Faris Lee’s Irvine, California, offices | Images courtesy a representative of Faris Lee Investments

Personalities – November 2018: Faris Lee’s Jay Quinn Talks Capital Markets

Carrie Rossenfeld Personalities

From SoCal Real Estate’s November 2018 issue:

Jay Quinn

Irvine, California–based Faris Lee Investments is building upon its capital markets business nationally with its recent appointment of Jay Quinn as senior managing director, capital markets. Quinn joins Faris Lee having served as senior director of debt and equity origination at RealtyShares.

Prior to his role at RealtyShares, Quinn was president and CEO at Potomac Capital Group, LLC, a boutique commercial real estate and corporate advisory firm serving the commercial real estate and corporate-finance industries. While at Potomac, Quinn directed all structured-finance and loan-sale advisory services to middle-market and institutional commercial real estate clients. During that time, he was also responsible for sourcing, structuring, and closing both fixed- and floating-rate loans on all product types. His origination efforts resulted in more than 40 closed transactions totaling over $425 million in debt on multifamily, industrial, office, and retail properties.

Quinn’s experience also includes senior director of capital markets for Institutional Property Advisors, a Marcus & Millichap (M&M) company, specializing in multifamily, retail, office, and industrial finance. Prior to M&M, he led Cushman & Wakefield’s equity, debt, and structured-finance group in the Phoenix office as the managing director.

Quinn’s experience has focused on both debt and equity in commercial real estate, diversified investment operations, portfolio management, and structured finance. He has completed approximately $800 million of development transactions and approximately $3.4 billion in financing, capital-market transactions, and debt/equity placements. Furthermore, he has assisted in more than 500 note sales, participated in the disposition of more than $2 billion in assets, as well as completing over $9.1 billion in commercial-property restructuring and discounted payoffs.

In joining Faris Lee, Quinn has brought significant long-term relationships with national, regional, and local funding sources including, but not limited to, agency lenders such as Fannie Mae, Freddie Mac, regional and national commercial banks, CMBS lenders, life-insurance companies, debt funds, REITs, and private and public funds.

“My role in capital markets is as a supporting service to the investment-sales platform,” Quinn tells SoCal Real Estate. “We enable clients to maximize the value of their real estate holdings with a sound financing solution backed by market-smart capital. I have spent my entire career of 36 years in commercial real estate. I was attracted to the company because of its collaborative approach, its outstanding reputation, and the compelling opportunity to grow the capital markets platform at FLI and across the X-Team alliance.”

Faris Lee is a strategic partner with X Team Retail Advisors, an integrated retail specialized platform with offices in 40 major markets across the United States and Canada, encompassing more than 265 professionals. Quinn says he believes this partnership positions Faris Lee to grow and that the X Team’s affiliation will help build the platform.

“X-Team is a unique alliance of boutique retail advisers that gives Faris Lee and capital markets a national network. The strategic partnership with X-Team complements Faris Lee’s investment-sales expertise with X-Team’s local market expertise, tenant rep, and landlord leasing across the country, and capital markets will look to service the X-Team clients when needed.”

In this joint venture with Velocity under the X-Team partnership, Quinn says he believes that the combination of forces will expand the company’s service offerings moving forward. “Our JV with them brings us immediate access to Velocity’s significant market share in Arizona. Given their proven track record and reputation, we believe we have partnered with the best in Arizona. The partnership will be the model for all the X-Team companies as we roll the new platform out.”

As senior managing director, Quinn will focus on origination, structuring, and marketing of debt and equity finance transactions across the United States. In looking at where we are in the market cycle, Quinn says, “Sophisticated developers and investors value our ability to custom-tailor closings that deliver the smartest money at any point in a market cycle. They understand the importance of expert advice and access to the most competitive capital available. They know the value capital markets professionals bring to the transactions.”

Quinn adds that capital markets is one of the most compelling and complex elements of CRE investments and says that far too often, it is not strategically integrated into investment strategies and solutions, especially with private investors in middle-market transactions ranging from $10 million to $75 million. “To maximize value and manage risk, capital strategies need to be highly integrated into the investment thesis, be it finance, refinance, or structured capital solutions.”

In the coming year, from a capital markets perspective, Quinn says he believes that there are things that developers and investors should be aware of and track closely. “We expect to see issues like rate hikes, the impact of tax changes, and the ups and downs of the retail segment playing a role in the commercial real estate industry in 2018 and into 2019. We have seen unprecedented growth for several years, so we recommend a more long-term approach to investing to avoid a downturn near term.”