Global Real Estate Capital

History

1920

In 1926, Herman and Bert Ackman founded Ackman Brothers. Initially focused on new construction and acquisition projects, the brothers shifted their focus to property refinancing opportunities with the onset of the Great Depression and World War II. During the post-war construction boom, the firm developed a reputation as a highly capable land assembler.

1960

Larry Ackman, Herman’s son, joined the firm during the 1960s, ultimately becoming president in 1968 and CEO in 1977. In response to the instability in interest rates and property values that marked the 1970s and 1980s, the firm engineered various financial vehicles to match market movements, thereby reducing a critical area of interest rate risk in clients’ projects.

1980

The firm embarked on the next stage of its evolution when Simon Ziff joined Ackman Brothers and Singer in 1989 as an analyst. Simon was named president of Ackman-Ziff Real Estate Group in 1995 and Larry Ackman assumed the Chairman role. As president, Simon has overseen the firm’s aggressive growth.

2019

Today, Ackman-Ziff Real Estate Group is the industry’s preeminent boutique real estate capital advisory firm – offering a wide variety of cutting-edge commercial real estate capital markets financing solutions including debt and mezzanine financing, preferred and joint venture equity, sponsor equity, and investment sales. The privately held company is headquartered in New York City with offices in Miami, Los Angeles, and Boston.

People

  • Leadership

    Ackman-Ziff is led by an executive management team that shares a common entrepreneurial focus and commitment to serving our partners, customers and employees.

  • Origination

    Ackman-Ziff is led by an executive management team that shares a common entrepreneurial focus and commitment to serving our partners, customers and employees.

  • Company directory

Simon serves as president of Ackman-Ziff, a position he assumed in 1995. Since joining the firm as an analyst in 1989, Simon has overseen the firm’s arranging of over $50 billion of debt, mezzanine and equity financings for some of the nations most sophisticated and prestigious real estate owners and developers while solidifying the firm’s relationships with key capital sources. Simon has engineered the firm’s collaborative culture which functions as a magnet for talent. He has directed its evolution as an industry thought-leader.

Simon received a B.S. in finance from Pennsylvania State University, and an M.S. in real estate finance from New York University. He has also been recognized on multiple occasions by NYU, Pennsylvania State University and the Real Estate Board of New York, including as the first recipient of its “Most Promising Commercial Salesperson of the Year Award”, six times as the recipient of its “Most Ingenious Deal of the Year Award”, and winner of the prestigious Louis Smadbeck award.

Simon has also been active in leadership roles of numerous not-for-profit organizations.

Russell Schildkraut

Principal

Russell joined Ackman-Ziff in 1997 and was named a Principal in 2002. Since joining the firm, he has successfully closed more than 450 transactions and over $19 billion of debt, mezzanine and equity financing. Russell has management responsibility of the firm’s debt placement practice.

Russell is a member of the Ackman-Ziff Executive Committee and is one of two members of the Ackman-Ziff Deal Approval Committee. Prior to 1997, Russell was employed by KPMG Peat Marwick in the real estate audit division as a supervising senior-in-charge accountant covering Publicly Traded Limited Partnerships, Real Estate Investment Trusts, Fortune 500 Companies, Pension Trusts, Separate Accounts and High Net Worth Investors with investments in Real Estate. Russell is licensed as a Certified Public Accountant in the State of New York. He holds a M.S. in real estate from New York University and a B.S. in accounting from Binghamton University. Russell twice led the execution teams awarded The Real Estate Board of New York’s Most Ingenious Financing Deal of the Year Award.

Patrick joined Ackman-Ziff in January, 2000 and was named a Principal in 2006.  Patrick leads the Joint Venture Equity practice at Ackman-Ziff. Since joining Ackman-Ziff, Patrick has arranged in excess of $16 billion in debt, mezzanine and joint venture equity financing.  In that time, Patrick has twice lead deal teams that have earned the Real Estate Board of New York’s “Most Ingenious Deal of the Year” award. Additionally, in March of 2004, Patrick was awarded the Real Estate Board of New York’s Most Promising Salesperson of the Year Award.

Patrick holds an M.S. in real estate investment from New York University and a B.A. in business from the University of Notre Dame. Patrick also served as an adjunct professor at New York University for three years.

Jason joined Ackman-Ziff in 2005 and was named a Principal in 2013.  Jason is responsible for the underwriting, structuring, and placement of debt, mezzanine and equity opportunities for a broad range of commercial real estate assets. Since joining the firm, he has successfully closed more than 200 transactions and over $10 billion of debt, mezzanine and equity financing.  Jason has twice been part of deal teams that have been nominated for the Real Estate Board of New York’s “Most Ingenious Deal of the Year” award (2008 award recipient) and was nominated for REBNY’s Most Promising Commercial Salesperson (2010).

Prior to joining Ackman-Ziff, Jason worked at Marsh & McLennan Companies and subsequently at Marsh & McLennan Securities where he was responsible for developing risk financing and insurance alternatives through capital market solutions, risk financing measures and credit enhancements, loss portfolio transfers, captive analysis and actuarial risk modeling.

Jason holds a B.A. in business administration (dual major in risk management and finance) from Temple University and a M.S. in real estate finance & investment from New York University.  He is a licensed NY Salesperson, a member of YREPNY and REBNY as well as participates in the New York University, Columbia University and Temple University mentor/mentee programs. While attending Temple, Jason was a 2-time NCAA All-American, a member of the United States National Gymnastics Team, named team captain and awarded the B’nai B’rith Scholar Athlete of the Year Award in 1998.

Marc joined Ackman-Ziff in 2012 and is a Principal in the firm. Marc is an experienced real estate investor and financier with over 30 years’ experience in the commercial real estate business. At Ackman-Ziff, Marc is responsible for originating and executing debt, equity and investment sales transactions as well as leading the Single Family Residential (SFR) lender finance and loan sale advisory practices.

Marc held senior roles leading the origination, structuring, and securitizing of over $30 billion in commercial loans at CSFB (1995-2000) and at UBS (2000-2005) and prior to that was a real estate investment banker at CSFB (1992-1995) and a senior lender/investor at Heller Financial (1985-1992). In 2005, Marc joined Black Creek Capital and opened its New York office and co-founded an $800 million (equity raised) private REIT as its President. Marc established Linear Realty Capital in 2007, an investor and advisor in various US commercial real estate properties and loans and a partner in a venture that owned a large interest in a public company operating the world’s largest energy exchange.

Marc graduated from the Real Estate and Urban Land Economics program at the University of Wisconsin-Madison and also studied Art/Architectural History at Wisconsin as an undergraduate. He has taught real estate/finance classes at Columbia University, NYU, University of Wisconsin-Madison, and several other business schools. Marc remains extremely active in a variety of professional and non-profit groups.

David is a Principal of Ackman-Ziff. David has over 30 years of experience in commercial real estate financing with a core competency in structuring complex mortgage debt and institutional joint venture equity transactions.

Prior to joining Ackman-Ziff in 2010, David founded Harte Real Estate Inc. in 1996 where he provided real estate capital markets solutions to clients on multifamily, retail, office, hotel, condominium development and senior housing assets. David began his career at an Ackman-Ziff predecessor firm where he developed expertise in financing ground leases, cooperative and condominium conversions and land assemblages along with construction and permanent debt financing.
David holds an M.B.A. from New York University Stern School of Business and a B.A. in economics from SUNY Binghamton. He is a member of the Ackman-Ziff Equity Committee and a member of the Real Estate Board of New York. David is a Licensed New York State Real Estate Broker.

Adam L. Steinberg

Principal

Adam L. Steinberg is a Principal of Ackman-Ziff Real Estate Group, specializing in arranging joint venture equity partnerships, preferred equity partnerships, and high-leverage mezzanine loans. Since joining Ackman-Ziff in 2004, Adam has closed dozens of transactions aggregating more than $2 billion of equity capital. Adam co-heads Ackman-Ziff’s Equity Business as well as Equity Approval Committee, which reviews and approves all new equity assignments.

Adam has more than 25 years of real estate investment banking experience. From 2000 to 2004 Adam worked as a vice president in AEW’s Partners Group, responsible for the execution of new acquisitions as well as investment management strategies. From 1997 to 2000 he was a vice president in the Investment Banking Group of Lend Lease/Boston Financial, where he was responsible for executing development transactions. Prior to that, he held positions with Rockwood Realty Associates and Allmerica Realty Advisors. Adam began his career as a real estate financial analyst with Salomon Brothers Inc.

Adam is a 1988 graduate of Dartmouth College (B.A.) and 1994 graduate of Cornell University (M.B.A.).

Andrew Fox

Chief Financial Officer

Andrew joined Ackman-Ziff in 2014 and serves as Chief Financial Officer. Andrew is responsible for finance, accounting, and reporting for the firm in addition to oversight of day-to-day operations, client coverage, office administration, marketing, and human resources functions.

Prior to joining Ackman-Ziff, Andrew was Chief Financial Officer at Savills LLC (now Savills Studley), where he spent seven years managing the financial and operational functions of the firm. While at Savills Andrew played a key role in the opening and staffing of multiple offices and new business lines, recruitment and onboarding of broker teams, and development of processes to streamline costs/efficiencies within office operations. Prior to Savills, Andrew held controllership/operational roles at companies of varying sizes (industries included retail/wholesale, technology, real estate) and started his professional career as an auditor for Ernst & Young.

Andrew holds a B.S. degree in accounting from the State University of New York at Albany, and chaired Albany State’s NYC alumni association chapter for 10-years post-graduation. He is a licensed CPA.

Simon Ziff
President

Russell Schildkraut
Principal

Patrick Hanlon
Principal

Jason Krane
Principal

Marc Warren
Principal

David Harte
Principal

Adam L. Steinberg
Principal

Andrew Fox
Chief Financial Officer

Culture

Culture

Ackman-Ziff has been a trusted advisor for over 90 years. This longevity is not a result of luck or happenstance, but rather leadership’s focus on building a culture, not merely a company. Talented people placed in the right culture can do amazing things together – the company is simply the body while the culture is the soul.

Ackman-Ziff team members are focused on building long-term relationships with clients, many of which have evolved into long-term friendships. The firm’s key to such relationships – some even multi-generational – is its core ethos of ethics, integrity, honesty, and trust. These qualities begin internally with team member relationships, and naturally extend to the working relationships with clients. Client success is, naturally, of utmost importance.

If you are interested in learning more about Ackman-Ziff and how you may become part of its culture, please email your resume to human resources.

Careers

Ackman-Ziff is the industry’s preeminent boutique real estate capital advisory firm. Hiring guidelines are stringent and expectations are high. Ackman-Ziff seeks individuals who are entrepreneurial, creative, driven, and possess a strong desire to overachieve. Candidates must also be able to work in a collaborative environment and have the highest level of integrity.

The firm not only prides itself on attracting the industry’s best talent, but retaining talent over the long-term. Ackman-Ziff principals have worked together for 20-plus years and the average tenure of team members is 10-plus years. We are looking to fill the following positions:

Current Openings

Ackman-Ziff Real Estate Group is currently seeking Managing Directors to originate structured financings across asset classes with a particular focus on debt, mezzanine and equity. Positions are based in New York, Miami, and Los Angeles.

Job Description and Responsibilities

Senior Originators will provide real estate capital markets advisory services to assist clients in securing the most appropriate capital solutions for their commercial real estate projects.

Responsibilities include:

  • Originate financing mandates across asset classes
  • Develop and maintain strong client relationships with owners and developers
  • Pre-screen transactions prior to the full underwriting and execution
  • Work closely with other members of the firm’s origination and execution teams
  • Manage the transaction process from origination to closing including negotiating term sheets, transaction and legal documents
  • Assist in preparing offering memorandum to prospective lenders and investors
  • Cross-sell Ackman-Ziff’s lines of business and expertise

Skills and Qualifications

  • 7 plus years of commercial real estate advisory, lending, or principal experience
  • Significant existing relationships and experience working with owners and developers
  • Ability to negotiate complicated term sheets and loan documents
  • Strong customer service beliefs with a history of winning repeat business
  • Superior deal evaluation and assessment skills
  • Entrepreneurial and an outside-the-box thinker with a desire to expand existing client base
  • Collaborative professional style that supports a collegial approach to meeting corporate objectives
  • Team player with the highest desire to succeed
  • High level of integrity and creativity with a hands-on, proactive style
  • Bachelor’s degree required and advanced degree a plus

Ackman-Ziff offers a competitive compensation structure and a full range of benefits.

Please send resumes and cover letter to hr@ackmanziff.com.

Ackman-Ziff Real Estate Group is currently seeking a highly qualified and motivated Director level professional to join our execution team in our New York office. The primary focus of the role will be the execution of highly structured debt and equity transactions.

Job Description and Responsibilities

The Director will be an integral member of the transaction execution team and will work closely with senior management to provide clients with the most attractive capital markets solutions available.

Responsibilities include:

  • Pre-screen transactions prior to the full underwriting and execution
  • Perform underwriting analysis using discounted cash flow analysis, income capitalization, leveraged IRR and comparable sales and cost analysis
  • Prepare lender presentations, offering memoranda and marketing materials including detailed market studies, cash flow analysis, transaction highlights and project descriptions
  • Present offering memorandum to prospective capital sources
  • Manage the collection of all required due-diligence materials
  • Work closely with senior management to assist in the execution of debt, mezzanine, and equity transactions
  • Review lender and investor term sheets, loan documentation, third party reports and miscellaneous documents relevant to transactions
  • Identify and research real estate property trends, debt capital markets and equity trends in order to provide clients and internal members with sophisticated market color
  • Attend client meetings and industry events to support the origination and execution of new opportunities
  • Develop and maintain strong client relationships with owners and developers

Skills and Qualifications

  • Five to seven years of experience in commercial real estate investing, capital markets brokerage, or commercial real estate debt lending
  • Advanced degree preferred
  • Financial analysis/underwriting experience
  • Strong communication skills to manage both internal and client expectations
  • Expert command of Excel, Word, PowerPoint; ARGUS experience a plus
  • Ability to work in a team environment while possessing excellent self-motivational and entrepreneurial skills
  • Ability to multi-task and prioritize between multiple projects

Ackman-Ziff offers a competitive compensation structure and a full range of benefits.

Please send resumes and cover letter to hr@ackmanziff.com.

Ackman-Ziff Real Estate Group is currently seeking a highly qualified and motivated Associate level Capital Markets professional, with a focus on Investment Sales, interested in developing a career in commercial real estate to join our New York office.

About Ackman-Ziff

Ackman-Ziff Real Estate Group is the industry’s preeminent boutique real estate capital advisory firm that offers a wide variety of cutting-edge commercial real estate capital markets financing solutions, including debt, equity and mezzanine financing, preferred and joint venture equity, sponsor equity and investment sales. In business for over 90 years, the privately held company is headquartered in New York City with offices in Boston, Miami, and Los Angeles. The firm is highly regarded within the industry for its integrity, creativity, and advocacy on behalf of its clients. Ethics and trust are the core ethos of the firm. Ackman-Ziff’s unparalleled commitment to aligning itself with its clients through a totally collaborative model differentiates it from other firms.

Job Description and Responsibilities
The Capital Markets Associate will be a member of the sales execution team working closely with senior management throughout all stages of the transaction life cycle.

  • Creation of written and quantitative analysis for new business pitches
  • Analyze new transaction offers
  • Conduct research on prospects
  • Offering memoranda preparation
  • Supervise the creation of marketing materials for presentations
  • Collaborate with and support other members of the sales team
  • Property tours
  • Due diligence

Required Qualifications

  • Financial analysis/underwriting experience including strong Excel skills
  • Strong communication skills including writing and research capabilities
  • Intimate knowledge of Excel, Word, PowerPoint; ARGUS experience a plus
  • Solid foundation of understanding leases, income and expense pro-forma, and valuation methodologies
  • Ability to work in a team environment while possessing excellent self-motivational and entrepreneurial skillsls
  • Ability to multi-task and prioritize between multiple projects with deadlines in the same time frame

Preferred Skills

  • Previous experience in investment sales, acquisitions, or capital markets
  • Basic understanding of rent regulation (rent stabilization, rent control and process to deregulate units)
  • Basic understanding of real estate tax abatements (421a, J51, MCI, ICAP, REAP and others)
  • Basic understanding of zoning (how to identify zoning districts, height restrictions, setbacks and other factors)

Ideal candidate will have experience with, and an appreciation for, precision, accuracy, diligence and thoroughness that is essential for client service business.

Ackman-Ziff offers a competitive compensation structure and a full range of benefits.

Please send resumes and cover letter to hr@ackmanziff.com.

Ackman-Ziff Real Estate Group is currently seeking applicants for its internship program for the Summer 2020 semester with the potential to extend for several semesters.

Skills/Qualifications

  • Enrollment in a top-tier finance or real estate graduate degree program
  • Demonstrated interest in learning more about real estate finance and capital markets
  • Strong writing skills with great attention to detail
  • Motivated self-starter
  • Advanced proficiency in Microsoft Office (Word, Excel, Outlook, and PowerPoint)
  • Adaptable to fast, ever-changing environment
  • Ability to multitask, prioritize, and maintain a flexible schedule
  • Experience with underwriting, modeling, and financial analysis preferred

Job Description and Responsibilities

  • Participate as a member of deal teams; interacting daily with associates and managing directors to create deliverables for clients and capital sources
  • Learn the many moving parts of a capital markets transaction from inception to completion
  • Exposure to owners/operators and capital sources
  • Learn about real estate capital markets, deal structuring, negotiation, and financial modeling
  • Exposure to underwriting to all asset classes, nationwide
  • Exposure to current market trends and participate in research opportunities
  • Sit in on meetings with senior management
  • Assist in the maintenance of the firm’s database of clients and capital sources

Ackman-Ziff offers a competitive compensation structure and a full range of benefits.

Please send resumes and cover letter to hr@ackmanziff.com