File photo / Tim Greenway
Josh Soley.
Updated: November 13, 2023
Maine Realty Advisors launches capital market division
Maine Realty Advisors has launched a capital markets division, which the Portland firm described as a necessary amenity in the commercial real estate market.
“This would be the first capital markets team in Maine,” said Josh Soley, founder and president of Maine Realty Advisors and a 2022 Mainebiz 40 Under 40 honoree. “These sorts of amenities exist and are popular in larger markets: Chicago, Boston, New York, Miami, etc. With the increase in volume of commercial transactions over the past five years, we are seeing this amenity becoming more and more necessary, particularly in the Greater Portland area.”
The division specializes in debt and equity structuring in commercial real estate transactions. It is headed up by Andrew Pease, who joined MRA this year after serving for 12 years as vice president of commercial lending for TD Bank and worked for a short stint in commercial real estate development in Charleston, S.C.
“This division will create an avenue that would enable and encourage out-of-state and foreign investors to work with local lenders to finance acquisitions,” he said.
Soley said his firm is the first commercial brokerage in Maine to bring on a capital markets specialist full-time.
Pease is now working on a number of transactions, including a self-storage facility in Lewiston and a multi-family conversion of an office building in Portland, said Soley. Clients in both deals, which haven’t yet closed, are out-of-state investors. Pease’s work includes finding the right financial structure with the lowest interest rate, which can save tens, and perhaps hundreds, of thousands of dollars.
Courtesy / Maine Realty Advisors
Andrew Pease.
“We take a more nuanced look and get banks to compete for clients,” he said. “Andy takes strategic approach and does a thorough analysis of where these terms need to be. It can also be lucrative for local developers who need extra capital. Andy can introduce them to capital partners.”
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