Two notable Chicago commercial real estate powerhouses are combining their efforts.
Sean Conlon, chairman of Conlon & Co., and Neil Freeman, chairman of Aries Capital, said they are combining their financing divisions to create Conlon Capital. Aries’ Mortgage Banking Group and Conlon’s Capital Markets Group will together create the full-service mortgage banking firm.
“This is a natural partnership for our companies and clients, and a clear case where one plus one equals much more than two,” Conlon said. “Both Aries Capital and Conlon & Co. are successful boutique firms known for our high-touch customized service and creativity.”
The combined effort will gear its debt placement, equity arrangement and advisory solutions to owners and developers across the country involved in commercial real estate, hotel and multifamily properties.
Conlon Capital will be led by Rushi Shah and Tom Reckley, who will work as chief executive officer and chief operating officer, respectively. Shah has worked since October 2015 as a president of LendingCap Commercial, a part of Aries Capital, and executive vice president of business development for Aries since June 2014. Tom Reckley most recently has been president of Capital Markets for Conlon & Co. since may 2015, with prior stops at Northern Trust, Bank of America and Greystone.
The new, combined company will be based at 401 W. Ontario in Chicago, with satellite operations in Los Angeles, Miami and Houston, and plans to continue to grow soon after.
“Like its predecessors, Conlon Capital will continue to protect our clients’ interests from start to successful closing,” Reckley said. “Now, however, we will be able to offer customers more options and the advantage of the broader knowledge and experience of our combined teams.”
Aries Capital will continue to operate its Urban Development Fund and other real estate ownership businesses, the company said. Conlon Capital will work as a subsidiary of the Conlon & Co. team, which already includes Conlon/Christie’s International Real Estate and Conlon Commercial.