Alex Wagman, 30

“I would encourage folks to take risks, especially early on in your career.” That’s the career advice that Alex Wagman would give anyone joining the commercial real estate finance industry today.

“Also, don’t be afraid to not know everything. While there are a lot of intelligent people in the industry, the market continues to evolve, and that is something to take comfort in since there are folks that have been in the business for 20-plus years that are dealing with some of these circumstances for the first time in their careers as well.”   

Truer words have never been spoken in relation to the past four years or so. Still, since joining Wells Fargo in late 2018, Wagman has placed more than $80 billion — yes, you read that right — of large loans, and helped the platform expand its market share in the single-asset, single-borrower (SASB) CMBS space year after year. 

In his current role, Wagman is responsible for mezzanine and subordinate debt distribution backed by the firm’s capital markets originations, from conduit and SASB CMBS to portfolio loans. 

Wagman’s team has executed plenty of headline-worthy transactions over the years, but perhaps the crown jewel during his tenure has been the $3 billion CMBS financing for One Vanderbilt on behalf of SL Green Realty — the biggest single-property CMBS deal ever, and also the largest green bond offering ever. In addition to the sheer size of the transaction, it closed at a pertinent time, representing the first mega-financing of a trophy office following the pandemic, the skyscraper’s construction wrapping to coincide with the large-scale return to office.

His team, too, led KSL Capital Partners’ SASB take-private of Hersha Hospitality Trust in late 2023, comprising a $736 million SASB loan plus $204 million of mezzanine debt. The deal was not only the sole take-private merger and acquisition transaction executed in the CMBS market in 2023, but it was also the first Wells Fargo had completed since helping Brookfield take Watermark Lodging Trust private in October 2022. 

“At the end of the day, I’ve learned that if you’re truly passionate about something and are willing to learn, you will be successful in one form or another,” he said. “There isn’t much that the combination of strong work ethic and passion can’t overcome.”

You’d think Wagman wouldn’t have any time to spare, yet he is not only an active member of CREFC, but also an active community member within New York City, raising money for cancer research charity Cycle for Survival as well as supporting God’s Love We Deliver and One Love Foundation.