CA RE License #01902238
Craig Sherman is a senior managing director, senior note sale advisor, with Newmark Knight Frank. Mr. Sherman’s responsibilities include overseeing non-performing loan disposition for banks and special servicers, including overseeing underwriting, valuation, FAS 114 and 5, collateral valuation and the disposition process to settlement.
Mr. Sherman has vast experience in addressing complex real estate challenges from loan workouts, receiverships and portfolio purchases in the RTC era, to the analysis and financing of office buildings, apartments, hotels, mixed-use and residential projects over the past two decades. Mr. Sherman has underwritten the entire capital stack on virtually every type of real estate asset on behalf of lending institutions, owners, investors, creditors and borrowers on three continents. Worldwide NPL experience exceeds $90.0 billion in face value.
Mr. Sherman led due diligence, including overseeing several teams of consultants, valuing for acquisition and financing non-performing loan portfolios in Japan (2,100 loans, $50 billion face, including the first securitization of non-performing loans in Japan), Korea (10,000 loans, $2.7 billion face including the first KAMCo (South Korea’s “RTC”) non-performing loan sale), China (1,000 loans, $2.0 billion face, including first sale of Chinese non-performing loans to a consortium of US investment banks), Taiwan (500 loans, $500 million face), Thailand (20,000 loans, $20 billion face), Italy (40,000 loans, $3.5 Billion face , including the first securitization of non-performing loans in Italy) and Germany (2,000 loans, $3 billion face). France (125 loans, $110.0 million of book balance). In addition; consulted on the acquisition out of bankruptcy on a $10.0 billion retail company in Japan and trained the Finnish “RTC” (Arsenal Asset Management) in the valuation of real properties and performing/non-performing loans using FASB 114 methodology.
Mr. Sherman graduated Magna Cum Laude from National University with a bachelor’s degree in Computer Science.