AAHOA Founding Member Aries Capital merges mortgage banking group


Rushi Shah named CEO, financing for AAHOA members to continue

 CHICAGO, January 13, 2017,  – Sean J. Conlon, chairman of Conlon & Co. and co-host of CNBC’s “The Deed,” and Neil D. Freeman, chairman of Aries Capital, LLC are pleased to announce that they have merged Conlon & Co.’s Capital Markets Group and Aries Capital’s Mortgage Banking Group to form Conlon Capital. The new full-service mortgage banking firm leverages Aries’ and Conlon’s deep-rooted client and capital source relationships to provide best-in-class debt placement, equity arrangement and advisory solutions for hotel, multifamily and commercial real estate owners and developers nationwide.

Aries Capital’s Rushi Shah is Principal and Chief Executive Officer for the new firm. Fellow Northern Trust alumnus, Tom Reckley of Conlon & Co, is Principal and Chief Operating Officer. Mr. Conlon, Mr. Freeman and Conlon & Co. Chief Executive Officer Benjamin “Benjie” Burford are also principals. Aries Capital’s originations, marketing and closing teams remain in place as Conlon Capital.

Aries Capital will continue to offer preferred financing for AAHOA members under its new umbrella, Conlon Capital. Through this money-saving financing program, AAHOA members receive money back at closing when they close commercial real estate financing through Conlon Capital. Mr. Shah has already secured $42 million in non-recourse, bridge and permanent debt for AAHOA members through the program, enabling them to refinance, reposition and purchase hotels nationwide.

“Combined our two founding firms have closed over $8 billion in financing for our domestic and international clients across all asset classes,” said Mr. Shah, “This impressive track record of success and experience translates into preferred access to the industry’s most active institutional and private investors.  Our Conlon Capital team looks forward to bringing an even higher level of service, and increased debt and equity options to AAHOA’s members.”

Headquartered at 401 W. Ontario in Chicago, Conlon Capital will retain its existing satellite branches located in Los Angeles, Miami and Houston. CEO Rushi Shah expects the company to grow quickly over the next few years, and plans to hire additional originators and open new offices in Dallas and other key markets.

“Tom and I look forward to taking this new venture forward. We will continue to innovate for our customers through new products, technology and specialized expertise across all property types,” said Mr. Shah.  “In addition to expanding into new areas, we will grow our capabilities with strategic hires for SBA and conventional lending in key markets, which will be tremendously beneficial for the growth of AAHOA members,” he added.

“This is a natural partnership for our companies and clients, and a clear case where one plus one equals much more than two,” said Mr. Conlon. “Both Aries Capital and Conlon & Co. are successful boutique firms known for our high-touch customized service and creativity. Aries Capital built its stellar reputation in capital markets for the past 26 years, and Conlon & Co. is a leader in brokerage and merchant banking services. Together Aries and our Capital Markets Group will multiply capital options for our clients, casting a wider net and covering more markets and asset classes. It’s a perfect match.”

“Aligning our financing services and resources puts us on a trajectory for tremendous growth and enables a strategic succession to the next generation of leadership,” said Mr. Freeman. “The synergies in our company cultures were also integral to our decision. We are all personally vested with every client and do what it takes to ensure deals make it to the closing table.”

“Our current and past clients can expect only positive things from the merger,” said Mr. Reckley. “Like its predecessors, Conlon Capital will continue to protect our clients’ interests from start to successful closing.  Now, however, we will be able to offer customers more options and the advantage of the broader knowledge and experience of our combined teams.”

Since its founding in 1991, Aries Capital has arranged and/or directly funded over $5.5 billion in debt and equity across all property types in the United States and Caribbean. Through its affiliates, Aries has funded over $700 million in tax credit and mezzanine financing. While Aries Capital’s mortgage business will become part of Conlon Capital, it will maintain its interests in Urban Development Fund and other real estate ownership businesses.

During its 17-year tenure, Conlon & Co. has produced over $1 billion in financing, equity placement, development, portfolio management as well as commercial and residential brokerage. The firm owns and operates more than $100 million in assets nationwide and has provided more than $1.2 billion in mezzanine financing for new construction and conversion properties. Conlon & Co.’s businesses include Conlon/Christie’s International Real Estate, Conlon Commercial, and now Conlon Capital.

About Conlon Capital: Chicago-based Conlon Capital, an international full-service commercial mortgage and real estate investment banking firm, is a division of Conlon & Co. and the result of a merger between Conlon & Co.’s Capital Markets Group and Aries Capital, LLC. The boutique firm offers best-in-class debt placement, equity arrangement, tax credit syndication, real estate brokerage and advisory through a high-touch, disciplined approach that leverages its preferred access to extensive lending relationships and deep-rooted client and equity sponsors. Collectively the firm has funded more than $8 billion in debt, equity, tax credit and mezzanine financing for hotel, multifamily, office, retail, industrial, healthcare, self-storage and special purpose properties throughout the United States, Caribbean and Europe.  Conlon Capital is the provider of a money-saving financing program for members of the Asian American Hotel Owners Association (AAHOA).  Under the program. AAHOA members get money back when they close commercial real estate financing through Conlon Capital. For more information please visit www.conloncapital.com or www.ariescapital.com.

Rushi Shah can be reached at [email protected] or [email protected] and by phone at 312-640-7430.

Follow Conlon Capital:
Twitter: https://twitter.com/ConlonCapital
Facebook: https://www.facebook.com/ConlonCapital/
LinkedIn: https://www.linkedin.com/company/conlon-capital



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