Thomas Tate Email & Phone Number

48 Wall Street, 14Th Floor, New York, Ny 10005

48 Wall Street, 14Th Floor, New York, Ny 10005

125 E. Elm Street, Conshohocken, Pa

Oversee a portfolio of value-add office properties, consisting of fourteen buildings containing more than 2.2 million square feet, and implement strategic business plans to achieve the financial objectives of a private investment fund.Develop operating strategies working with executive management, leasing, development, property management and accounting personnel to improve operating efficiencies and property cash flow, increase value, and maximize distributions to achieve the targeted return on investment to the fund.Prepare cash flow analyses to identify refinance, recapitalization, or disposition opportunities, evaluate leasing and capital improvement projects, and complete property valuation models, and hold / sell analyses necessary in developing an appropriate exit strategy.Collaborate with stakeholders, investors, lenders, attorneys, brokers and other real estate professionals in all asset activity, including negotiating purchase and sale agreements, loan modifications and extensions, prepare and present annual operating budgets, business plans, and quarterly investor reports, recommend lease approvals, monitor operating performance to ensure borrower compliance with all loan covenants.Results: Managed the due diligence process for the disposition of an 80,000 square foot office building in Westchester, NY, despite losing a tenant that occupied 15% of the building. Coordinated ongoing discussions for the extension of three loans, while managing a significant capital improvement project, new leasing, and the disposition process for two of the six buildings securing the loans.

367 S. Gulph Road, King Of Prussia, Pa 19406

Improve efficiencies within the portfolio by directing corporate real estate activities, proactively evaluating space needs, and developing leasing, acquisition and disposition strategies while ensuring regulatory compliance.Acquire development sites, and buildings, dispose of vacant land, and obsolete or underutilized facilities, as well as negotiate, review and approve new leases and renewals, while collaborating with executive management, various stakeholders, attorneys, and external real estate professionals.Conduct real estate due diligence for corporate acquisitions of both acute care and behavioral health organizations by evaluating the physical assets, environmental condition, lease compliance, valuation, and other real estate related concerns, in the United States and the United Kingdom.Results​: Negotiated, reviewed, and approved over 100 new leases and 275 lease renewals, resulting in annual rent savings of more than $1,500,000. Acquired nine properties supporting growth in the acute care and behavioral health divisions and sold five vacant properties achieving a 25% increase in budgeted net sale proceeds.

Horsham, Pa

Responsible for originating residential mortgage loans for homeowners and investors on behalf of six national mortgage lenders as a licensed loan originator within the Commonwealth of Pennsylvania. Also responsible for originating commercial mortgage loans for both local and regional investors on income producing real estate within the Greater Delaware Valley, Eastern Pennsylvania, and New Jersey.

161 Washington Street, Suite 900, Conshohocken, Pa 19428

Responsible for managing the performance of a portfolio of real estate investments valued at nearly $600 million on behalf of five private equity funds and the company’s warehouse account, applying investment and property management skills necessary to preserve capital, enhance value, and maximize returns for the company, its investors, and operating partners. Current investment portfolio consists of sixteen properties, including more than 750,000 square feet of office and retail space, and 3,500 multifamily, and student housing units located in seven states. Oversee the operating performance, leasing, and capital program in accordance with the business plan and budget, through monthly reporting and analysis of property cash flow, variance analysis, and investment returns. Maintain a thorough understanding of market conditions necessary to proactively employ property level performance strategies.Perform quarterly valuations, employing appropriate valuation methods, including Income Capitalization, and Sales Comparison approaches to value. Prepare and present asset summaries to portfolio management, and the Valuation Committee highlighting changes and results in operating performance and investment returns that drive values.Review and approve annual operating and capital budgets. Process requests for additional equity funding of operating shortfalls, renovations, tenant improvements, and development costs in accordance with the joint venture agreement.Support the portfolio managers, and senior management in developing strategies for recapitalizing, refinancing, and disposition of projects. Prepare hold / sell analyses and work with operating partners, lenders, underwriters, legal counsel, brokers, and senior management in recommending an appropriate exit strategy. Also negotiate brokerage agreements, purchase and sale contracts, loan modifications, extensions, workouts, and mortgage satisfactions with third parties, operating partners, and lenders.

Horsham, Pa

Responsible for managing a portfolio of fixed and floating rate, intermediate term, commercial real estate loans for the Principal Finance Group. The portfolio consisted of more than thirty non-recourse loans, with a committed principal amount of $1 billion secured by commercial real estate located throughout the United States, including office, retail, multifamily, and residential condominiums. Supervise and direct a team of six asset managers and associates to ensure the highest level of service to borrowers, and investors, while supporting the lending and investment platforms within the company.Monitor assets in accordance with underwritten pro forma analyses, borrower’s business plan, and current market conditions. Develop and evaluate alternative resolutions when performance varies from plan and recommend optimum strategy for individual assets. Calculate quarterly risk ratings for all loans and present the results to the Credit Department, utilizing a risk rating model that relies on quantitative, and qualitative measures including property level cash flows, property valuations, market conditions, and underwriting indices to support an appropriate risk rating and loan loss reserve.Review and approve loan advance and disbursement requests for construction, capital improvements, tenant improvements, leasing commissions, operating shortfalls, and interest reserves in accordance with specific loan provisions.Direct action strategies and negotiate loan modifications and extensions with borrowers and legal counsel. Present loan revisions for credit approval, and assist underwriter, and legal counsel in drafting and documenting these changes to the loan agreement.Assist Global Sales and Distribution with the selection of loans for securitization, whole loan sale, participation, and syndication. Participate in negotiating inter-creditor, co-lending, and servicing agreements which define the asset manager’s ongoing role as both agent and servicer.

Associate Director Asset Management, Investment Advisory Group 4/1997 – 1/2002Responsible for managing a portfolio of real estate investments valued in excess of $250 million, including fixed rate permanent mortgages, participating loans, and real estate equities located throughout the United States. Maintain and enhance investor relationships with institutional clients including pension funds, life insurance companies, and investment trusts by preparing and presenting quarterly investment and property valuations, hold / sell analyses, and investment committee memoranda and recommendations. Directed the management of loan default proceedings, including foreclosures, and bankruptcies with borrowers, lenders and attorneys. Develop comprehensive asset management plans, direct the hiring of management and leasing agents, and monitor all aspects of property management. Manage the property disposition process of REO assets, including marketing, pricing, negotiation, due diligence, and closing for nine properties in six states resulting in an average recovery ratio of 99% of book value.Assistant Vice President / Loan Production 1/1991 – 4/1997Investment Officer 1/1988 – 12/1990Real Estate Analyst 1/1986 – 12/1987