Mr. Stewart began his real estate career at age 18, renting apartments to help pay for college in Boston, Massachusetts. As someone who has learned the business from humble beginnings, he has gained a wealth of experience at all levels of a real estate organization. He has used his acquired knowledge to consistently rank among America’s most productive mortgage bankers. A number of the nation’s leading developers and institutional investors count on him for his market knowledge and intuitive sense of which strategic alternative is best for a given situation.
Since he took the reins of the company in March of 2000, he has increased the company’s servicing portfolio fivefold (to $2.1 billion), and manages the company’s relationships with its 15 institutional investors. The company has been remade on his watch and, he notes, has become: “A company that blends the vast experience of our seasoned professionals with a forward thinking approach that will create value for the institutions and developers we choose to represent. Most firms today emphasize either technology or relationships. We are poised to benefit greatly from synergizing the two.”
He has also led the way in starting their affiliate, Channel Real Estate Investment Management, whose affiliate entities have provided equity and mezzanine capital in 41 projects since their first closing in Feb, 2010. To date, all of Channel’s investments have been profitable and some have achieved equity multiples of 10x or more. Channel’s principals invest in every investment they make in order to align their interests with their investors.
Another affiliate, Cronheim Hotel Capital has financed over 50 hotels in the past 3 years in 19 states They have become one of the most accomplished providers of hospitality debt nationwide.
Mr. Stewart has written for Institutional Investor and National Real Estate Investor, as well as many other local and national publications.
Prior to working at Cronheim, he worked at Donald Zucker Company, one of Manhattan’s most prolific and successful vertically integrated multifamily developer/owners from 1987 to 1994 and Donaldson, Lufkin, & Jenrette (which later merged into Credit Suisse) from 1984 to 1986.