Avison Young brings on George Vail to expand capital markets, debt platform

Vail has worked on more than $4B of commercial deals over his 20-year career, he says

Apr.April 06, 2017 03:00 PM
George Vail

George Vail

Avison Young has brought on George Vail as a principal in its Miami office, where he’s heading the company’s capital markets and debt group.

Vail was previously a managing director at Ackman-Ziff. There, he arranged construction debt, mezzanine loans and raised equity for new and existing properties in Florida, ranging from about $10 million to more than $100 million, Vail said. He also worked on investment sales, including the $39 million sale last year of Miami Green, a 13-story office tower near Coral Gables.

He officially started at Avison Young on Monday, and said he is looking to expand the firm’s debt and equity group throughout the state.

Vail spent about five years at Ackman-Ziff, and before that was managing director at HFF in Miami. He’s worked on more than $4 billion of commercial deals over the course of his 20-year career, according to a press release.  Vail will work with banks, pension funds, debt funds, high-net-worth individuals and other lenders.

In recent years, Avison Young has expanded its Florida presence by acquiring West Palm Beach’s WG Compass Realty Cos., Tampa’s Lane Witherspoon & Carswell Commercial Real Estate Advisors. Orlando’s Morrison Commercial Real Estate, and Miami’s Abood Wood-Fay Real Estate Group.

Vail joined Avison Young at a time when commercial real estate lenders are tightening their standards. But Vail said the lending market is “very healthy” with office and multifamily as the strongest sectors, and condo and big box retail as weaker sectors.

“Obviously, there’s been some headwind with condo development. Sales have slowed down, but there’s still plenty of capital available for the right project,” he said. “It’s just more selective right now.”

Related Articles

Rendering of the Brickell hotel development, Tony Cho and Robert Finvarb

Finvarb and Cho land construction loan for mixed-use hotel near Brickell City Centre

Allen Morris and Miracle Mile (Credit: Wikipedia)

Mixed-use projects in downtown Coral Gables will fuel population and commercial tenant growth: panel

Developer borrows $105M, breaks ground for mixed-use Flagler Village project

Neiman Marcus CEO Geoffroy Van Raemdonck (Credit: Getty Images)

Struggling Neiman Marcus scores loan from Credit Suisse for Coral Gables store

Developers land $74.5M loan for condo construction project at Ocean Reef Club

Ceiba Groupe's Managing Principal Adam Bedzow and a rendering of Suede Downtown Davie

Ceiba Groupe nabs $46M loan for Downtown Davie project

JW Marriott Miami Turnberry Resort & Spa with Jeffrey Soffer, and a rendering of the Shore Club with Ziel Feldman

Jeffrey Soffer’s Turnberry Isle, HFZ’s Shore Club hotel close refinancings

From left: Alirio Torrealba, Robert Barthelmess and Kenneth Baboun with Biltmore Parc

Biltmore Parc developer scores condo inventory loan for unsold units