Capital Markets

Count on Keystone Real Estate to secure best-in-market terms and execution for your CRE loans

Utilize Keystone’s capital markets experience as both a developer and CRE lender to achieve optimal results and best execution in the market for your project financing needs.

Ryan’s deep understanding and appreciation of how lenders evaluate projects allows him to effectively and efficiently market client loan requests to the CRE lending community, achieving optimal results for clients. Ryan works with clients to understand their strategy and objectives, and identify their unique pain points and issues. He keeps those in mind as he navigates the debt procurement process from project concept to closing day, and everything in between.

Ryan has closed/underwritten $1B of debt financing, and developed numerous long‐standing relationships in the commercial lending community encompassing national and regional banks, life insurance companies, mortgage brokers, and multifamily‐specific debt programs including HUD 221(d)4, 223(a)7, and 223(f) market rate loan programs.

Ryan's experience includes varied property types (multifamily, office, retail, industrial, hospitality, and mixed-use) and loan sizes ($2MM to $200MM+ financings)

Capital Markets services include:

  • Helping clients identify capital markets strategies and structures (on a portfolio or single asset level) that meet their unique needs, hold periods, and investment strategies.
  • Creation of offering memoranda to facilitate debt or equity capital raising
  • Owner’s representative services in procuring, negotiating, and closing debt transactions with banks, HUD brokers, permanent lenders, and non-traditional lending sources
  • Collaborating with General Contractor to coordinate monthly loan draw process

Capital Markets

A former CRE lender himself, Ryan is well versed in current capital markets terms and structures for construction, bridge, permanent (LifeCo, Fannie/Freddie, CMBS), and HUD financing. In the past 5 years, Ryan has sourced and closed $350 MM of CRE debt, and consulted on an additional $600+ MM of loans.


How do Keystone's Capital Markets Advisory services differ from those of a mortgage broker?

Keystone Real Estate does not maintain correspondent relationships with Life Insurance companies, does not service loans, and is not a Fannie/Freddie DUS lender.

While Keystone has many relationships with capital sources, these are non-contractual, and Keystone's sole focus is doing what is best for the client on a deal-by-deal basis.


"Ryan's adaptability and creative approach made the process surprisingly enjoyable. I look forward to working with him again."

― Shannon Stearman
Capital Markets Manager, Brinkman Partners

A former CRE lender himself, Ryan is well versed in current capital markets terms and structures for construction, bridge, permanent (LifeCo, Fannie/Freddie, CMBS), and HUD financing. In the past 5 years, Ryan has sourced and closed $350 MM of CRE debt, and consulted on an additional $600+ MM of loans.

Ryan has extensive experience in commercial real estate market research, from both developer/investor and bank perspectives.

This experience includes: Demand Analysis, Economic, Demographic, and Psychographic Studies, Supply/Pipeline Analysis, Differentiation Strategies, and Competitive Set Analysis.

Ryan has well over ten thousand hours experience utilizing MS-Excel and Argus to model CRE investments, incorporating: varied unique and complex promotes and waterfall structures; multiple and variable hold periods; sensitivity and 'downside' analysis; and complicated capital stacks. He has experience modeling myriad capital sources, including construction, permanent, and mezzanine debt, EB5 financing and HUD market rate multifamily loan programs.

Ryan has underwritten hundreds of potential real estate transactions, facilitating the ground up construction of 9 multifamily projects (2800 units), the sale of a dozen stabilized assets, and the construction of office/industrial build-to suits totaling 700,000 SF.

"What matters is the process. The process is everything"

― Yvon Chouinard