The new office will solicit loans on apartments, shopping centers, warehouses, office buildings and other commercial properties. It will be managed by Gary Goss, who joined Charlotte, N.C.-based First Union from Fleet Real Estate Capital's California office. First Union Capital Markets Group is the trade name for the capital markets activities of First Union Corporation, the nation's sixth-largest bank holding company.
On Thursday, First Union Capital Markets Corp.. the investment banking subsidiary of First Union Corporation, and Lehman Brothers announced the completion of a $1.3 billion offering of commercial mortgage-backed securities. The transaction marks the industry's second- largest commercial mortgage conduit securitization to date.
We see a tremendous opportunity in expanding our commercial real estate finance business to the West," said Larry Brown, managing director of First Union's Commercial Real Estate Finance Group, a division of the Capital Markets Group. "Gary Goss is the ideal candidate to lead our efforts. He has a great deal of experience and talent and is very knowledgeable of the real estate market in that region."
Goss has worked for more than 15 years in commercial real estate sales and finance in the western United States. Goss graduated from Southern Methodist University in Dallas with a bachelor of arts degree in economics.
"I am excited about joining First Union as it expands its commercial real estate finance business to the Western region," Goss said. "First Union is focused on meeting the needs of commercial multi-family property owners and developers by offering competitive rates and efficient funding through a wide variety of loan programs.
Goss can be contacted by calling 714-260-8010.
The addition of the West Coast office brings to seven the number of regional facilities operated by the Commercial Real Estate Finance Group. The other offices are located in Charlotte, N.C.; Atlanta, Ga.; Jacksonville, Fla.; Nashville, Tenn.; Newark, N.J.; and the Virginia/Maryland/Washington, D.C. area.
First Union Corporation provides a full range of capital markets products and services to corporate clients including real estate finance, public finance, asset-backed securities, syndicated loans, merger and acquisition advisory, private placements and high-yield finance.
First Union Corporation is a full financial services provider with assets of $137 billion as of March 31, 1997. The company serves more than 12 million customers throughout the East Coast and nation.
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