Former HSBC Bank Executive Glenn Grimaldi to Oversee Naftali Group’s Real Estate Lending Arm
NEW YORK, September 12, 2022--(BUSINESS WIRE)--Naftali Credit Partners, a subsidiary of Naftali Group – the leading and privately held, global real estate development and investment firm run by CEO and Chairman Miki Naftali – has appointed Glenn Grimaldi as its Chief Executive Officer. In his new role leading the company’s real estate lending arm, he will oversee credit investments for Naftali Group’s lending subsidiaries, including Naftali Shaked Partners II (NSP II), as well as originations, operations and asset management. Mr. Grimaldi will also manage the in-house credit team and serve on the NSP II’s credit committee.
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Glenn Grimaldi, CEO, Naftali Credit Partners (Photo: Business Wire)
Mr. Grimaldi comes to Naftali Credit Partners from HSBC Bank, one of the world’s largest financial institutions, where he served as Head of U.S Commercial Real Estate and Executive Vice President. In this role, Mr. Grimaldi managed a portfolio of over $20 billion of mortgage investments in over 45 states across the U.S., and in addition to his direct involvement in originations and approval of real estate investments, he oversaw a team of more than 65 mortgage professionals in all the U.S. gateway markets.
"I’m excited to join the Naftali team as the CEO of Naftali Credit Partners," said Mr. Grimaldi. "There is a greater need than ever for private debt funds to support borrowers across markets with a fast, efficient and creative debt solution. I’m looking forward to working with Miki and the team"
"As we look to build upon Naftali Credit Partners’ momentum and reputation as one of the strongest alternative lenders in major markets across the country, we’re excited to have Glenn join the team," said Miki Naftali, CEO and Chairman of Naftali Group. "His wealth of experience in all facets of real estate finance makes him an ideal leader to take Naftali Credit Partners to even greater heights."
An industry veteran with over 35 years of experience in commercial real estate finance, Mr. Grimaldi has participated in the financing of more than $100 billion of transactions and has overseen the syndication of over $50 billion in commercial real estate financings with more than 75 U.S. and international institutional partners. Mr. Grimaldi has expertise in all mortgage products and property types including acquisition loans, bridge and construction financing, permanent financing, note-on-note financings and secured and unsecured credit facilities for: apartment buildings, office buildings, for-sale condominiums, hotels, retail centers and large mixed-use project finance.
Throughout his career, Mr. Grimaldi has built long-term relationships with the brokerage community, international real estate owners, sovereign wealth funds, family offices, U.S. national and regional owners and developers of commercial real estate. He has a strong track record of setting risk strategy, underwriting and due diligence standards, and establishing and maintaining strong regulatory discipline with U.S. and other regulatory authorities. Mr. Grimaldi holds an MBA in Finance from Indiana University’s Kelley School of Business.
About Naftali Credit Partners
Naftali Credit Partners (NCP), a subsidiary of Naftali Group, is an alternative lender focused on transitional real estate assets. NCP lends on projects requiring flexible capital in illiquid segments of the market that traditional banks are less likely to finance due to increased regulation, transaction complexity or execution requirements that are better suited for an integrated real estate firm. NCP’s goal is to provide borrowers with a seamless and competitive execution while providing its investors with superior risk-adjusted returns and significant downside principal protection. Visit: https://naftaligroup.com/naftali-credit-partners/
About Naftali Group
Naftali Group, a privately held global real estate development and investment firm based in New York City, has a prestigious track record, having led some of the most significant developments and landmark restorations. Founded and led by Miki Naftali, Naftali Group is highly specialized in identifying and acquiring undervalued properties in premier geographic areas with strong potential growth while maximizing the value of unique and irreplaceable assets. Naftali Group pursues strategic acquisitions and continuously grows its extensive portfolio of new development condominiums, income-producing, mixed-use properties and other assets. Through innovation and discipline, Naftali is recognized as a leading developer with a current and past portfolio comprised of more than 37 projects encompassing more than $12 billion in total value. Visit: https://naftaligroup.com/
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