JLL Capital Markets announced that it has appointed Senior Managing Directors Sean Ryan and Will Sledge as co-heads of the national Loan Sales platform.
Former loan sales platform co-leaders Gerard Sansosti and Wally Reid will continue to lead the national Debt Advisory and Corporate Finance platform.
Ryan and Sledge bring a combined 30 years of experience to the business with extensive work sourcing, evaluating, structuring and executing loan sales, distressed debt and REO portfolio sales opportunities. Their client base includes special servicers, life companies, GSE’s and various other financial institutions requiring assistance with the valuation and sale of performing, sub and non-performing commercial, C&I, consumer, ELF, residential mortgage loans and CRE REO.
“Over the last 20 plus months, we’ve seen a significant uptick in client needs in the loan sale sector of the industry closing over 50 unique transactions and over $1.5 billion of unpaid principal balance,” said Sansosti. “As such, we felt it was the right time to formally designate leaders to the space. Ryan and Sledge are consummate professionals and bring a wealth of loan sales and REO knowledge to service our clients growing demand for this type of product.”
The pandemic accelerated trends that were already creating disruption and dislocation in the real estate space. As a result, the disruptive environment created a misalignment for holders of longer-term debt capital on what were becoming much more fluid assets. The evolution cycle of real estate is shortening and trends in the real estate space in general are falling in and out of favor more quickly today than before. Whether it is the new work from home phenomenon affecting office space, online retailing or the downsizing of brick-and-mortar retail needs, our clients are finding themselves in certain situations holding mispriced risk in their portfolios. Coupled with the abundance of dry powder available looking for opportunities, it has allowed many of our clients to sell off that risk and reinvest in what they feel are better risk adjusted opportunities.
“I’m looking forward to progressing the growth of the loan sales business and alongside Will and the rest of the team, which includes Tom Hall, Brett Rosenberg and Kyle Kaminski, who have helped to elevate our group to one of the best in the business,” added Ryan.
“Under the leadership of Gerard Sansosti and Wally Reid, JLL has invested considerable resources to grow our bench with the most talented advisors in the asset sale space,” Sledge added. “Today, our collective team offers best-in-class service to our clients across the spectrum of real estate. While in some ways this moment marks a ‘changing of the guard’, Sean, I and other members of the team will continue to advance the growth initiatives Gerard and Wally set in motion.”
Ryan, who is located in Dallas, joined JLL through the merger with HFF in 2019 and has completed more than $5 billion of assignments through his career. Prior to starting in commercial real estate, he played for six seasons in the National Football League after being drafted by the Dallas Cowboys in 2004.
Sledge, who offices out of New York City and Mobile, Alabama, has executed over $10 billion of assignments during the course of his career. Prior to JLL, he spent 17 years at Mission Capital Advisors where he was head of business development and execution.