Commercial Mortgage Banking Company Rose Hill Joins San Francisco’s Newmark | Business premises

By Jonathan D. Epstein

An Amherst commercial real estate lender has been acquired by one of the nation’s largest commercial mortgage banking companies.

The Rose Hill Group, founded 13 years ago and led by Daniel Monte, is now part of Newmark Realty Capital, an independent firm with regional offices across the country that manages more than 1,400 home loans totaling $13 billion in 40 states. This provides a long-term airstrip for Monte and Rose Hill, while expanding Newmark’s geographic footprint, operations and personnel.

Terms were not disclosed. Newmark will establish a loan production and servicing office in Amherst to manage upstate New York, while hiring Rose Hill’s four-person team. Monte will become the supervising broker for Newmark’s northeast loan production, while lender Thomas Grzebinski will be the senior head of production. Lender Nanette Carlevarini and analyst Jack Stelianou are also joining Newmark.

“It really is a wonderful opportunity for everyone,” Monte said. “Our lenders will be served in an entirely new and better way. They’ve taken over our employees, so they all have jobs and a greater opportunity for growth.”

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Monte has worked in the commercial real estate lending industry in upstate New York for more than three decades, including at Empire of America, Goldome and HSBC Bank USA. He started his own brokerage, but later merged it with another and left to join GMAC Commercial Mortgage, before leaving in 2006. It was there that he formed Rose Hill, which grown to handle $300-400 million in loans a year.

Monte, 61, said he was not looking to retire but traveled west frequently for personal and business reasons. He will have an office in Arizona and Amherst.

“Now is a good time for the lifestyle I need to move forward and to make sure I’m taking care of my people and my business,” he said. “I absolutely want to continue doing business for my clients here and for new clients. I love structuring business. I can do it, everyone can keep working, and Buffalo will bring in a big California company.

Founded in 1991, Newmark has 75 employees across the country and is rated by Standard & Poor’s as a leading commercial mortgage servicer – one of the few companies other than banks or insurers to carry this designation. Newmark and Rose Hill are also part of the Strategic Alliance Mortgage network of 20 companies nationwide that collaborate to share data and business, and Monte is the current president of SAM. That’s how he and Michael Heagerty, principal and chief financial officer of Newmark, got to know each other.

“You want to work with people you like and appreciate,” Monte said. “There are a lot of very good and very good mortgage bankers in this country, and Newmark is full of them, and my business is full of them.”

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