| While many US lenders continue to lick their wounds, China’s largest bank, the Industrial & Commercial Bank of China (ICBC) is rolling out a large loan CRE lending program in the US ($100M or bigger), providing a much-needed capital source. |
| Meet the team that reps ICBC in its domestic real estate deals, the new Mayer Brown NY real estate chair Bob Koen and esteemed colleague Vic Salerno, both coming from DLA Piper in late January. They tell Legal Bisnow that their move was driven by Mayer Brown’s strong reputation as an institutional lender firm and a large China presence (bolstered by the ’08 Johnson Stokes & Master merger). Their practice is already picking up with a variety of institutional loan-related transactions, as well as lender representation on FiDi’s Setaiproject and tenant side representation on the revitalization of The Times Square Theater Project on 42nd Street. |
| Once an active rock climber, Vic’s segued to something a little faster—racecar driving. He tells us he’s sped at 100 mph around the track at Skip Barber Racing School for years. Maybe it’s something about the rubber on the road, but Vic informs us he’ll be opening a sneaker and skateboard shop in Chinatown calledDave’s Wear House with his friend Dave (founder of famous Bowery-based sneaker shop: Dave’s Quality Meat), whom he met 14 years ago through new Mayor Brown associate Dan Dwyer. The store is set to open in late March or early April, and Vic will be participating as the non-operations business guy. Though Bob doesn’t aspire to join Vic in the skate shop, he does plan to improve his golf handicap and continue serving as editor for Thomson Reuters’ Real Estate Finance Journal, a position he’s enjoyed for 10 years. |
EASTERN CAPITAL
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