/Fusion and Large Loan/Single Borrower transactions. In addition, Matthew is involved in managing the surveillance review of credit assessments for commercial real estate assets within CRE CDO’s and CLO’s as well as Structured Credit transactions. Matthew also has experience rating new CMBS and CRE CDO transactions, and is a contributor to various commercial real estate research initiatives. Prior to joining Moody’s, Matthew worked in the Structured Finance group at Ernst &Young. Matthew graduated from the School of Hotel Administration at Cornell University with a Bachelor of Science.
Mr. Harrison is the Chief Operating Officer at Midland Loan Services, a PNC Real Estate business, where he leads strategy and operations to enhance service delivery and operational efficiency. David brings an innovative approach to process improvement and technology integration. Based in Overland Park, Kansas, he serves on the firm’s executive management team and is a member of the senior leadership group. His background in commercial real estate includes capital markets, asset management, underwriting, workouts, business development and client relations.
David is an active member of the MBA and CREFC and holds committee leadership positions in both organizations. He is a prior member of CREFC’s Board of Governors and Executive Committee. Before joining PNC Real Estate, David held positions at Fitch Ratings, Key Bank, and the Archon Group. He received a BS in Political Science and a Minor in Economics from the University of Houston in 1997.
Mr. Hayden is a Managing Director and Portfolio Manager for CMBS and structured CRE debt and a member of the Mortgage Loan Credit Committee at New York Life Real Estate Investors. Prior to joining NYL REI, Mr. Hayden was a Vice President of new issue CMBS and CRE CDO ratings at Moody’s Investors Service. Before Moody’s, he held positions in the MBS and CRE groups at Greenwich Capital Markets and began his career in fixed income sales at Lehman Brothers. He holds a CFA (Chartered Financial Analyst) designation and a B.S. in Business Administration with a concentration in Finance from University of Massachusetts at Lowell.
Jonathan Mechanic is chairman of Fried Frank’s Real Estate Department and a member of the firm’s Governance Committee. Prior to joining Fried Frank as a partner, he was general counsel and a managing director of HRO International, a real estate development organization responsible for developing more than 2.5 million square feet of office space in Manhattan.
Jon routinely counsels developers, owners, investors, REITs, and lenders in all aspects of commercial real estate transactions. Notably, he represents JP Morgan in connection with its redevelopment of 270 Park Avenue into a new 2.5 million-square-foot headquarters building and Citadel on its master leases of 350 Park Avenue and 40 East 52nd Street as well as on the joint venture with Vornado and Rudin Management to develop a new 1.7 million-square-foot headquarters building on the 350 Park/40 East 52nd Street site where they will lease approximately 850,000 square feet with contraction and expansion rights. Jon has led joint ventures for Park Tower with Brookfield and with Rockefeller Center Development Group on the five multifamily projects that have been constructed or, in the case of Rockefeller Center Development Group, are being constructed in the Greenpoint section of Brooklyn. He represented CW Capital Asset Management in its sale of Stuyvesant Town-Peter Cooper Village to Blackstone Group and Ivanhoé Cambridge. Jon also represents landlords and tenants in commercial leasing and ground lease transactions, including his recent representations of MCR Hotels in its ground lease of the legendary Gramercy Park Hotel; Citigroup in its long-term lease of its global headquarters at 388-390 Greenwich Street and the exercise of its option to purchase the building; Coach in the sale-leaseback of its global headquarters at 10 Hudson Yards; Ernst & Young in its more than 600,000-square-foot lease for its new headquarters at One Manhattan West; Shiseido in its 225,000-square-foot lease at 390 Madison Avenue for its US headquarters; and JP Morgan in its 437,000-square-foot-lease at 390 Madison Avenue.
Jon has taught the real estate transactions course at Harvard Law School for more than ten years. He also lectures regularly for NYU Law School, the Real Estate Board of New York and the Practising Law Institute, and is a co-author of The Commercial Office Lease Handbook published by the American Bar Association.
Jon was recently awarded the 2023 New York Law Journal Lifetime Achievement Award and profiled for his outstanding contributions by the Financial Times. He was awarded the 2016 Distinguished Alumnus Award from New York University and the 2016 Chambers USA Outstanding Contribution to the Legal Profession Award. For a decade, Jon has been recognized by Chambers USA as a “Star Individual” in real estate. He is consistently included on Commercial Observer’s “Power 100” list of the most powerful people in New York real estate and was the only practicing attorney to make the list in 2015, 2016, 2017, and 2018. In 2019, Jon was joined by land use partner Melanie Meyers as the only two practicing attorneys on the list and in 2020 he was one of three practicing attorneys recognized. In 2021 and 2022, Jon was recognized by City & State New York in its “Real Estate Power 100” list and its "Law Power 100" list. In addition, he was named “MVP Lawyer of the Year” by Law360 in 2019, 2013, and 2011. Fried Frank’s Real Estate Department has been recognized as Law360’s Real Estate Group of the Year and was recognized by Chambers USA as the 2019 Real Estate Law Firm of the Year and was awarded the 2018 Real Estate Client Service Award and the 2009 Award for Excellence in Real Estate.
Jon is a member of the Executive Committee, Board of Governors for the Real Estate Board of New York and the Board of Trustees of NYU Law School. He is also Chairman of the Advisory Board of the NYU Furman Center for Real Estate and Urban Policy, a member of the Advisory Board of the NYU Schack Institute of Real Estate, a member of the Industrial Advisory Board for the Columbia University Center for Urban Real Estate, and a member of the American College of Real Estate Lawyers.
Jon received his JD from New York University School of Law in 1977, where he served as an editor of the Law Review and was elected to the Order of the Coif, and his BA, magna cum laude, from Brandeis University in 1974.
He is admitted to practice in New York.
Deryk Meherik joined Moody’s Structured Finance Group in 2003 and is currently an Associate Managing Director within the CMBS & CRE CDO Surveillance team. He also oversees the review of primary US CRE CDO/CLO transactions. In addition, he contributes to CRE
CDO/CLO research.
Deryk has authored or co-authored three global rating methodologies including SF CDOs, SF resecuritizations, and SF interest-only securities. Prior to being appointed to his current position, he was a lead analyst within the CMBS & CRE CDO primary team, where he rated various fixed and floating rate CMBS and CRE CDOs transactions. Additionally, Deryk has rated primary Structured Credit transactions. Prior to joining Moody’s, Deryk was a CRE acquisition and research analyst for a private New York based real estate firm. Deryk holds a dual M.S. in civil engineering and real estate development from the Massachusetts Institute of Technology, and a B.A. from the University of Calgary.
Robb holds the position of Associate Managing Director at Moody's Investors Service, where he has been part of the Commercial Mortgage-Backed Securities (CMBS) New Issuance group since 2006. With a career spanning over 25 years in commercial real estate Robb has developed a deep understanding in commercial real estate, credit analysis, and ratings theory.
In his current position, he co-leads the CMBS New Issuance team, where he has a particular focus on the retail and large loan sectors. This role has allowed him to leverage his knowledge in commercial real estate and structured finance.
Before his tenure at Moody's Investors Service, Robb worked at PricewaterhouseCoopers within the Real Estate Advisory Services Group. Additionally, he also was part of the Real Estate and Lodging Investment Banking Group at JP Morgan.
Robb's gained a Bachelor of Science degree from Cornell University, and a Master's degree in Real Estate Finance from New York University.
EJ is a Vice President/ Senior Credit Officer for Moody’s Investors Service. She has been with the Commercial Mortgage Backed Securities group since 1998, and has rated transactions in the US and in Japan. She currently oversees the Large Loan/Single Asset Single Borrower segment of CMBS Surveillance. EJ was with Arthur Andersen Hospitality Consulting Group in New York City prior to joining Moody’s, and she also has international hotel operation experience.
EJ has a BA from Ewha Womans University, and a Master of Management in Hospitality from the Hotel School, Cornell University.
Meena Pursnani, Director, heads CMBS credit within structured products for MetLife Investment Management (MIM) Public Fixed Income.
Meena has been with MIM since 2014 and she is responsible for managing the CMBS portfolio including underwriting of new investments and surveillance of the existing portfolio. Prior to joining MIM, for five years Meena was a research analyst/portfolio manager at Capital Research and Management Company (American Funds) where her responsibilities included CMBS and European Covered Bonds. From 2002 to 2007, she was with Deutsche Bank Asset Management where she was a Managing Director/Head of Structured Research and senior CMBS analyst. From 1997 to 2002 she was a Vice President/Senior Analyst in the CMBS group at Moody’s Investors Service. Prior to joining Moody’s Meena also held roles as a Loan Originator and Loan Workout Specialist in the Commercial Real Estate divisions of UBS and BNY Mellon. Meena has over 30 years of industry experience.
Meena earned a B.A. in Biochemistry from Rutgers University and an MBA from Carnegie Mellon University’s Tepper School of Business.
Adam R. Schwartz is the Managing Partner of TPG Angelo Gordon. He is the global head of the platform’s real estate group. Since joining TPG Angelo Gordon in 2000, Adam has been directly responsible for, or overseen, over $32 billion of real estate assets. He has significant experience in the acquisition and repositioning of all property types. Prior to joining TPG Angelo Gordon, Adam worked in the acquisitions group at Vornado Realty Trust, a public real estate investment trust. Adam is a member of the executive committee of the Zell-Lurie Real Estate Center at The Wharton School and is a trustee of the Urban Land Institute. He is on the board of directors of SparkYouth NYC (formerly The Catalog for Giving) and the Damon Runyon Cancer Research Foundation, and also sits on the board of directors for the Pension Real Estate Association.
Adam has a B.A. degree from the University of Pennsylvania.
Atsi Sheth is Managing Director and Global Head, Credit Strategy and Research.
Moody’s Credit Strategy & Research group includes global teams focused on Macroeconomic Research, Default & Ratings Analytics and Global Emerging Markets as well as regional credit strategy teams each focused on Asia-Pacific, the Americas, and EMEA.
Together these teams establish and articulate Moody’s house views on the trends that drive risk across countries, sectors and asset classes. They undertake in depth data driven analysis and leverage the expertise of ratings and research analysts across Moody’s to generate global, regional and sector insights on macro-economic, political, policy, technology and environmental, social and governance (ESG) risks.
In her capacity leading the group, Atsi also serves as a spokesperson on Moody’s analytic views, engaging with investors, the media and a wide range of public and private sector stakeholders.
Atsi is a long-time champion of Moody’s Diversity, Equity & Inclusion (DE&I) as well as our Corporate Social Responsibility (CSR) initiatives. She serves as co-chair of the CSR Thought Leadership & Solutions working group and the Senior Advisor to Moody’s Asian Leadership Initiative - a Multicultural Business Resource Group.
Prior to her current role, Atsi was Moody’s Chief Credit Officer for the Americas and before that Managing Director in Moody’s Sovereign Risk Group. She has also served as Chief Economist at Reliance Capital and taught courses on International Political Economy and Emerging Markets at Columbia University and Northwestern University. Atsi has a PhD from Northwestern University and a B.A. from Bombay University.
Darrell Wheeler manages CMBS and CRE CLO research for Moody’s Ratings. He is renowned for developing mortgage-backed securities analysis and models that provide unique fundamental credit insights.
His structured finance experience is extensive, previously managing the structured finance research of S&P Global Ratings, Citigroup Global Markets and Cantor Fitzgerald. He is a past member of CREFC’s Board of Governors and currently participates in CREFC’s editorial board. He has contributed research to numerous publications, including CREFC’s E-primer.
