Scott Watson Rejoins Johnson Capital, Looking Forward to Multifamily Deals

Irvine, Calif.--Scott Watson has rejoined Johnson Capital as a vice president and will be arranging debt and equity capital for a wide range of commercial and residential real estate.

By Dees Stribling, Contributing Editor

Irvine, Calif.–Scott Watson, formerly a director in Johnson Capital’s Irvine office, has rejoined the firm as a vice president after a stint as finance director for Mission Pacific Land Co. and will be arranging debt and equity capital for a wide range of commercial and residential real estate. That includes apartments and condos, and Watson says there’s renewed vigor in the financing of multifamily properties.

“Apartments remain the most highly sought-after property type for lenders,” Watson tells MHN. “We are currently working on a number of deals, for multifamily acquisitions and refinancing, that will close by the end of the year.”

Besides more of those kinds of deals next year, Watson also expects that there will be more financing for multifamily development in 2011–certainly more than during this year, when lenders have been skittish about lending for multifamily development, even as demand for apartments has grown in most markets. Next year, lenders will still be careful, he explains–that’s the “new” new normal–but not too careful, which is the “old” new normal.

“Lenders now believe that the multifamily market will continue to get better,” he says. “There will be capital available to qualified developers with good opportunities. We’re even seeing the re-emergence of CMBS, which is a good sign for the market.”

As finance director for Mission Pacific Land Co., an Inland Empire-based land development company, Watson was involved in managing public finance proposals, leading due diligence on potential acquisitions, and assisting in negotiations on the sale of residential and commercial land. Before working at Johnson Capital the first time, he began his career with CB Richard Ellis.

As a CRE investment bank, Johnson Capital’s services include debt placement and acquisition financing for permanent loans, construction financing and property repositioning, plus JV equity placement for individual assets, portfolios and discretionary funds. The company’s transactions have ranged in total funding from $1 million to over $300 million and have financed all property types.

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