Investment Matters: Mesa West’s Dynamic Duo

What are lenders looking for now? Raphael Fishbach and Ronnie Gul of Mesa West Capital take on pressing CRE finance questions in this conversation with Executive Editor Paul Rosta.

Raphael Fishbach and Ronnie Gul dual headshots for Investment Matters podcast post, July 2024
(left to right) Raphael Fishbach and Ronnie Gul serve as co-CEOs of Mesa West Capital.

More than a decade ago, CPE profiled Mesa West Capital, then an up-and-coming alternative commercial real estate lender, and its co-founders, Jeff Friedman and Mark Zytko. In the years since, the firm has continued to build its platform as an institutional capital source.

As Mesa West marks its 20th anniversary, this episode of Investment Matters catches up with the firm’s current leadership. Ronnie Gul is co-CEO in Los Angeles, where the firm was founded. Raphael Fishbach opened Mesa West’s New York City office in 2010 and now serves as co-CEO.

In this episode, you’ll hear their expectations on what’s next for the real estate capital markets and investment in the second half.

Gul and Fishbach share their insights into what institutional lenders are looking for from potential investor and developer clients.

Episode highlights:

  • Capital market trends to watch now (1:24)
  • Will investment start loosening up soon? (6:38)
  • Why it’s a good time to be a lender (8:37)
  • What debt providers are looking for in investors and project sponsors (11:33)
  • Securing capital in a tight market (15:13)
  • Inside a recent major project financing (19:00)
  • The value of joining forces with an institutional investment manager (23:53)
  • Raphael Fishbach’s journey: Building business relationships, forging opportunity (27:09)
  • Ronnie Gul’s journey: Entrepreneurial goals take an unexpected turn (29:55)
  • CEOs off the clock: Quality time on the links—and with family (34:33)

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