New Position Focused on Expanding Commercial Real Estate Credit Asset Management
NEW YORK, September 30, 2024--(BUSINESS WIRE)--ORIX Corporation USA (ORIX USA) announced today the appointment of Dean Dulchinos as Managing Director and Head of Real Estate Credit. Mr. Dulchinos is based in New York and reports to Jeff Abrams, Group Head of Private Credit and Real Estate and Member, Executive Committee. Mr. Dulchinos has over 20 years of experience building and managing global commercial real estate (CRE) platforms, including 17 years at Barings/MassMutual companies in senior leadership positions within global CRE investing, including as Head of Real Estate Debt Portfolio Management and Capital Markets and Head of Structured Investments.
As Head of Real Estate Credit, Mr. Dulchinos will be responsible for expanding ORIX USA’s third party CRE credit asset management business. He will serve as a Portfolio Manager, developing investment products that leverage the firm’s real estate businesses including Lument, a national leader in commercial real estate finance and provider of capital solutions for investors in multifamily, affordable housing, and seniors housing and healthcare real estate. Mr. Dulchinos will collaborate with Jim Flynn, CEO of Lument, to raise and deploy capital for Lument-originated non-agency investment products, expanding the firm’s offerings for existing and prospective investors. More broadly, he will work with ORIX USA’s Real Estate lines of business including the Real Estate Capital Group and Boston Financial to expand origination, oversee third party CRE debt portfolios, and, with ORIX USA’s Investor Solutions team, grow the firm’s investor base and product offerings.
Mr. Dulchinos joins ORIX USA from global real estate investment manager AEW Capital Management, where he was Head of Debt Portfolio Management, responsible for investing and managing CRE debt in stabilized, transitional, and construction strategies. He previously served as Head of Single-Family Rental Portfolio Management at the Amherst Group and worked for a total of 17 years at Barings/MassMutual companies, most recently as Head of Real Estate Debt Portfolio Management and Capital Markets at Barings. In that role, he led new CRE debt product development and capital raising for commingled funds and separately managed accounts, and was responsible for portfolio construction, investment allocations, risk-based capital management, as well as global capital markets activity, for the CRE debt platform. He was previously Senior Portfolio Manager for CRE structured debt products at Cornerstone Real Estate Advisors and a founding member of the CRE high yield team at Babson Capital Management, both of which were Barings/MassMutual companies.
"Dean is a very strong and experienced addition to our platform and has the ideal background to expand our third party CRE credit offering, connecting our private credit asset management platform with our established real estate businesses to offer investors a set of investment strategies that ORIX USA has been investing in for years," said Mr. Abrams. "We see a compelling market opportunity in real estate private credit over the next few years driven by several factors, including significant near-term CRE debt maturities, structural shifts in the sources of credit for transitional CRE strategies, and the prospect of a moderating interest rate environment. Dean will leverage these attractive market dynamics and the significant debt origination capacity we have in our Real Estate lines of business with the goal of delivering excellent investment outcomes for third party investors."
"We are looking forward to partnering with Dean on this cross-business initiative to raise third party capital that will expand our capital base and our investor relationships," added Mr. Flynn. "Having also recently expanded our real estate capital markets team and launched a conventional multifamily investment sales platform, we are well positioned to use our platform to further deliver better results and solutions for our Lument clients."
Earlier in his career, Mr. Dulchinos was a practicing attorney, including serving as Counsel at MassMutual Life Insurance, where he represented the firm in CRE debt investments, private placements, and mergers and acquisitions. Mr. Dulchinos holds a BS in Business Administration - Finance from Western New England University and a JD from Western New England University School of Law.
About ORIX Corporation USA (ORIX USA)
Established in the U.S. in 1981, ORIX USA has grown organically and through acquisition into the investment and asset management firm we are today. With a specialization in private credit, real estate, and private equity solutions for middle-market focused borrowers and investors, we combine our robust balance sheet with funds from third-party investors, providing a strong alignment of interest. ORIX USA and its subsidiaries — ORIX Advisers, ORIX Capital Partners, Signal Peak Capital Management, Boston Financial, Lument, Real Estate Capital, and NXT Capital — have approximately 1300 employees across the U.S. and have $85 billion in assets, which include $26.3 billion of assets under management, $49.1 billion in servicing and administration assets, and approximately $10.0 billion in proprietary assets, as of June 2024. Our parent company, ORIX Corporation, is a publicly owned international financial services company with operations in 30 countries and regions worldwide. ORIX Corporation is listed on the Tokyo Stock Exchange (8591) and New York Stock Exchange (IX). For more information, visit orix.com.
About Lument
Lument, a subsidiary of ORIX USA, is a national leader in commercial real estate finance and delivers a comprehensive set of capital solutions and services customized for investors in multifamily, affordable housing, and seniors housing and healthcare real estate. Lument offers Fannie Mae, Freddie Mac, FHA, USDA, and balance sheet financing, as well as a full suite of capital market lending products. In addition, Lument provides a suite of real estate advisory solutions including real estate investment sales, investment banking, and investment management solutions. The company has approximately 600 employees in over 30 offices across the United States.
Securities, investment banking, and advisory services are provided through Lument Securities, LLC, member FINRA/SIPC. Lument Investment Management, LLC, is registered as an investment adviser with the U.S. Securities and Exchange Commission. For more information, visit https://www.lument.com/.
