Deutsche Bank’s Global CRE Head Departs for Oak Hill Advisors

Matt Borstein has left his post at Deutsche Bank, and Dino Paparelli will take the reins at the bank, sources said

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Deutsche Bank’s global head of commercial real estate, Matt Borstein, has exited his role at the bank for a role at Oak Hill Advisors (OHA), Oak Hill announced today. Deutsche’s Dino Paparelli, who most recently served as the bank’s head of commercial real estate in Europe, will be handed the reins of the global CRE outfit, sources said. 

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Borstein, a veteran of more than 26 years in the commercial real estate sector, is joining Oak Hill as a partner after a decade at Deutsche Bank and five years in his post as global head of commercial real estate, where he led a $30 billion real estate financing operation. He was also  named the head of global financing and credit trading for the Americas last year. 

Borstein’s successor in the role of global head of commercial real estate is Paparelli, the bank’s previous head of the firm’s CRE business in Europe and someone who’s logged nearly nine years at the bank. Riddhi Barman will assume control of Borstein’s previous role as the head of global financing and credit trading for the Americas, as per an internal memo circulated by Deutsche Bank and obtained by CO. 

Borstein will help spearhead an expansion of Oak Hill Advisors real estate investment activities, deploying “capital across a range of real estate opportunities including loans, securities and hard assets,” as per the firm’s announcement. 

Borstein expressed his excitement in joining OHA in a statement, adding that the “firm has been a successful opportunistic investor in real estate and real estate-related debt for years and is now committed to building out the platform to be a dedicated scale financing provider. In the coming years, the challenges for current asset owners are going to be significant, and the debt, mezzanine and equity financing needs will be enormous. It is a great time to expand the OHA business and bring new capital and fresh ideas to help drive solutions and meet the needs of partners.” 

OHA founder and CEO Glenn August said in a statement that the firm looks “forward to benefiting from [Matt’s] exceptional network of relationships, deep insights into evaluating real estate markets and strong track record of performance. We believe there is an extraordinary opportunity developing in the real estate markets and are delighted to have Matt leading our team in building a world class real estate investment platform.”

Borstein’s addition will help facilitate an expanded global investment campaign to bolster OHA’s profile, which already sports a $45 billion investment coffer, according to OHA president Bill Bohnsack.

“The global real estate markets have long been attractive to OHA,” Bohnsack said. “The COVID-19 pandemic is fundamentally changing real estate market dynamics and there are massive effects on the global office, retail, hospitality, multi-family and other sectors. We are excited to expand OHA’s real estate investment activities in the current environment and are pleased to have attracted someone with Matt’s expertise … Under his leadership, we look forward to assisting real estate owners with their capital needs and deploying a portion of OHA’s $45 billion of capital.”