Jamie Henderson, Kate Byford and Joshua Howes
Head of commercial real estate; head of agency finance; and head of balance sheet lending at Capital One
Last year's rank: 36
Capital One followed its record 2021 with another active year despite choppy (to say the least) market conditions.
The company, which had total originations of $38.8 billion in 2021, executed $35.7 billion of volume for the 12 months ending March 15, 2023. Capital One also grew its agency lending portfolio to more than $50 billion and is a top-5 Agency lender by volume.
“Agency lending is a key part of our CRE business, and we continue to grow the portfolio,” Kate Byford said. “Agency lending is a critical source of liquidity in the market at all times, and it’s an excellent complement to our balance sheet product set.”
Capital One’s notable deals involved multifamily financing that included a $142 million acquisition loan for the Dermot Company’s purchase of a 271-unit multifamily property, The Addison at 225 Schermerhorn Street in Brooklyn. Another $94 million of construction financing was provided by Capital One for developer Foulger-Pratt to build a 148-unit affordable housing community in Washington, D.C. The transaction involved a $39.2 million construction loan, a $21.1 million Freddie Mac-backed, fixed-rate loan, and a $34.2 million investment in Low-Income Housing Tax Credits.Capital One also supplied a $91 million debt package for Raintree Partners to refinance two Southern California apartment communities at 848 Weber Circle in Ventura, Calif., and at 1171 Baywood Drive in Corona, Calif.
“We constantly evaluate our portfolio with a focus on resilience and risk management,” Jamie Henderson said. “As the market grew more challenging in the middle of 2022, we relied heavily on market data and analytics to help inform our strategic approach and, in some cases, to help our borrowers capitalize on interest rate volatility.”
The last year also saw Capital One launch a diversity, inclusion and belonging (DIB) mentorship program aimed at fostering increased professional connections and leadership skills. Capital One has also partnered with Project Destined, a platform for introducing minorities to commercial real estate, since 2021.
“We launched the DIB mentorship program to help associates become more connected and build inclusivity through professional relationships,” Henderson said. —A.C.