Real Estate Investment Bank Launches Broker/Dealer Arm

After 18 months of preparation, Sonnenblick Goldman has officially launched registered broker/dealer SG Real Estate Securities LLC. The broker/dealer arm will be a wholly owned subsidiary of the firm. Last week, the NASD formally cleared SG Real Estate Securities to operate as a broker/dealer.

“This is an important moment for the firm,” says Steven Kohn, president of Sonnenblick Goldman. “Our transaction business has grown enormously in the last five years, both in terms of the volume and variety of business we are executing, and the creation of SG Real Estate Securities will allow us to deliver an even broader range of services to our clients.”

Sonnenblick Goldman had previously announced its desire to extend its existing real estate advisory business by providing placement agent services for investment funds as well as becoming more involved in equity and debt products structured as securities.

“Our client base includes many of the most sophisticated property owners and investors in the world, and all of them are thinking about ways to expand their businesses, raise capital more efficiently, and just generally take full advantage of the opportunities they see,” says Douglas Hercher, president of SG Real Estate Securities and a managing director and principal of Sonnenblick Goldman. “In order to meet those demands, it was critical that we create a registered broker/dealer.”

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