Paul Massey’s B6 Real Estate Advisors hired a Wells Fargo executive to lead the burgeoning brokerage’s debt practice.
Joseph Tufariello, whose title will be president of the capital advisory division, will focus on financial management, business development, recruitment and product management, B6 told The Real Deal.
Massey said he has known Tufariello for a long time and that he will be a strategic partner in the firm taking a bite out of New York City’s real estate debt market. “We want to take a big market share of those transactions to better serve our clients, and Joe is going to lead that initiative for us,” Massey said.
Tufariello was previously Wells Fargo’s managing director in real estate capital markets.
He has closed and originated more than $10 billion in commercial loans over his 30-year career, which also included stints at Ackman-Ziff Real Estate Group, JPMorgan, Morgan Stanley and Nomura Securities, according to B6.
Tufariello, who also is on the Urban Development and Mixed-Use Council, In a statement, he said he was drawn to B6’s “successful track record and entrepreneurial spirit.”
Massey launched B6, which focuses on debt and investment sales, last July 1. The brokerage firm so far has 55 employees; of that, 30 are agents, but there’s only one debt team. Massey said the goal is to add 30 debt teams over the next year to year and a half. “We’ve been ramping up fast, but we look forward to ramping up the debt business that Joe’s going to run,” he said.
In August, B6 hired DJ Johnston, previously of Massey Knakal Realty Services and Cushman & Wakefield, to head up the firm’s first team in Brooklyn.