Gramercy Capital strengthens its west coast operations.Gramercy Capital Corp. announced that it recently expanded its California presence with the addition of Michael Nagin and Philip Orosco. Hugh F. Hall, chief operating officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. of Gramercy, made the announcement. Gramercy has been an active lender in the Western United States Noun 1. western United States - the region of the United States lying to the west of the Mississippi River West Santa Fe Trail - a trail that extends from Missouri to New Mexico; an important route for settlers moving west in the 19th century since its initial public offering in July 2004 and opened its Los Angeles Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. office in July 2005. At June 30, 2006, approximately 21% of its $1.7 billion loan portfolio was secured by properties located in the western United States, primarily in California. Gramercy also owns an interest in a net lease office property in Pasadena, California Pasadena is a city in Los Angeles County, California, United States. As of the 2000 census, the city population was 133,936 and the 160th largest city in the United States. The California Finance Department estimates the Pasadena population to be 146,166 in 2005. . "Gramercy's West Coast platform is thriving, as evidenced by the addition of two top caliber hires," stated Hugh F. Hall, Chief Operating Officer of Gramercy. "Having Michael and Philip at the helm of our Los Angeles office ideally positions the Gramercy team to handle our strong deal flow, and to expand our business throughout the highly attractive investment markets of the Western United States." Nagin is joining Gramercy as vice president, West Coast Origination, and will manage the office. Prior to joining Gramercy, Nagin was a principal at Pacific Coast Capital Partners where he focused on sourcing debt and equity investments in the Western United States. Orosco, who will primarily focus on increasing Gramercy's Southern California Southern California, also colloquially known as SoCal, is the southern portion of the U.S. state of California. Centered on the cities of Los Angeles and San Diego, Southern California is home to nearly 24 million people and is the nation's second most populated region, investments, brings nine years of acquisition and debt experience to the Gramercy team from Maguire Properties. Nagin and Orosco succeed Jay Maddox, who is no longer with the company. Gramercy is a commercial real estate specialty finance company headquartered in New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. , and has a regional investment office in Los Angeles. |
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