The Moinian Group has launched a lending division, Moinian Capital Partners, Commercial Observer can first report.
The platform will provide senior mortgages, mezzanine loans, preferred equity and construction loans starting at $25 million, and finance large institutional assets within the hotel, office, retail, land and residential sectors.
Jonathan Chassin will lead Moinian Capital Partners in his new role as managing director at the company. Most recently, Chassin was an executive in Morgan Stanley’s principal transactions group and has originated more than $3 billion in commercial real estate loans throughout his career. Previously, Chassin was the head of capital markets at UBS Real Estate Securities.
”I am excited to start the new lending platform here at the Moinian Group,” Chassin said. “Moinian Capital Partners will bring flexible financing solutions at all levels of the capital structure. The infrastructure and operational capabilities here at the Moinian Group, allow us to move quickly and decisively to provide capital solutions to the most complicated assets.”
“The Moinian Group has always looked to the next frontier of real estate,” said Joseph Moinian, chief executive officer of The Moinian Group, in prepared remarks. “Our success and experience over the last 30 years has now led us to Moinian Capital Partners. We have tremendous relationships and standing throughout the market and continue to see the need and opportunity for strong, stable, private lenders. We are perfectly positioned to provide financing.”
Moinian will make the final decision regarding deals financed by the platform, Chassin said.
Chassin’s first day was Feb. 6 but he already has some familiarity with his new colleagues, having worked with Moinian Group in his previous role. “In my last role at Morgan Stanley I did over $500 million of financings for Joe. This is a relationship that has existed for a while, and this [role] is a different iteration of it,” he said.
Chassin continued to say that the company’s position as a nonbank lender appealed to him, and that he believes the backing of Moinian Group’s infrastructure will give the new platform a distinct advantage. “There are purely financial players out there, but that’s not us,” he said. “We have significant operational capabilities and experience from owning, leasing and developing projects. I think ultimately the nonbank lenders that have those capabilities are going to add the most value to financing partnerships than.”
With regard to first year goals, Chassin expects that Moinian Capital Partners will reach $1 billion in financing this year. “That being said, we are going to pick and choose the spots where we see value and we like the real estate.”