Ted Martell, co-founder of Maverick Real Estate Partners, discusses Maverick's market share in the New York City distressed real estate debt market.
0:00 / 0:06exact quote · 6.0s
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“Maverick has become the number one buyer of non-performing loans secured by real estate in New York City.”
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More from Ted Martell
PredictionOpen · timeframe Nov 2028
Martell: The next five years represent the opportunity of our careers
“It's definitely billions of dollars. I believe this is the opportunity of our careers.”
Ted MartellNov 9, 2023▶ 40:35Ted Martell – Empty Rooms: Commercial Real Estate Non-Performing Loans in NYC at Maverick Real Estate (EP.349)
Opinion
Martell: Distressed borrowers often exploit relationship leniency from banks
“I think borrowers many times will abuse that relationship with their banks.”
Ted MartellNov 9, 2023▶ 22:23Ted Martell – Empty Rooms: Commercial Real Estate Non-Performing Loans in NYC at Maverick Real Estate (EP.349)
Disclosure
Martell: Maverick pays no bonuses, offering above-market salaries and carry
“A lot of firms in the real estate space have more of an eat what you kill structure, but we've decided we don't want to pay bonuses to employees at all. Instead, we pay them a high base salary, and their comp exceeds market comp, and they have the ability to i…”
Ted MartellNov 9, 2023▶ 27:19Ted Martell – Empty Rooms: Commercial Real Estate Non-Performing Loans in NYC at Maverick Real Estate (EP.349)
Insight
Martell: Deadlock in 50-50 partnerships is a tremendous benefit
“Many people worry about 50, 50 partnerships when you have a deadlock. Well, if you have deadlock, you can't proceed. And so you need to figure out a way to solve that problem. And so in the early days, we would talk about it very calmly. You have to check your…”
Ted MartellNov 9, 2023▶ 28:34Ted Martell – Empty Rooms: Commercial Real Estate Non-Performing Loans in NYC at Maverick Real Estate (EP.349)
Insight
Martell: Middle-market NPLs lack systematic capital competition due to complexity
“That middle market space, there's a tremendous amount of opportunity for us to play in it because it's complicated, because the material is complex, and because there's not a lot of other capital pursuing those opportunities, not in a systematic way the way we…”
Ted MartellNov 9, 2023▶ 16:47Ted Martell – Empty Rooms: Commercial Real Estate Non-Performing Loans in NYC at Maverick Real Estate (EP.349)
“Deploying both of these things at the same time is the most successful means towards facilitating a fast resolution. In other words, you're talking to them, but you're also enforcing your legal remedies.”
Ted MartellNov 9, 2023▶ 20:48Ted Martell – Empty Rooms: Commercial Real Estate Non-Performing Loans in NYC at Maverick Real Estate (EP.349)
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