CO’s 25 Under 35: The Top Young Debt and Equity Professionals of 2019
BY THE EDITORS OCTOBER 1, 2019 9:00 AM
Jack Cortese, 29
Vice President, Capital Markets, D2 Organization
Jack Cortese grew up in Los Angeles, America’s second largest city, and works about half the time in the nation’s largest metropolis, New York City. But he’s most proud of the deals he’s cut and helped cut in smaller locales as co-leader of the debt and equity placement group at D2 Capital Advisors, a firm he joined about two and a half years ago.
“A lot of brokers can get big deals done in gateway markets,” Cortese said. “I get big, challenging deals done in secondary and tertiary markets.”
These deals include a complex $70 million bridge loan executed in late 2018 for developer EB Realty Management Corp.’s mixed-use plans along Philadelphia’s North Broad Street corridor.
As of September, he was also working on similarly large financing deals in Pittsburgh and Allentown, Pa., and worked on a $56 million loan to redevelop Philadelphia’s Metropolitan Opera House.
In total, Cortese has arranged more than $200 million in financing over the past two years, working on underwriting each deal, creating loan request packages for lenders, distributing those packages, fielding questions from lenders, obtaining and negotiating term sheets, and facilitating requests (and demands) from third parties. He also works with the development team at the umbrella D2 Organization on its own internal financing needs.
It’s a lot of moving parts. But that’s the allure for Cortese, who said commercial real estate’s capacity for deal-making drew him to the profession. The Philadelphia resident always liked the negotiating aspect of pretty much any business, so real estate was a perfect fit.— T.A.