RXR Adds Steven Schwartz to Lead Real Estate Credit Platform
By Andrew Coen October 31, 2024 3:44 pm
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RXR has hired longtime commercial real estate finance executive Steven Schwartz to lead its real estate credit business, the company announced Thursday.
Schwartz, who has more than 30 years of CRE credit experience, will be tasked with scaling RXR’s lending volume in 2025 following a busy 2024 in which year-end originations are expected to approach $1 billion. RXR expanded its credit platform in 2021 following a merger with Hudson Realty Capital.
PERE Credit first reported the hire.
The CRE credit veteran was most recently co-head of real estate credit at alternative investment assets firm H.I.G Capital, and prior to that was head of acquisitions at Torchlight Investors where he also ran the special servicing business. Schwartz previously spent nearly 20 years at J.P. Morgan Chase, where he was co-head of the CRE and commercial mortgage backed securities groups.
In addition to hiring Schwartz, RXR is also adding Annie Hsieh and Greg Oran to its equity capital markets team with a focus on expanding the credit platform. Hsieh and Oran both arrive from Partners Group.
“With nearly $1 billion in loan originations anticipated in 2024 and an expected acceleration in 2025, Steve, Annie and Greg join RXR at a pivotal time for the company and the industry,” Scott Rechler, chairman and CEO of RXR, said in a statement.
The hires of Schwartz, Hsieh and Oran come nearly a year after RXR added Scott Crowe as chief strategy officer and head of equity capital markets. The new additions will work closely with Crowe and Russ Young, RXR’s head of investment
“We continue to invest in business development and capital-raising resources by hiring top-tier talent,” Michael Maturo, president of RXR, said in a statement. “Annie and Greg will join Scott Crowe as they build out our equity capital markets team.”
Andrew Coen can be reached at acoen@commercialobserver.com.
