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Jonathan Strain, Goldman Sachs’ co-head of US Real Estate Finance until just last week, has left the firm to start his own CMBS outfit.
Jonathan’s new fund will focus on purchasing B-pieces of CMBS, the Commercial Observer reports. Jonathan joined Goldman in 2014, and before that he ran JP Morgan Chase’s CMBS capital markets group for seven years.
The CMBS markets have been jittery the past few months, beset by macro pressures, shifting loan terms and new regulations.
But volatility is good news for those who trade in it, and many market watchers say there’s plenty of opportunities on the horizon as the so-called Wall of Maturities hits over the next three years. [CO]
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