Job Warshaw Lands at Iron Hound After Leaving Starwood Special Servicer

Job Warshaw, who resigned as head of special servicing for Starwood Property Trust-affiliated LNR Partners in early summer, has landed a new consulting role at Iron Hound Management.

Warshaw, who left LNR Partners in a move first reported by Commercial Observer on July 3, began working with Iron Hound in September, advising on loan workouts and restructurings. 

Commercial Mortgage Alert first reported Warshaw’s move to Iron Hound, which was founded in 2009 by Rob Verrone and Chris Herron.

“I’ve had a ringside seat watching Iron Hound at work since their inception,” Warshaw told CMA. “At the end of the day, the success in this niche business is all about relationships, trying to reset expectations reasonably on both sides of the table.”

New York City-based Iron Hound has developed a niche for navigating often lengthy CMBS workouts. It executed $4.5 billion of restructuring volume in 2023 involving mainly extensions for maturing debt and loan modifications to allow borrowers to implement capital improvements to their properties. 

Miami Beach-based LNR, where Warshaw spent 32 years at, was acquired by Starwood in 2013 and is one the world’s largest commercial mortgage-backed securities special servicers. Warsaw began heading up the special service unit at LNR in 2011, according to CMA. 

Iron Hound did immediately return a request for comment.

Verrone told CMA of Warshaw, “We had the opportunity to add the Derek Jeter for workouts.”

Andrew Coen can be reached at acoen@commercialobserver.com