CRONHEIM TEAM
The Cronheim Difference begins and ends with people. Every transaction, while rooted in quantitative analysis, embodies the relationships between borrowers, lenders, and ourselves that allow the real estate finance industry to flourish. Each and every loan request that passes the desk of a Cronheim employee receives the individual, personalized attention necessary to find the perfect financing package for its development. This emphasis on personal business relationships further manifests itself in our system of correspondent relationships and has become a signature trait of our firm since its inception. Our core executive team has worked together for over fifteen years, creating a cohesive and interdependent environment that facilitates producing impressive results.
Andrew Stewart
CEO
Mr. Stewart began his real estate career at age 19 renting apartments to help pay for college in Boston, Massachusetts. As someone who has learned the business from humble beginnings, he has gained a wealth of experience at all levels of a real estate organization. He has used this knowledge to consistently rank among America’s most productive mortgage bankers and has evolved into an owner/sponsor partnering with real estate developers in numerous projects nationwide. His investment track record has generated excellent returns due to his creative problem solving, focus on market dislocations, and the ability to evaluate a project from various viewpoints as a mortgage banker/broker, property owner, and a CMBS B piece investor.
In June 2020, ICSC tapped Andrew to assist in the ongoing Congressional negotiations to provide additional capital for COVID impacted impaired real estate owners. His most recent article, ‘A Match Not Made in Heaven, Securitization and the Commercial Mortgage Industry’ was the September 2020 feature in Institutional Real Estate Investor and was submitted by ICSC to the Federal Reserve and Treasury Secretary Mnuchin to illustrate the problems inherent in CMBS loan modifications.
A September 2006 article “Managing Expectations” correctly forecast the subprime and mortgage bond issues that impacted the market a year later.
Prior to working at Cronheim, he worked from 1987-94 at Donald Zucker Company, one of NYC’s top multifamily developers, and at Donaldson, Lufkin, & Jenrette, later acquired by Credit Suisse, from 1984 to 1986.
He is a member of the ICSC, MBA/YMBA, IOREBA, NMHC, and NAIOP.
Dev Morris
Principal
Having joined the firm in 1996, Ms. Morris has played a key role in the firm’s leadership and development, having arranged financing for numerous quality real estate projects across the country. Ms. Morris has also been integral to the firm’s growth as a servicing agent for its ten insurance companies and two investment banks. She has had direct involvement in the placement of over $1 billion in commercial debt for all property types during the past five years, including CMBS transactions, acquisitions, CTL financings, as well as new construction projects.
Although most of her time is spent in new production, she spends considerable effort training and mentoring associates, most of whom are taking a similar career path in learning the industry from the ground up.
Ms. Morris holds a Master’s of Science degree from the Real Estate Institute of New York University. She attended Drew University on a full academic scholarship, graduating magna cum laude and obtaining a dual BA in Economics and French. She is a member of the ICSC and the MBA.
David Turley
Principal
David is one of the country's most active independent mortgage bankers. He's advised a wide range of clients -- from local owner/operators and family development companies to large institutional investors -- on over $5B in transactions, including over $2B in the past four years. He's financed properties across the country and across the asset spectrum, from self storage and anchored retail to multifamily and hospitality. His lender relationships include banks and credit unions from coast to coast as well as insurance companies, investment banks, debt funds, and a wide spectrum of finance companies. His clients value his transaction and strategic guidance as he combines superior capital markets knowledge and relationships with extensive transaction experience and a broad real estate expertise.
David started his career at Cronheim Mortgage in 1999 as a real estate analyst but quickly rose the ranks into a production role. He built the firm's hospitality finance practice, which has completed over $2 BN in hotel transactions in the past few years, while also building an extensive client base within the multifamily, retail, and self storage industries.
David lives in New Jersey with his wife and two children. He graduated summa cum laude from Asbury College with a B.A. in History.
Janet Proscia
Managing Director
Janet Proscia joined Cronheim in 2010. With over 30 years of experience in the Mortgage Banking Industry, she is known as one of the finest CRE executives in the region. Proscia was the first employee at James R. Poole & Co. in 1979 and instrumental in helping that company grow into one of New Jersey’s premiere financiers of commercial real estate. She later became Partner and was the COO when Poole & Co. was sold to NorthMarq Capital. By then, Poole & Co. had $1.1 billion in serviced loans for institutional investors, including TIAA, Lincoln National, Genworth, PPM and National Life of Vermont.
Proscia completed over $2.2 billion in financing transactions at NorthMarq from 2004-2009; she was quickly promoted to Senior Vice President. The New Jersey branch office has $1.7 billion in servicing for which Proscia had significant oversight responsibilities with lenders that included Aetna, Allianz, Allstate, Freddie Mac, Genworth, Hartford, ING, National Life of Vermont, Lincoln National, PPM, TIAA and UNUM. Mrs. Proscia’s responsibilities were extremely diverse given her expansive knowledge base in origination, underwriting, closing, loan servicing and operations.
She graduated from Montclair State University with a BS in Finance. Additionally, Mrs. Proscia was a member of the Board of Governors of the Mortgage Bankers Association of New Jersey, served as Chairperson and Vice Chair of the Income Property Investment Committee, Chair and Vice Chair of Environmental Issues Committee, Chair and Vice Chair of Public Relations Committee and is Co-Chair of the Community Action Committee of NAIOPNJ.
Lisa McMahon
Vice President
Lisa joined Cronheim in 2003. Since joining the firm, Ms. McMahon has had direct involvement in the underwriting, placement, and execution of more than $2 billion in debt. She has also handled construction loan disbursements and other structured financings. Ms. McMahon manages Cronheim’s loan servicing portfolio and oversees all its banking, accounting and lender reporting functions. She has developed several of the templates used by the firm in property level, internal rate of return and yield-to-maturity analysis.
Lisa graduated from Wittenberg University magna cum laude with a B.A. in Mathematics with minors in Management and Computer Science. She was also accepted into Phi Beta Kappa.
Jeff Pacailler
Director
Jeffrey has helped to develop Cronheim Mortgage into on of the premier national finance platforms in the industry. In his tenure, he’s underwritten and placed financing on commercial properties throughout the country with a wide variety of capital sources – from bridge lenders and banks to CMBS and insurance companies. Jeff’s attention to detail, knowledge of real estate operations and proactive approach to solving problems helps to ensure a smooth transaction and a successful outcome.
Jeffrey graduated from the College of New Jersey with a B.S. in Business Administration and a specialization in Finance. He currently lives in Morristown, NJ.
Allison Villamagna
Director
Allison Villamagna joined Cronheim Mortgage in 2012, shortly after graduating with distinction from the Smeal College of Business at The Pennsylvania State University. She holds a B.S. in Finance with a concentration in Real Estate. She has modeled and closed commercial real estate debt and equity investments across all asset types throughout the US. Debt structures have included permanent, bridge, and construction financings, which have been placed with a variety of capital sources including life insurance companies, CMBS lenders, banks, debt funds, and credit unions.
Allison is an integral part of the team, making decisions on the firm’s equity investment business and handles the asset management function in many of the firm’s principal positions. Insurance companies and other institutions the firm services loans for rely on her due diligence and asset management capabilities.
Allison is an active member of ICSC (Innovating Commerce Serving Communities, formerly International Council of Shopping Centers) and NMHC (National Multifamily Housing Council).
David Poncia
Director
David joined Cronheim in 2017 from a prior career in investment banking where he worked on sell side M&A engagements and various equity offerings with Needham & Company in Boston. Since joining Cronheim, David has assisted in growing the firm’s self storage and hospitality finance platforms, in addition to executing transactions across all asset classes nationally. He has created several banking relationships allowing Cronheim to place capital and bank clients in new markets.
David graduated from Boston College’s Carroll School of Management with a concentration in finance and accounting. He currently lives in Hoboken, New Jersey, and is an avid golfer. David is a member of NJAA.
Caleb Moore
Associate
Caleb joined Cronheim Mortgage in 2022 from Hyatt Hotels Corporation where he worked as an Area Director of Revenue Management. He led the revenue management department for both the Hyatt Regency Jersey City and New Brunswick locations where he directed pricing, rolling forecasts, budgeting, and financial planning/analysis/reporting.
Since joining Cronheim, Caleb assists with writing pitch decks for all types of commercial real estate debt and equity investments, evaluating capital markets’ interest in and pricing of clients’ debt and equity needs, managing transaction due diligence and closing processes, and pitching clients’ financing requirements to prospective capital sources.
Caleb graduated from Auburn University with a BSBA in Economics. He currently lives in Westfield, NJ with his wife and daughter. Outside of work Caleb enjoys Auburn athletics, golf, ancient history, and serving at his local church.
Brandon Szwalbenest
Associate
Brandon Szwalbenest joined Cronheim Mortgage in 2022 shortly after graduating Magna Cum Laude
from the Schreyer Honors College and the Smeal College of Business at the Pennsylvania State
University. During his time in State College, PA, Brandon demonstrated his passion for commercial real
estate as the Lead of the Real Estate Sector in Penn State’s prestigious Nittany Lion Fund. In this role,
Brandon generated an overarching investment strategy for the allocation of alumni investor capital that
led to significant outperformance of the major real estate benchmarks.
Since joining Cronheim Mortgage, Brandon has assisted in the financing of half a billion dollars of
commercial real estate across dozens of transactions. In his role as an Associate, Brandon specializes in
financial modeling, loan offering memoranda development, lender relationship development, and
workflow optimization.
Outside of work, Brandon spends his time watching his beloved Philadelphia sports teams, volunteering at the Hoboken Homeless Shelter, and playing basketball.