Personnel News From USAA Real Estate, JLL, Merchants Capital

Ryan Krauch Joins USAA Real Estate Senior Management Team

Ryan Krauch

USAA Real Estate, San Antonio, announced Ryan Krauch, most recently a principal with Morgan Stanley’s Mesa West Capital, is joining its senior leadership team as Executive Managing Director and member of the investment committee.

Krauch served as one of the original principals at Mesa West Capital, a company that helped pioneer the commercial real estate credit fund space. He was active in all areas of the firm’s operations, including serving on the investment committee, valuation committee and management committee as well as raising billions of dollars from global institutional capital sources and spearheading critical strategic and operational initiatives, including the formation of innovative fund vehicles and separate accounts. In 2018, Mesa West was acquired by Morgan Stanley to become the exclusive real estate credit platform for Morgan Stanley Investment Management in the United States.

Prior to joining Mesa West in 2007, Krauch headed the joint venture equity acquisitions platform for Somera Capital Management, a value-add real estate equity funds manager.

JLL Capital Markets Adds Tony Nargi to Denver Office

Tony Nargi

JLL Capital Markets added Tony Nargi as a Managing Director within its multifamily housing debt and equity placement team in Denver.

Nargi has 15 years of real estate experience and a background in originating and managing multifamily housing real estate debt and equity transactions.

Prior to joining JLL, Nargi served as Senior Vice President and Regional Production Manager for KeyBank Real Estate Capital, focusing on commercial mortgage banking. He has experience working with the industry’s top lenders and investors, including originating and executing on loans through Fannie Mae, Freddie Mac, CMBS, debt funds and life companies. Before joining KeyBank, he was a Senior Director of Production and Sales for Freddie Mac Multifamily, where he led a team of 18 people, and was recognized as the No. 1 producer nationally for the company in 2015.

Merchants Capital Hires Paul Bernardin as Senior Vice President of Bridge and Construction Lending

Paul Bernardin

Multifamily financier Merchants Capital announced it hired Paul Bernardin as Senior Vice President of Bridge and Construction Lending.

With more than 20 years of experience in multifamily real estate, Bernardin has a deep understanding of credit and construction monitoring, specifically with Low Income Housing Tax Credit properties, which will not only support the existing debt platform but also the newest product offering at the firm, LIHTC equity syndication.

Based in Boston, Bernardin will be responsible for monitoring new construction and substantial rehabilitation loans for HUD, the government-sponsored enterprises and Merchants Bank of Indiana lending platforms. Prior to this role, Bernardin served as Senior Vice President, Director of Underwriting and Due Diligence at Boston Capital Corp. He managed a team of 14 underwriting professionals responsible for all properties closed by Boston Capital representing more than $1.2 billion in investment in affordable housing properties. Bernardin also previously held principal roles at RTM Consulting LLC and JPI Partners LLC.