Churchill Real Estate Holdings

Churchill
Real Estate
Holdings

 

OUR VISION

Established as a vertically integrated firm in 2014 by industry professionals with substantial operational expertise in development and property management, Churchill Real Estate Holdings has evolved into an alternative real estate investment platform offering short term debt products and equity oriented solutions to institutional and private clients. Prior to its inception, Churchill's founding partners had completed over $5 billion of debt and equity transactions across New York City.

 

Churchill's adept team appreciates the multifaceted investment considerations of each transaction throughout its life-cycle. With a focus on well-located, downside protected real estate as well as transactions with risk-mitigated capital structures, we invest in both equity and debt positions of a capital stack. Our team follows an astute selection process, methodically evaluating the various components of each deal, including its basis, risk-return parameters, and sponsorship. From identifying potential opportunities and making the initial acquisition, to re-positioning and development, and finally stabilization and disposition, we ensure that every Churchill investment is the product of a discerning hands-on approach.  

 

Our principals take pride in building lasting relationships with owners, borrowers, borrower-advisers, and lending partners. With extensive experience in development and asset management, an eye for creatively unlocking capital-driving value, and demonstrated structuring capabilities and risk mitigation strategies, Churchill Real Estate Holdings established a strong market presence and continues to execute successful deals across various asset classes in New York City.

 

 

 

investment parameters

 

investment criteria and strategy

Since inception in September 2014, Churchill has successfully invested ~$1 billion, focusing on well-located, downside-protected real estate as well as transactions with risk-mitigated capital structures. 

Churchill is extremely selective in choosing our transactions, and evaluate numerous factors including last dollar basis and sponsorship. 

All of our investments must meet a 2-tiered mandate that includes capital preservation and risk-adjusted total returns.

 

PARAMETERS

$5-100 million

1-5 year loans

Land, transitional, bridge, pre-development,
construction loans

 

STRUCTURES CONSIDERED

First or second lien or A/B structures

Mezzanine

Preferred equity

Note-on-note financing

Repurchase facilities

Condo-inventory loans

Earnest money (good faith) deposits

 

 

INVESTMENT  SeRVICING AND MONITORING

Churchill’s existing infrastructure has the capacity to monitor and service “high touch” construction loans, as well as other bridge and transitional loans.

Following successful transaction execution, our in-house team conducts monthly site visits to confirm that project funding accurately represents completed project work. 

As part of our rigorous asset-management process, we provide detailed periodic reporting on all investments. By personally overseeing our assets, Churchill can ensure scheduled payoffs or offer alternate resolution strategies as necessary.

 

LOAN SERVICING

Loans are serviced in-house by asset/project managers and construction accountants.

Churchill regularly evaluates market conditions on both the revenue and cost side and works with
borrowers to address re-balancing provisions on a timely basis.

 

LOAN MONITORING

Monthly payment requisitions are reviewed for accuracy, appropriateness and conformance to loan
documentation.

Review of loan reporting documents, payment requisitions, the Borrower’s affidavit and other materials
provides regular affirmation that loans are “in-balance.”

 

 

 

our team

 

justin ehrlich

founding partner

Justin Ehrlich is a founding partner of Churchill Real Estate Holdings. Most recently, Justin was a partner at VE Equities, where he executed over $1 billion of high profile development transactions. Justin’s notable ground-up development projects in New York City include: 471 Washington Street, 1 North Moore Street, 11 North Moore Street, 157 Hudson, 250 Bowery, 290 West Street, 257 Water Street, 13 Laight Street, and 53 Beach Street. 

Justin holds a B.A. in Business Administration from Boston University School of Management and earned his Graduate Certificate in Real Estate Finance and Investment from NYU.


sorabh maheshwari

founding partner

Sorabh Maheshwari is a founding partner of Churchill Real Estate Holdings. Prior to Churchill, Sorabh was a principal at Onex Real Estate, a multi-billion dollar private equity firm located in New York. There, he had complete responsibility for acquisitions, dispositions, and asset management of the Onex rent-regulated housing portfolio starting in 2010. Sorabh ran the Onex Real Estate High Yield Debt Fund, which invested in distressed debt opportunities and was one of Onex Real Estate’s top performing investment vehicles. He has been involved in over $500 million of transactions in the New York multifamily sector including equity investments, recapitalization, and distressed debt purchases. Before joining Onex, he worked as an investment banker at Credit Suisse and DLJ in the real estate investment banking group.

Sorabh completed his undergraduate education at the University of Maryland where he graduated summa cum laude with a B.A. in Economics and a B.S. in Finance. He received an MBA from Columbia Business School and an MBA from London Business School.
 


Gary podell

founding partner

Gary Podell was most recently a partner in Metropolitan Realty Group LLC, a company that specialized in the acquisition and development of a unique portfolio of 1,600 units across numerous affordable housing projects. Gary and his partners aggregated a portfolio that exceeds $300 million of equity value. Prior to Metropolitan, Gary was an attorney specializing in Real Estate Tax and Appraisal Litigation.
 


jake borden

vice president - acquisitions

Jake Borden joined Churchill Real Estate Holdings in 2017 and assists in sourcing and evaluating debt and equity acquisition opportunities, asset management, investment due diligence, and investor relations. Jake previously worked as an investment analyst for the Global Real Assets group at JPMorgan, where he performed asset management for multi-family, office, and mixed-use real estate investments throughout the US. He also focused on the procurement of real estate financing for new acquisitions and ground-up development opportunities. In this role, Jake developed financial models and valuations, completed leasing and capital projects analyses, collaborated with senior managers to implement and execute business plans, and assisted in managing the disposition process. 

Jake graduated from Syracuse University with a BS in Information Management and a minor in Economics.


mark lansman

vice president - acquisitions

Mark Lansman joined Churchill Real Estate Holdings in 2014, and assists in the sourcing and execution of both debt and equity acquisition opportunities. Since joining Churchill, Mark has been involved in over $400 million of credit transactions. Previously, he was an associate at Rosin & Associates, where he performed commercial real estate consulting, underwriting, and valuation services for both institutional and retail clients. Mark was a summer associate at L+M Development Partners, working on L+M’s affordable housing private equity fund “NYAH”, and an analyst at Enterprise Asset Management, a family office where he focused on acquisitions and asset management.

Mark received a Bachelor of Business Administration degree in Finance from the George Washington University School of Business and an MBA from the Leonard Stern School of Business at New York University in 2015.


josh lipkowitz

vice president - finance

Josh Lipkowitz joined Churchill Real Estate Holdings in 2018, and is responsible for all portfolio and corporate financial activities of the firm. Before Churchill, Josh was the Real Estate Accounting Manager at Taconic Capital Advisors where he played an active role in all financial reporting requirements for real estate funds totaling over $350 million in capital commitments. Josh was also a portfolio accountant at Clarion Partners, where he was responsible for financial reporting of portfolio's with more than $1 billion AUM. Josh started his career in public accounting as part of the audit services practice at WeiserMazars.

Josh received a Bachelors of Science degree in Finance from SUNY Buffalo, a Masters in Accounting from Zicklin School of Business at Baruch College and is a Certified Public Accountant (CPA) in the State of New York.
 


paul F. pani

managing director,
head of capital markets

Paul F. Pani joined Churchill Real Estate Holdings in 2018 and acts as the Managing Director, Head of Capital Markets, bringing over 25 years of expertise and knowledge in a successful real estate and capital markets career. Most recently, Paul worked at Kennedy Wilson, as the SMD of their Fund Investment Group. Previously, he served as Senior Vice President for Iridian Asset Management, where he was responsible for client service and business development for consultants; endowments and foundations; and institutional and private clients. Prior to Iridian, he worked at Virtus Investment Partners Inc. and just prior at Cole Capital, where he provided strategic direction and developed business initiatives to institutional investors, family offices, RIA's and private wealth advisors. Paul also was Director of Institutional Markets at Emerging Global Advisors. Among his earlier positions, he also served as Director of Consultant Relations with Natixis Global Associates and John A. Levin & Company.

Paul studied economics at the University of Colorado

 

vladimir sekiguchi

Analyst

Vladimir Sekiguchi joined Churchill Real Estate Holdings in 2017. He assists in due diligence, underwriting, project management, and billing/servicing.

Vlad received a Bachelor of Arts degree with a major in Economics and a minor in Data Analytics from Wesleyan University.