Former clients of Mark A. Walsh, the onetime head of global real estate at now bankrupt Wall St investment bank Lehman Brothers, praised the banker in an article from the New York Times today.
He was subpoenaed last fall by U.S. prosecutors to determine if the bank properly valued its real estate holdings.
Below are quotes from clients and highlighted deals Walsh facilitated, according to the report.
Client: Richard Ziman, former chief executive of Los Angeles-based Arden Realty
Deal: Walsh helped the company go public in 1996 and also to sell it in 2006.
Statement: “I have the greatest respect for him personally and professionally, said Richard S. Ziman, the former chief executive of Los Angeles-based Arden Realty. I'd testify in court if that was necessary.
Client: Barry Sternlicht, former chief executive of Starwood Hotels and Resorts
Deal: Walsh helped Starwood secure a $7 billion loan from Lehman to buy hotel operator ITT Corp.
Statement: “We paid a $20 million fee. I was never so happy paying a fee.”
Client: Aby Rosen, developer
Deals: Walsh helped Rosen and a partner acquire properties such as the Lever House and Seagram building.
Statement: “He was fast,” he said. “He doesn’t try to kill you on retrade. To be honest, there are very few people in the industry you can say that about.”
Statement: “Guys like this are very rare.” “He’ll be back. He picked up the phone and people listen. Nobody can take that away from him.”
Client: Jerry Speyer, Chairman of Tishman Speyer
Deal: Walsh helped Tishman Speyer acquire Archstone-Smith Trust in a $22 billion deal which only required $250 million of Tishman Speyer's funds.
Statement: “Mark is an extremely talented investor and a great partner,” he said. “We look forward to working with him in the future.