M&T Realty Capital Corporation Appoints New CEO and Announces Other Organizational Changes
National Production Managers and Life Company Platform Manager are Among Other Key Appointments Driving the Next Phase of Business Growth
BALTIMORE, Jan. 23, 2024 /PRNewswire/ -- M&T Realty Capital Corporation (M&T RCC), a wholly-owned subsidiary of M&T Bank specializing in providing competitive financing nationwide for multifamily properties, commercial income properties, healthcare facilities, and other property types, announces a series of organizational changes designed to position the business for continued growth and expansion. Michael Edelman, currently serving as President, will succeed current CEO Michael Berman, who will transition to the role of Executive Advisor. Both executives will continue to report to Tim Gallagher, M&T Bank Head of Commercial Real Estate, and Berman will remain a member of M&T RCC's board.
"Michael Edelman's experience and leadership will be instrumental in driving our initiatives within M&T RCC," said Gallagher. "In his new role as Executive Advisor, Michael Berman will continue contributing invaluable insight, driving M&T RCC's continued success.
Edelman joined M&T in 2016 as M&T RCC Agency Product Manager and has been in the role of President since February 2022. He is an experienced CRE finance executive with over 25 years of mortgage banking experience and has been involved in more than $6B of transactions throughout his career.
"I am honored to lead this team as we expand access to capital markets and grow our strategic partnerships," said Edelman. "M&T RCC has seen significant success under Michael Berman's leadership, and I look forward to our continued work together and exploring new opportunities in the next phase of our business."
Berman joined M&T RCC in 2019 and has transformed the M&T commercial mortgage real estate business. Under Michael Berman's leadership, M&T RCC has seen four years of sustained growth, including new strategic arrangements such as the alliance with Marcus and Millichap.
Additional leadership appointments include:
- Mark Gould and Joe Pizzutelli have been named as Co-Heads of M&T RCC National Production. Gould will manage the organization's relationships with Freddie Mac and Fannie Mae, oversee M&T RCC's strategic partnership with Marcus and Millichap, work with M&T Bank Institutional client relationships, and spearhead new growth strategies and partnerships. Pizzutelli will focus on expanding current M&T Bank Institutional Commercial Real Estate (ICRE) client relationships, as well as deepening and developing new partnerships within M&T Bank's ICRE, Debt Capital Markets, and Investment Banking teams.
- Kevin Collins has been named M&T RCC Life Company Platform Manager. In his new role, Collins will be responsible for overseeing Life Company production, managing our relationship with numerous capital sources, and continuing to grow the Life Company platform. Don Pettit, the previous Platform Manager, will remain part of the team, assisting Collins in the transition.
All the positions announced above will report directly to Tim Gallagher and are effective immediately. For more information on M&T RCC, please visit the M&T Realty Capital Corporation website.
About M&T Realty Capital Corporation
M&T Realty Capital Corporation® (www.mtrcc.com) is a wholly-owned subsidiary of M&T Bank (NYSE:MTB) – the principal banking subsidiary of the M&T Bank Corporation, one of the top 15 U.S.-based commercial bank holding companies. M&T Realty Capital Corporation specializes in providing competitive financing nationwide for multifamily properties, commercial income properties, and healthcare facilities. M&T RCC is a fully accredited Fannie Mae DUS® lender, a Freddie Mac Optigo® lender, an approved FHA/HUD MAP and LEAN lender, and offers life insurance company and CMBS financing through correspondent relationships.
Equal Housing Lender. ©2023 M&T Realty Capital Corporation. Member FDIC. NMLS #1024366.
M&T Realty Capital Corporation is a wholly owned subsidiary of M&T Bank, Member FDIC.
"DUS®" is a registered trademark of Fannie Mae. "Optigo®" is a registered trademark of Freddie Mac.
Media Contacts:
M&T Realty Capital Corporation
Imani Green
267-201-5647
[email protected]
M&T Bank Corporation
Frank Lentini
[email protected]
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SOURCE M&T Bank Corporation