CWCapital Asset Management (CWCAM), a subsidiary of CW Financial Services, has recently made several hires to key market sectors and expanded its services.
Reportedly, it has hired Burr Ault, Daniel Balkam, Patrick Connell, David Smith, Sam Stern and Geoffrey Wood, all named as vice presidents and senior asset managers operating out of CWCAM’s Washington, headquarters.
In addition, the firm has also expanded its operations to Baltimore, Dallas and Boston, broadening its reach in specific markets and into insurance, hospitality, multifamily and office property management and disposition.
Mr. Ault, will be responsible for the management, stabilization and disposition of retail properties. Most recently, he served as president of Ault Real Estate Group, specializing in REO workouts and real estate advisement for financial institutions.
Mr. Balkam joins CWCAM with over 20 years of experience in asset management, underwriting CMBS loans, workout and financing of commercial and multifamily real estate assets. Mr. Connell, vice president and senior REO asset manager, will be responsible for the management and disposition of a portfolio of Single Asset REO. Most recently, he served as vice president – regional asset manager for New Boston Fund.
Mr. Smith will focus on overseeing the operations, leasing, and disposition of assets in a portfolio of CMBS loans, primarily hotels. Most recently, he served as vice president of portfolio management for General Electric’s healthcare financial services. Mr. Stern recently served as principal of SBS Associates in New York. He has over 30 years of experience in the commercial real estate industry directing a full range of asset management services.
Geoffrey Wood joins CWCAM from Opus East, where he handled all construction financing, joint ventures and investment sales for the commercial real estate development firm. David Iannarone, president of CWCAM, said: “These enhancements to our staff not only help us now, as we see our portfolio expand, they also position us for future growth as we continue to be awarded third party assignments and position ourselves as the preeminent special servicer.”
