ACORE Capital

A lender focused on CRE Value-Add Loans. Finance company manages separate accounts. Originates Bnotes, mezzanine loans, stretch loans and preferred equity on high-quality properties in the U.S. Target gross IRR: 8-12%.

Real Estate Specialization
Multifamily
Office
Industrial
Retail
Land/Development
Residential Income
Hotels
Student Housing
Investment Type
Debt
Multi-property portfolios
Investment Style
Value-add
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Managing Partner

Warren de Haan

Warren de Haan is a founder and one of the four Managing Partners of ACORE, the Head of Asset Originations and is a member of ACORE’s investment committee. Mr. de Haan has 21 years of experience in the commercial real estate finance industry and capital markets. Prior to ACORE, he was the Chief Originations Officer of Starwood Property Trust (NYSE: STWD), a public mortgage REIT, from October 2010 to September 2014. Prior to STWD he, along with Mr. Fellows, Mr. Tokarski and Mr. Ward, founded Countrywide Financial Corporation’s commercial real estate finance business that was launched in 2004 and grew into one of the largest lending platforms in the United States focused on middle markets, closing over 1250 commercial real estate loans totaling over $11.5 billion. He was co-head of loan originations, overseeing the expansion the division’s footprint to 15 offices across the United States. In 2001 Mr. de Haan was a founding partner of Coastal Capital Partners, LLC, a firm focused on acquiring distressed debt and advising clients on restructurings. Prior to Coastal Capital, he was a member of a large loan group in Nomura’s commercial real estate finance division in NYC. Mr. de Haan received a B.S. degree from the Cornell School of Hotel Administration. He also graduated from Hotel Institute Montreux, Switzerland, where he obtained his Swiss Hotel Diploma and American Hotel and Motel Association Diplomas.

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Managing Partner

Boyd Fellows

Boyd W. Fellows is a founder and one of the four Managing Partners of ACORE Capital. He oversees capital market activities, marketing and is a member of ACORE’s investment committee. Mr. Fellows has 34 years of experience in the commercial real estate finance industry and capital markets. Prior to ACORE, he was President and a member of the board of directors of Starwood Property Trust (NYSE: STWD), a public mortgage REIT, from October 2010 to September 2014. Prior to STWD he, along with Mr. de Haan, Mr. Tokarski and Mr. Ward, founded Countrywide Financial Corporation’s commercial real estate finance business that was launched in 2004 and grew into one of the largest lending platforms in the United States focused on middle markets, closing over 1250 commercial real estate loans totaling over $11.5 billion. In 2001 Mr. Fellows was a founding partner of Coastal Capital Partners, LLC, a firm focused on acquiring distressed debt and advising clients on restructurings. Prior to Coastal Capital, Mr. Fellows was a partner at Thomas Weisel Partners and the CEO of Scudder Weisel Capital, a joint venture with Zurich Insurance from 1999 through 2001. From 1994 to 1998, Mr. Fellows was one of the key senior executives who led Nomura’s commercial real estate finance division that is credited with many structural innovations that helped shape the commercial mortgage backed securities (CMBS) business. In 1998, Mr. Fellows was named Co-CEO of the division. Prior to Nomura, Mr. Fellows worked at Morgan Stanley from 1987 through 1994, where he was the co-head of the non-agency mortgage trading desk and before that he worked at Bank of America as a derivative securities and currency trader in the United States, Europe and Asia from 1983 through 1987.

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Managing Partner

Chris Tokarski

Chris Tokarski is a founder and one of the four Managing Partners of ACORE and the Chairman of ACORE’s investment committee. Mr. Tokarski has 23 years of experience in the commercial real estate finance industry and capital markets. Prior to ACORE, he was the Chief Credit Officer of Starwood Property Trust (NYSE: STWD), a public mortgage REIT, from October 2010 to September 2014. Prior to STWD he, along with Mr. Fellows, Mr. de Haan and Mr. Ward, founded Countrywide Financial Corporation’s commercial real estate finance business that was launched in 2004 and grew into one of the largest lending platforms in the United States focused on middle markets, closing over 1250 commercial real estate loans totaling over $11.5 billion. Mr. Tokarski was responsible for credit approval and oversight of underwriting, risk, and asset management processes. In 2001 Mr. Tokarski was a founding partner of Coastal Capital Partners, LLC, a firm focused on acquiring distressed debt and advising clients on restructurings. From 1995 to 1999 Mr. Tokarski was a Director in the commercial real estate finance division at Nomura where he co-managed commercial mortgage credit, underwriting and securitization. Prior to joining Nomura, Mr. Tokarski worked at Bear Stearns from 1993 to 1995 as an analyst in the commercial real estate division. Mr. Tokarski earned a B.A. degree from Brown University with a double concentration in Business Economics and Organizational Behavior and Management. Chris is a licensed real estate broker in California.

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Managing Partner

Stew Ward

Stew Ward is a founder and one of the four Managing Partners of ACORE. He oversees capital market activities, operations and is a member of ACORE’s investment committee Mr. Ward has 35 years of experience in the commercial real estate finance industry and capital markets. Prior to ACORE Capital, he was the Chief Financial Officer of Starwood Property Trust (NYSE: STWD), a public mortgage REIT, from October 2010 to September 2014. Prior to STWD he, along with Mr. Fellows, Mr. de Haan and Mr. Tokarski, founded Countrywide Financial Corporation’s commercial real estate finance business that was launched in 2004 and grew into one of the largest lending platforms in the United States focused on middle markets, closing over 1250 commercial real estate loans totaling over $11.5 billion. Mr. Ward was responsible for all capital markets activities and risk management. In 2001 Mr. Ward was a founding partner of Coastal Capital Partners, LLC, a firm focused on acquiring distressed debt and advising clients on restructurings. From 1995 to 1999 he led the construction lending business and risk management of Nomura’s commercial real estate finance division, and ultimately co-managed the division. Prior to Nomura, Mr. Ward spent nine years in the fixed income division at Morgan Stanley where he was involved in the creation of the investment bank’s residential mortgage backed securities risk control arbitrage activities, distressed commercial mortgage acquisition and sales as well as establishing their commercial mortgage securitization structuring and trading platform. Mr. Ward received a B.A. degree in Economics from the University of Colorado and a M.B.A. degree from Carnegie-Mellon University.

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Analyst

Jake Adler

Jake Adler is an analyst who joined ACORE Capital in January of 2016. He is based out of the Los Angeles office and works predominately on the originations team. Prior to joining ACORE, Jake graduated from the University of Southern California with a Bachelor of Science in Real Estate Development.

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Managing Director

Josh Katzin

Josh Katzin is a Managing Director and is responsible for originations in the Western U.S. for ACORE Capital. Mr. Katzin was previously Vice President of Acquisitions for Starwood Capital Group, where he was responsible for sourcing and executing direct acquisitions and joint-ventures across asset types in the Western U.S. Before that, he was Head of International Real Estate Investments for King Yip Group, a family office based in Hong Kong. Mr. Katzin started his career in real estate with Och-Ziff Capital Management, first in the firm’s Real Estate Private Equity group in New York and then covering real estate investments for the firm’s Special Situations Group in Hong Kong. Mr. Katzin is a graduate of Harvard Business School, Harvard Law School, and Harvard College.

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Executive Director

Leon Wang

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Assistant Vice President

Clark Bond

Clark Bond joined ACORE Capital in 2017 as an Assistant Vice President on the Credit and Underwriting Team in San Francisco, CA, where he assists in the originations, structuring, diligence and closing of floating rate, construction and bridge loans. Before joining ACORE, Mr. Bond was a Vice President on the Originations Team at Deutsche Bank (DB) for over six years, splitting time between New York and San Francisco. During his tenure at DB, Mr. Bond worked on both large loans and conduit transactions, underwriting and closing approximately 56 deals totaling $3.5 billion across all asset types in various markets. Prior to DB New York and San Francisco, Mr. Bond was an Analyst and Associate at DB in London working within the Structured Finance Group focusing on European Real Estate and Leveraged Financed transactions. Mr. Bond graduated with first class honors from the University of Dundee in Scotland earning a degree in Bachelor of Finance and Accountancy. Mr. Bond is also a qualified Chartered Accountant with the Institute of Chartered Accountants of Scotland.

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Analyst

Jason Records

Jason Records is an analyst on the Asset Management team in ACORE Capital’s Dallas office. Prior to joining ACORE, Mr. Records worked in commercial mortgages at Prudential Financial, monitoring and analyzing securitized loans from various capital sources. He was hired following a successful internship with Prudential the previous summer. Mr. Records earned a Bachelor of Business Administration – Finance degree from Texas A&M University’s Mays School of Business.

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Assistant Vice President

Jordan Heller

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Managing Director

Lawrence Taylor

Lawrence Taylor is a Managing Director and Senior Counsel at ACORE. He oversees the legal affairs of the company as well as supervising the legal aspects of originating, structuring and negotiation of loan originations. Prior to joining ACORE, Mr. Taylor was Assistant General Counsel at Starwood Property Trust, Inc., (NYSE:STWD), a public mortgage REIT, from 2014 to 2015, responsible for structuring and negotiating loan originations. Prior to STWD, Mr. Taylor practiced law in New York at Fried, Frank, Harris, Shriver & Jacobson LLP and Shearman & Sterling LLP. Mr. Taylor is a graduate from the University of Ottawa School of Management and the University of Toronto Faculty of Law.

HFF

Key Focus Areas
Lending
Geographical Area
Mapped Location