Matt Fagella.
Matt Fagella, 26
Associate in Debt and Equity Capital Markets at JLL
Matt Fagella has almost $1 billion in transactions in his pipeline right now, most of which will close by year’s end. And, while it may not be a particularly relaxing holiday season for him, he still has no complaints.
“I’ve been lucky to work on a team that’s really active, so I’ve gained exposure to a variety of different asset classes and deal structures,” he said. “It’s been a great experience.”
Like teams at other firms early in the pandemic, his found itself acting in more of a consultancy or advisory role, helping clients who were unsure as to how to proceed with transactions in COVID’s murky veil. But, over the past six months, the markets have fully opened up.
Fagella said the competition is now “100 percent” back in the debt markets. Further, “over the past few years, the number of debt funds and specialty finance lenders entering the market has grown substantially — these funds are adding liquidity and increasing competition in the real estate lending space.”
Notable deals on Fagella’s resume include the $365 million commercial mortgage-backed securities financing for Metro Loft’s 180 Water Street in the Financial District; a $44.5 million loan for The Landing at Woodyard, a redeveloped shopping center in the Washington, D.C., suburb of Clinton, Md.; and a $225 million bridge financing for a New Jersey industrial portfolio — which closed in December 2020, no less.
Fagella got his industry start as a summer intern for JLL after his junior year of college. “I knew I wanted to come back full time, but I was waiting for a spot to open up in the debt and equity capital markets group,” he said.
While he waited, he took a position at Steve Cohen’s Point72 Asset Management. “I think having that hedge fund background has been really helpful in my current role,” he said.
Today, Fagella works on a JLL team headed by Max Herzog and Marko Kazanjian, who he said have been “incredible mentors” to him.
As for advice he’d give to others entering the coolest industry on the planet today?
“Stay on top of the news and try to really understand the latest trends in the market,” he said. “It’s important to know where funds are looking to place money and how we can effectively create partnerships between investors. Commercial Observer is a great resource for that.”
We can’t argue with that.—C.C.
