First Boston names head of West Coast real estate.First Boston names head of West Coast real estate At the tender age of 32, David L. Ash earlier this month took over as head of West Coast real estate for one of the world's largest and most prestigious investment banking firms -- First Boston Corp. In his new post, Ash is responsible for all the firm's real estate deals in the seven Western states. Ash, a San Francisco Bay area “Bay Area” redirects here. For other uses, see Bay Area (disambiguation). The San Francisco Bay Area, colloquially known as the Bay Area or The Bay native, spent the last five years overseeing the Southland real estate operations of Eastdil Realty Inc., a real estate investment banking firm. But the ambitious young UCLA UCLA University of California at Los Angeles UCLA University Center for Learning Assistance (Illinois State University) UCLA University of Carrollton, TX and Lower Addison, TX grad decided more opportunity awaited him at a full-service firm. "First Boston has 25 full-time real estate professionals around the world," Ash explains from his new 22nd-floor office at 333 S. Grand Ave. "But the firm also has a full line of other investment banking services not available at Eastdil." Ash can ash·can or ash can n. 1. A large, usually metal receptacle for trash. 2. Slang A depth charge. 3. Slang A powerful cylindrical firecracker. now use First Boston investment bankers to underwrite real estate investment trusts, or securitize real estate debt and sell it to First Boston's trading desk. The move to First Boston also opens up access to the firm's huge stable of elite corporate clients. For corporate landlords, Ash can handle sale-leasebacks and refinancings. And for corporate tenants, he can handle build-to-suits or lease transactions. Areas of primary focus for now will be RTC See real time clock. and REO reo Noun NZ a language [Maori] transactions, he says. RTC, or Resolution Trust Corp., transactions involve the federal government's liquidation of billions of dollars worth of real estate seized from failed savings & loans. REO, or real estate owned Real Estate Owned Property owned by a lender - usually a bank - after an unsuccessful sale at a foreclosure auction. This is common because most of the properties up for sale at these auctions are worth less than the total amount owed to the bank: the minimum bid in most , transactions involve lenders selling foreclosed properties. PHOTO : Ash: Only 32 and in charge of land deals in seven western states |
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