Premium Point Investments, the New York asset manager behind WinWater Home Mortgage, is expanding beyond residential mortgages into he multi-family space and has tapped Stephen Jones to lead the effort.
Jones has over 20 years of experience in the real estate industry, and has executed over $10 billion worth of transactions over multiple market cycles, according to a press release.
Most recently, he was a managing director at Capmark Finance, wher he led an asset management team in New York that worked out $2.5 billion of balance sheet loans and real-estate-owned property over a five-year period. He also led a team that managed over 30 repossessed properties that were ultimately sold for over $500 million.
Previously, he was a managing director with RBS Greenwich Capital, where he completed $5 billion of financings, including a number of large, highly-leveraged and structured transactions. Prior to Greenwich Capital, he spent 10 years at Credit Suisse First Boston, principally in the commercial real estate group. He joined CSFB in 1993 after working at GE Capital Commercial Real Estate.
Premium Point was co-founded in 2008 by Anilesh Ahuja, former head of Deutsche Bank’s RMBS business and Hyung Peak, former managing director and the head of private CMO trading at Deutsche Bank. It has recently established a residentail mortgage business that ranges from real estate acquisition and property management to loan underwriting & sourcing to securitization and trading. Through the WinWater RMBS conduit, the firm has issued over $2 billion of residentail mortgage backed securities since 2014.
"The multifamily sector is an extension of our long-standing deep expertise in residential markets," said Ahuja in the press release. "Having [Jones] aboard will expand that expertise tremendously and enhance our integrated residential platform that we have built."