David Hodes and Doug Weill have attracted Rainew Realty Advisors restructuring executive Ray Potter to join their advisory firm as principal.
Hodes Weill & Associates said in a statement Potter had joined the firm to focus on property underwriting, due diligence and principal investment activities.
At Rainew, Potter focused on restructuring assignments and targeting distressed debt opportunities from commercial banks and special servicers. Prior to Rainew, Potter was managing director with Credit Suisse’s real estate finance group, responsible for a commercial mortgage-backed securities origination team in New York, Chicago, Philadelphia and Tampa. He has also worked with Column Canada, Chase Manhattan Bank and HSBC.
Hodes and Weill left Credit Suisse’s placement agent, the Real Estate Private Funds Group, in July to form their own advisory firm targeting the recapitalisation and restructuring of fund managers and portfolio investments.
Potter said in a statement the current market dislocation was generating “significant distressed real estate investment opportunities” for rescue finance, as it has been billed, with co-founder Weill adding Potter would have “an immediate impact on our advisory and restructuring engagements”.