How did you come to join CBRE?
I worked in multifamily development in Seattle right out of college for a merchant builder that developed 300-unit, garden-style properties. I had majored in accounting, and did cost analysis, quantifying how specific details and amenities would impact the rents we could achieve. I’ve always enjoyed solving a financial puzzle, whether it’s for the loan amount or purchase price, and digging into what the numbers will support. The builder had a joint venture with GE Capital, and I joined the team there, doing single tenant and commercial financing for 13 years. It’s a small world in real estate, and I had great relationships with the investment team at CBRE. When CBRE decided to launch a small balance lending program in 2014, I was thrilled to jump on board. I have a great affinity for the people and the quality of the service.
You do small balance lending for CBRE on the agency side, primarily Freddie Mac and Fannie Mae multifamily loans. What do you like about the business?
Every day is different. I have a broad spectrum of clients regionally and nationally, people from their 20s through their 80s, everything from a retired school teacher who owns a single apartment building to a Fortune 500 executive with a portfolio of properties. You do a lot of relationship-building, because about 70 percent of our transactions are repeat customers. Some clients want to sit down and go over every document and others prefer to communicate solely through phone and email. As a whole we did hundreds of small balance loans across the U.S. last year, and to execute that volume you need to work quickly and efficiently. My clients trust me to overcome issues and work through challenges.
You’ve been working in the industry for about 20 years. How does your experience benefit clients?
To be successful in the small- to mid-market business you have to be an expert in what it takes to get from the starting point to the finish line, and have expertise in the underwriting, valuation and structuring of capital. There are a lot of little nuances along the way, and any one of them could become a problem if they aren’t addressed, whether it’s certificates of good standing, insurance coverages, title reports or legal reviews. At any one time we may be working on 15 or more transactions. Understanding what has to happen next in each one is mission-critical. My experience helps in navigating the process, keeping clients organized throughout, and ensuring transactions get completed. I’m also knowledgeable in the agency products and on top of programmatic changes that benefit our clients. When I see a shift that presents a new opportunity, I’ll reach out.
What motivates you to put forth your best effort?
I’ve always loved a challenge, whether it was in sports or academics in school or in my career. You have to be willing to compete and do the best for your clients, because there are ten other folks who want the business. Having been through several major real estate cycles, I have seen a lot of competitors come and go, whether it’s banks or life companies or other seller-servicers. They’ll show clients tantalizing rates and aggressive terms, but they never stick around. I pride myself on offering consistent service and working for companies that have integrity and longevity, who are doing things the right way. It comes down to doing what you say and delivering for people.
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Rob Doxsee is a Senior Vice President with CBRE Capital Markets, Debt & Structured Finance. Mr. Doxsee is based in Seattle, Washington, and is active in all areas of commercial real estate lending, including multifamily, industrial, office, medical, retail and hotel properties, as well as construction loans. Thus far in his career, Mr. Doxsee has underwritten, analyzed and facilitated commercial real estate transactions in excess of $1 billion.