M&T Bank has launched its new commercial real estate innovation office and built a team focused on connecting various financial products for commercial real estate owners, borrowers and lenders with debt capital markets and agency and insurance company placements.
The new group is based in New York and is led by Brooke Cianfichi, who has been named an executive vice president and head of M&T’s CRE innovation office. Cianfichi brings more than 20 years of banking, sales, real estate finance and fundraising experience to her new role.
“M&T has deep experience in the commercial real estate space, and the innovation office marks our commitment to continued expansion in diversified commercial real estate solutions,” said Peter D’Arcy, head of commercial banking at M&T Bank, in a corporate statement announcing the move. “This is a substantial opportunity to build upon our already strong capabilities in this space.”
M&T Realty Capital Corp. is a wholly owned subsidiary of New York-based financial holding company M&T Bank Corp., one of the 20 largest commercial bank holding companies based in the United States with one of the 10 largest commercial real estate loan portfolios in the nation, according to financial services industry trade publication American Banker.
As the commercial real estate segment lead covering strategy for M&T’s $48 billion commercial real estate debt commitments and the creator of its CRE innovation office, Cianfichi is responsible for overseeing the development of new capital solutions in commercial real estate for new and existing clients.
She is joined in those efforts by three new hires: Lopa Kolluri, Laura Murphy and Ashley Mitchell.
Kolluri joins M&T as a senior vice president from HUD, where she served as head of the Federal Housing Administration and oversaw 2,800 employees and $1.2 trillion in insured mortgages. With over 25 years of experience in housing finance policy, operations, transactions, affordable housing and economic development in the public and private sectors, Kolluri will serve as the group’s business strategy senior manager.
Murphy joins M&T as a senior vice president from TF Cornerstone, where she oversaw all debt capital market activities including mortgage financing for developments, acquisitions, existing properties, corporate facilities and lines of credit. As a senior strategic initiatives manager with the group, she will focus on executing new solutions.
Mitchell joins M&T as a vice president from People’s United Bank, where she worked with the bank’s commercial real estate strategy team. As lead commercial segment support analyst with the group, she will focus on improving efficiency and building revenue-generating initiatives to evolve the line of business.
Kevin McGrogan has joined Lee Industrial Contracting as chief operations officer in Pontiac, Michigan.
In his newly created role at the full-service contractor, McGrogan will oversee operations of its skilled trades teams while attracting new talent and executing project delivery schedules and budgeting.
McGrogan brings more than 20 years of manufacturing industry experience, most recently as a plant manager at BorgWarner, where he was promoted several times during his 11 years there. He previously held leadership roles at American Axle & Manufacturing and, before accepting his new role, resigned from the board of directors at Lee Contracting.
McGrogan holds a bachelors of engineering degree from Stony Brook University, a masters of engineering degree in industrial engineering from the University of Buffalo and an MBA from Walsh College.
(Updated July 22 to correct company affiliation.)
Kidder Mathews has hired Chris Riegel as a senior vice president in its office in El Segundo, California. In his new role, Riegel will continue to focus on office sales and leasing throughout Southern California.
Riegel brings more than 30 years of commercial real estate brokerage experience, most recently with Cresa Partners. Before that, he managed a 1.5 million-square-foot office and industrial portfolio at Trammell Crow Co. His client list includes Unify Federal Credit Union, City of Long Beach, MLK Medical Center, Providence Health Care and Microfabrica.
Blake Rodgers has joined Parkview Financial as a senior loan originator in Seattle.
In his new role, Rodgers will launch the firm’s first Pacific Northwest office and will focus on sourcing and executing commercial bridge and construction loans opportunities across the country.
Rodgers brings more than 15 years of real estate lending and business development experience, most recently at Builders Capital, where he originated more than $850 million in construction financing for multifamily, mixed-use and single-family developments. He began his career in multifamily investment sales with Marcus & Millichap in 2007, and since then held production roles at Columbia Pacific Advisors and Civic Financial Services.
CBRE Investment Management hired Trevor Eden as a senior director on the transactions team in its Americas logistics operator division.
Based in the firm’s Los Angeles office, Eden will source, underwrite and negotiate due diligence and closing of logistics property investments across various funds and separate account mandates throughout the Western U.S. markets.
Eden most recently served as a senior vice president at Griffin Realty Trust, where he oversaw acquisitions and dispositions of office and industrial properties across the region. Before that, he worked in acquisitions, asset management and real estate banking at Thomas Properties Group and Wells Fargo.
Wolf Commercial Real Estate hired Chemmie Sokolic as a due diligence and development consultant in Marlton, New Jersey.
In his new role, Sokolic will continue to specialize in the environmental due diligence of commercial and industrial properties across the Pennsylvania and New Jersey markets.
Sokolic brings more than 21 years of land use and engineering experience, having conducted more than 1,000 Phase-I Environmental Site Assessments, preliminary assessments, environmental inspections and due diligence projects for residential, retail, office, industrial and manufacturing facilities. He founded Falcon Real Estate Group, a team of scientists, engineers, financial specialists and technicians providing due diligence services by evaluating current and past property uses and conditions in addition to identifying potential risks, liabilities and constraints with a property’s current and possible future uses.
Christian DiCroce has joined Avison Young as an associate broker in Charleston, South Carolina.
In his new role, DiCroce will focus on multifamily investment sales throughout the greater Charleston area.
DiCroce brings nearly eight years of real estate investment and management experience, including acquisitions, asset and property management for Kew Management Corp. and Jamestown in New York.
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CoStar’s People of Note is a national column published each Friday covering the latest personnel moves in the commercial real estate industry. Send new executive hires and promotion announcements to [email protected].