Executive Vice President
Managing Partner and CIO
Mack Real Estate Group
Thursday, March 16, 2017
Marriott Marquis Hotel – NYC
6pm Cocktail Reception
Community Partner Award Recipient
George M. Klett serves as Executive Vice President and Chairman of the Commercial Real Estate Committee at Signature Bank.
Born in the Bronx, George began his working career at the neighborhood grocery store at the age of eleven. At nineteen he enlisted in the U.S. Air Force serving from 1969-1973. Upon returning to the Bronx, he drove a taxi at night while looking for a job during the day.
George’s real estate career began as a sales representative for Geisinger-Klock Real Estate, Inc. in the Bronx in 1974. In 1975, he joined Fourth Federal Savings Bank as an appraiser and was later promoted to Mortgage Loan Officer. He was responsible for originating and managing multi-family and commercial real estate loans in the New York City metropolitan area. From 1979-1985 he had his own real estate brokerage company in Manhattan.
In 1985, he organized M&T Bank’s entry into commercial real estate lending and served as Senior Vice President and Manager of Commercial Real Estate Lending. He grew the loan portfolio to in excess of $2 billion. In 1995 he joined North Fork Bank and spent 12 years serving as Executive Vice President, overseeing a commercial and multi-family mortgage loan portfolio in excess of $12 billion.
In 2007, George originated a Commercial Real Estate Lending Department at Signature Bank which currently has a loan portfolio in excess of $22 billion. Throughout his career, he has originated more than 20,000 loans, totaling greater than $50 billion. It is believed that he has financed more properties in New York City than any other person in history.
George is a member of the Real Estate Board of New York (Board Governor), as well as a member and past Chairman of the Real Estate Finance Committee, the International Shopping Center Association, the Lincoln Center Real Estate and Construction Council, the Bronx-Manhattan Realtors Association and the Metropolitan Mortgage Officer’s Association.
As an active member of his community, he has been recognized over many years for his good works. He was the recipient of the State of Israel’s Leadership Award for Israel Bonds in 1999 and the Honoree of the Jewish Children’s Museum in 2006. George received the “Harry Chapin Humanitarian Award” from Long Island Cares in 2013 and the same year received a Certificate of Special Recognition from the U.S. House of Representatives for a Veteran’s Services van for Long Island Cares. George and his wife Joyce reside in Lloyd Harbor, New York and have eight children and seven grandchildren.
Peter Sotoloff co-founded MRECS in 2014 and serves as a Managing Partner and Chief Investment Officer.
Prior to joining MRECS, he was a Managing Director and Head of U.S. Originations of Blackstone Real Estate Debt Strategies (BREDS), was a founding member of the Blackstone affiliate that advises such funds, and contributed to the launch of Blackstone Mortgage Trust (NYSE: BXMT).
Over 7 years, Mr. Sotoloff helped BREDS become a well-respected platform with $10 billion of equity capital and was closely involved in more than 90 discrete investment transactions representing more than $30 billion in total transaction value.
Mr. Sotoloff oversaw structured finance transactions including both loan originations and investments in legacy loan portfolios and CMBS. He also sourced several transactions for the Blackstone Real Estate Partners equity investment program.
Mr. Sotoloff served on the Investment Committee for Blackstone Mortgage Trust, the Review Committee for the Blackstone Tactical Opportunities Fund, and the Board of Directors of Landmark Apartment Trust.
Prior to joining Blackstone, Mr. Sotoloff was a principal at Tribeca Associates, overseeing the acquisition, financing and development of office, lodging, for-sale residential and mixed-use assets and portfolios, and before that worked for Morgan Stanley, focused on the real estate and special situation funds, and Goldman Sachs, focused on the Whitehall global real estate opportunity funds.
Mr. Sotoloff is a member of the Real Estate Board of New York, the Urban Land Institute, the CRE Finance Council and the International Council of Shopping Centers. He graduated with highest honors from the Wharton School of the University of Pennsylvania and completed the International Business Strategies Program at the London School of Economics.
Mr. Sotoloff lives in Manhattan with his wife Meredith and their two children and is active in numerous philanthropic causes and mentoring organizations.