Casey Foulks
Charlotte,NC
Summary
Senior commercial real estate investment professional with over 25 years of experience and a successful track record of institutional lending, portfolio management, asset management, capital raising, risk management, and business development. A history of fostering an inclusive and collaborative workplace culture by mentoring junior team members, creating multi team working groups, and supporting shorthanded teams during market fluctuations.
Overview
27
27
years of professional experience
Work History
Head of U.S. Separate Accounts – Senior Director
Teachers Insurance and Annuity Association / Nuveen
Charlotte , North Carolina
2011.06 - Current
- Strategic management of a $3.5 billion commercial real estate debt portfolio consisting of senior mortgages, mezzanine loans, note-on-note financings, and CMBS investments
- Raised $2.3 billion of equity capital to grow the separately managed account business by over 100% in four years
- Completed Requests for Proposal from global investors, lead client due-diligence meetings, negotiated investment guidelines and pricing, and structured tax-efficient vehicles to optimize client returns
- Evaluated internal transaction memos to ascertain credit risks, sponsorship strength, and loan structure to make sound allocation decisions for optimal portfolio performance
- Generated a 40 - 250 basis points premium over target returns for all separately managed accounts
- Prioritized client relationships with quarterly portfolio updates, investment research, financial reporting, and performance attribution.
Director
Teachers Insurance and Annuity Association / Nuveen
Charlotte , North Carolina
2015.01 - 2017.01
- Oversaw a portfolio of international real estate equity investments with a gross asset value of $3.8 billion
- Participated as an active board member on eight Luxembourg based boards to efficiently manage investments
- Contributed to forming a $2 billion joint venture between three investment managers and comprised of 15 office investments located throughout Europe
- Provided qualitative and financial analysis to obtain client approval for $170 million of development and redevelopment capital to strategically position assets for sale
- Administered the annual business plan and quarterly asset review processes with the European asset managers to ensure effective forecasting, implementation of strategies, and management reporting.
Director
Teachers Insurance and Annuity Association / Nuveen
Charlotte , North Carolina
2011.06 - 2015.01
- Managed a portfolio of commercial real estate loans totaling approximately $2 billion consisting of first mortgages and subordinate debt
- Structured and closed commercial real estate loans including analyzing property and financial information, negotiating business points with clients, and collaborating with other teams to prepare internal closing documents
- Enhanced client relationships by prioritizing requests including, lease approvals, easement requests, insurance issues, release and substitution of collateral, and other loan modifications
- Lead the $1.0 billion subordinate debt program requiring detailed knowledge of CMBS structuring, coordination between multiple parties, and consistent communication with investment banks during a fast-paced transaction environment
- Analyzed quarterly and annual property financial statements to proactively anticipate any potential risks in the portfolio.
Vice President
Wachovia Bank, N.A./ Wells Fargo Corp
Charlotte , NC
2004.07 - 2011.06
- Relationship Manager on $323.4 million of loans across a diversified portfolio involving managing client requests, modifying loans as necessary for proper risk management, and ensuring compliance with loan documents
- Restructured loam terms for maturing and non-performing loans to ensure the best outcome for the bank
- Produced a comprehensive quarterly status report on entire portfolio and presented the reports to senior managers and Risk Management
- Managed a $4 billion REIT portfolio which entailed quarterly analysis of financial statements, covenant compliance, market trends, sponsorship quality, and tenant performance
- Underwrote and oversaw a $3 billion opportunity fund portfolio which generated approximately $6 million of fee revenue.
Underwriter
CW Capital Investments
Newport Beach , CA
2003.04 - 2004.07
- Reviewed asset underwriting of individual commercial real estate loans in preparation for bidding on a loan portfolio for purchase or for the purpose of investing in non-investment grade CMBS bonds
- Determined appropriate market level revenues and expenses and analyzed property level cash flows
- Established property valuations utilizing appropriate cap rates, lease comparables and sales comparables
- Evaluated property level risks utilizing the asset summary, site inspection, broker interviews and third party reports
- Assessed loan structure to determine strengths and weaknesses.
Associate
GMAC Commercial Mortgage Corporation
New York , NY
2000.03 - 2002.03
- Analyzed asset level financial statements to determine proper asset valuation and loan size
- Prepared loan overviews including property narratives, market summaries, financial analysis’ and repayment sources
- Estimated subordination levels for CMBS bonds to be issued and worked with rating agencies to determine levels and optimize structure
- Presented and discussed loan underwriting with rating agencies and subordinate CMBS bond buyers
- Performed site visits on assets being underwritten for securitization.
Analyst
Nomura Asset Capital Corp
New York , NY
1997.04 - 2000.03
- Reviewed asset summaries and analyzed financial history and projections from investment banks in preparation for short term financing
- Performed asset level underwriting including financial modeling and analysis, borrower due diligence, property tours, and risk mitigation for loans to be securitized
- Worked with accountants to ensure financial information was accurate prior to securitization
- Coordinated closing documentation with attorneys to confirm that proper legal documents were received and correct.
Education
Bachelor of Arts - Business Administration
Villanova University
International Finance I & II
New York University
Commercial Real Estate Finance
New York University
Skills
- Client relationships
- Capital Raising
- Portfolio Management and Optimization
- Financial Analysis and Modeling
- Risk Management
- Asset Allocation
- Interpersonal Communication
- Commercial Real Estate
- Mentoring and Management
- Business Development
- Microsoft Office
Timeline
Director
Teachers Insurance and Annuity Association / Nuveen
2015.01 - 2017.01
Head of U.S. Separate Accounts – Senior Director
Teachers Insurance and Annuity Association / Nuveen
2011.06 - Current
Director
Teachers Insurance and Annuity Association / Nuveen
2011.06 - 2015.01
Vice President
Wachovia Bank, N.A./ Wells Fargo Corp
2004.07 - 2011.06
Underwriter
CW Capital Investments
2003.04 - 2004.07
Associate
GMAC Commercial Mortgage Corporation
2000.03 - 2002.03
Analyst
Nomura Asset Capital Corp
1997.04 - 2000.03
Bachelor of Arts - Business Administration
Villanova University
International Finance I & II
New York University
Commercial Real Estate Finance
New York University
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