About Us


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Overview

Chesterfield Faring, Ltd ("CFL") is a highly entrepreneurial enterprise. Though, CFL's principals are experienced. well seasoned, pragmatic problem solvers, CFL is creative and thinks outside of the box. CFL is opportunity driven, not category or biased positioning.

CFL acts as visionaries seeing opportunities where others fail. CFL will implement a plan (plus contingency plans) and then act as a first mover advantage in those targeted markets. For example, CFL created a CRE debt restructuring platform in March 2007, a full year ahead of the capital markets collapse. CFL was a first mover that led to over $7 billion in debt restructuring assignments for CRE borrowers. That experience allows CFL to see the borrowers vantage point as it acquires larger and larger "leftover" pools of CRE loans being liquidated by major funds and banks currently.

CFL has an active advisory business serving international NGAs, sovereign wealth funds (SWF), and select governments, in the past and currently. Currently and for example, CFL is advising the Republic of Ghana to develops a 21st century mass transit rail system for the country.

CFL acts as a principal, lead originator, underwriter, co-sponsor, asset manager, active investor. Thinking like a principal and investing its own capital side by side with its clients, provides an unique alignment to vet the best deals and at the best pricing, both in acquisition costs and the costs of capital to produce excellent current cash flows (as high as 2% per month) plus long term returns in excess of 20% annually. These investments include the increased value of the companies as well as the underlying assets. The investments are not static so yields can grow as quickly as we can aggregate mass. CFL invests in direct real estate asset(s), real estate portfolios, distressed debt, high yield private preferred equity, real estate companies both publicly traded and privately held, and incubates new smart talent both in the company and in its invested companies. CFL has a core of investors that co-invest in each transaction with CFL.

CFL provides a narrow range of best-in-class merchant banking services to specialty institutional firms, private family home offices, entrepreneurs, and select private clients. CFL is a team structured culture. Each assignment is closely analyzed to determine the best team to be organized to complete the execution.

We invest in people not just assets. Our address is 355 Lexington Avenue, New York, NY 10017.

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Alignment of Interests

We align our interests with our clients. It is of great importance to CFL to develop long-term, mutually beneficial, relationships with our clients. We maintain the highest standards of integrity and professionalism to insure that alignment.

Our clients entrust us to provide sound financial advice. We provide a well-executed strategy that promotes and delivers positive results for our clients. We invest equity capital, provide bridge loans, and invest time in our clients to further develop our mutual relationship.

We pride ourselves on being indispensable to our clients’ businesses. We take our clients’ business interests seriously and advocate their positions with logic, precision, and passion.

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Independence

CFL is entirely independent and focused on our clients and their objectives. Our advice is unfettered by the internal conflicts and distractions inherent with larger, diversified financial institutions. As an independent, boutique firm, we can provide objective advice to our clients. This includes advising clients not to pursue transactions if they are unwarranted or inappropriate.

Our philosophy has always been: “No one deal is worth losing a client, tarnishing our reputation, or compromising future business."

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Our Process

Engagement

Before CFL accepts an engagement, it researches and assesses the efficacy of the client's business model, objectives, mission, sustainability, size, and scope. The firm determines if the client's desired result is achievable. Upon determination of client suitability, CFL appoints the appropriate personnel to meet the client's needs. CFL sets realistic time frames to complete the assignment. The client and CFL execute an engagement letter setting forth services.

Offering Materials

CFL sends a checklist for documentation requirements to the client. From the documentation sources, CFL prepares a comprehensive, clear, and concise description of the client's business and strategy, distilling the key drivers and competitive advantages. This may include business plans, business strategy, single asset or portfolio analysis, growth plan, liquidation plan, debt financing, or an equity capitalization plan.

Financial Modeling

CFL creates detailed financial models for review by the client that complement the plan. The financial model acts as an integrated tool to enable investors, lenders, and capital providers the ability to determine the value proposition and anticipated returns.

Capital Strategy

CFL will present the Plan setting forth strategic options and financial models to the client for review and comment.

Capital Formation

After review by the client of the plan, CFL will assist the client in determining the timing, amount, and optimal capital structure to maximize value.

Investor Identification

Once the plan is complete, CFL will identify appropriate capital sources for the transaction. Often, the appropriate capital sources add value through their relationships or knowledge base. CFL will use its strong and enduring long-term relationships to procure the most appropriate candidates to finance the client's business and/or assets.

Process Management

After narrowing the field, CFL will advise the client on the best potential market terms and negotiate all final terms and conditions of the funding(s) with the capital sources.

Final Strategic Advisory and Execution

Upon an acceptable plan structure, CFL will assist the client in all closing procedures until final funding occurs. Post closing, CFL will remain a resource for the client as needed; including raising additional rounds of capital and providing strategic advice, when requested.

Lawrence J. Selevan

Chief Executive Officer

Lawrence J. Selevan is responsible for the overall direction of the Firm. Mr. Selevan has more than 40 years of experience in real estate investment banking, investment management, principal ownership, and capital markets activities.

During his career, Mr. Selevan has executed $15 billion (plus) in transactions for both US domestic and offshore institutional and private clients, including US REITs, pension fund, fund managers, global investment banks, private family home offices, and Sovereign Wealth Funds.  Prior to the Firm, Mr. Selevan was the CEO of Garrick Aug, Director of Fund Management for Sumitomo Real Estate, Managing Director at Fieldstone, Inc. and the merchant banker for a private family office.   He has moderated several conference panels every year specifically referencing private equity, distressed opportunities, special opportunities, and global infrastructure project finance.  He has worked on projects throughout the world including the US & the Americas, Europe, Africa, and Asia.

Continued

Keith Broemmer

Senior Managing Director

Keith Broemmer is a Senior Managing Director in charge of capital market placement activities of the investment banking assignments of the firm. This includes sourcing debt and equity for clients, as well as directing investments for the firm's principal related activities. Keith has over 25 years of experience in real estate portfolio and asset dispositions, structured equity and debt placements, acquisitions, and advisory. Assignments include hundreds of assets of all property types throughout the United States for an institutional client base of public and private investors. Keith is also a Managing Partner of Assured Realty Capital, Inc., a preferred equity investment platform affiliated with CFL, and heads the underwriting activities including oversight and management of operations and risk management of the portfolio. Keith was previously Managing Partner and Co-Founder of Broad Street Advisors, a real estate advisory firm that was in partnership with GE Capital and later Apollo, and which had a joint-venture relationship with the investment banking groups at Morgan Stanley, Deutsche Bank, and Bear Stearns.

Prior to Broad Street, Keith was a Senior Vice President in the Investment Sales Group of Harbert Realty Services, and marketed commercial real estate assets nationally. Previous to Harbert, Keith was a Vice President at Atlantic Realty Partners, a multifamily focused investment sales firm. Keith began his career as an MAI commercial real estate appraiser.

Continued

Garrett R. Bowden

Managing Director

Garrett R. Bowden career spans three decades in commercial real estate.   His assignments have included the sale of 595 Madison Avenue (The Fuller Building) and the sale of the Saks Fifth Avenue leasehold to the Swiss Bank Corporation in 1986 to create a Class A office building off Fifth Avenue, which earned his team The Real Estate Board of New York’s “Most Ingenious Deal of the Year” award.  He has extensive experience in recapitalizing golf and resort communities.  Previous employers include: Chase Manhattan Bank, Cross & Brown (MetLife), and Sumitomo Real Estate.

Mr. Bowden is an active member of the Real Estate Board of New York, Inc., The Young Men’s/Women’s Real Estate Association of New York (YM/WREA), Advisory Board Member of the Soldier’s, Sailor’s, Airmen’s and Marines Club, The Explorers Club, a Director of the Big Apple Greeter (New York City), a Trustee of the Downtown Association, a former member of the Eckerd College Alumni Advisory Board where he graduated from in 1973, and active in other charitable and philanthropic organizations.

He holds a Masters of International Management (M.I.M.) degree in International Finance and Marketing from the Thunderbird Graduate School of International Management in 1975.

Continued

James Malone

Managing Director

James Malone has more than twenty years of investment and advisory experience encompassing real estate equity and debt transactions, asset management, capital markets, best practices and distressed debt portfolios. Most recently, he was the Managing Partner of Wynnewood Realty Partners LLC, a real estate investment and advisory firm that specializes in buy-side strategy, originations, capital markets execution and debt valuation. In this capacity, he was a senior advisor to Cofinance Group, a Luxembourg-based private real estate investment firm, where he directed commercial acquisitions activity in the United States. He has also advised Vision Equities on capital raising, buy side strategies and originated CBD and suburban office properties.

Previously, he has held senior positions with Sentinel Real Estate Corporation, Greenstreet Real Estate Partners and Arbor Realty Trust where he was involved with the acquisition of more than $750 million of direct equity, joint venture equity and debt investments across various real estate property types. His transactional experience spans various investment disciplines both domestically and internationally. 

James has advised lending institutions since 2009 on distressed debt, REO, best practices and regulatory compliance. His experience encompasses developing and implementing key strategies for clients based on developing best practices, workout and liquidation approaches, portfolio stratification, loan review, impairment and risk analysis and NPL, and credit policy review. He has led or co-lead several advisory assignments, including a project for a Colorado-based community bank on loan administration practices, as well as risk exposure and workout and liquidation policies pursuant to a recapitalization or sale. He has also managed underwriting, impairment, and risk analysis on U.S. commercial and real estate loan portfolios for Swiss National Bank, PPIP advisor, and multiple other clients.

James holds degrees from New York University and Fairfield University. 

Continued

Steven Weiss

Managing Director - Chief Technology Officer

Steven Weiss is a Managing Director of the firm.  He is also the CTO for the firm.  After the 2009 Great Recession, he closed over $400 million in difficult new financings such as land acquisition and ground up construction loans (A&D Loans) for major institutional clients including such notable players as the Bluerock REIT, Savanna, Cohen Equities, plus Vladislav Doronin of OKO Development to build high rise condo and office projects in both Manhattan and Miami CBD locations.  He will continue to finance large scale projects in the US, Mexico, and the Western Hemisphere.  His expertise includes the sale of NPLs, performing, and non-performing loans. 

Steven Weiss is a Managing Director of the firm.  He is also the CTO for the firm.  After the 2009 Great Recession, he closed over $400 million in difficult new financings such as land acquisition and ground up construction loans (A&D Loans) for major institutional clients including such notable players as the Bluerock REIT, Savanna, Cohen Equities, plus Vladislav Doronin of OKO Development to build high rise condo and office projects in both Manhattan and Miami CBD locations.  He will continue to finance large scale projects in the US, Mexico, and the Western Hemisphere.  His expertise includes the sale of NPLs, performing, and non-performing loans.

In his capacity as CTO, he oversees firm’s portal for its HNW investor platform.  He is innovating our deal closing process to streamline the activity and accelerate the closing process.  Steven has long term relationships deploying equity and debt trading platforms for Fortune 100 financial institutions such as Merrill Lynch, Citibank, and Credit Suisse. 

In 1996, he joined ABC News/Disney setting up live computing platforms for Peter Jennings, Barbara Walters, and GMA live broadcasts covering the political elections.  Later, he worked at Interactive Corporation (IAC) formerly USAI (Barry Diller).  There he focused on “inside” investment banking activity (technology integration) as IAC acquired growth technology companies of Ticketmaster, Expedia, and Match working closely with Barry Diller in these acquisitions.  

In 2004, he built the new standard by creating a streamlined online loan auction platform that sold over $2.0 billion of performing, non-performing, REO, and sub-performing loans for lending institutions. The platform was used by The Carlton Group from 2004-2009 with minor upgrades during his tenure.

In 2016, he personally handled all origination and placement activities for the Chairman of The Carlton Group undertaking both direct principal investment and the Chairman’s direct clients.   Steven still retains those relationships.

Steven has the rare combination of business acumen, investment banking experience, and integrating state of the art technology to create highly competitive streamline platform solutions.  As Chesterfield remains in the forefront of creating new financing structures and optimizing capital stacks for corporate and real estate investments, Steven is at the forefront as well.

Steven is a proud alumnist of the University of Delaware where he studied financial management and obtained a Bachelors of Science in Business Administration with a special concentration in Financial Management.

Continued



Chesterfield Faring LTD
Chesterfield Faring LTD

Overview

Overview

Chesterfield Faring, Ltd ("CFL") is a highly entrepreneurial enterprise. Though, CFL's principals are experienced. well seasoned, pragmatic problem solvers, CFL is creative and thinks outside of the box. CFL is opportunity driven, not category or biased positioning.

CFL acts as visionaries seeing opportunities where others fail. CFL will implement a plan (plus contingency plans) and then act as a first mover advantage in those targeted markets. For example, CFL created a CRE debt restructuring platform in March 2007, a full year ahead of the capital markets collapse. CFL was a first mover that led to over $7 billion in debt restructuring assignments for CRE borrowers. That experience allows CFL to see the borrowers vantage point as it acquires larger and larger "leftover" pools of CRE loans being liquidated by major funds and banks currently.

CFL has an active advisory business serving international NGAs, sovereign wealth funds (SWF), and select governments, in the past and currently. Currently and for example, CFL is advising the Republic of Ghana to develops a 21st century mass transit rail system for the country.

CFL acts as a principal, lead originator, underwriter, co-sponsor, asset manager, active investor. Thinking like a principal and investing its own capital side by side with its clients, provides an unique alignment to vet the best deals and at the best pricing, both in acquisition costs and the costs of capital to produce excellent current cash flows (as high as 2% per month) plus long term returns in excess of 20% annually. These investments include the increased value of the companies as well as the underlying assets. The investments are not static so yields can grow as quickly as we can aggregate mass. CFL invests in direct real estate asset(s), real estate portfolios, distressed debt, high yield private preferred equity, real estate companies both publicly traded and privately held, and incubates new smart talent both in the company and in its invested companies. CFL has a core of investors that co-invest in each transaction with CFL.

CFL provides a narrow range of best-in-class merchant banking services to specialty institutional firms, private family home offices, entrepreneurs, and select private clients. CFL is a team structured culture. Each assignment is closely analyzed to determine the best team to be organized to complete the execution.

We invest in people not just assets. Our address is 355 Lexington Avenue, New York, NY 10017.

Alignment of Interests

We align our interests with our clients. It is of great importance to CFL to develop long-term, mutually beneficial, relationships with our clients. We maintain the highest standards of integrity and professionalism to insure that alignment.

Our clients entrust us to provide sound financial advice. We provide a well-executed strategy that promotes and delivers positive results for our clients. We invest equity capital, provide bridge loans, and invest time in our clients to further develop our mutual relationship.

We pride ourselves on being indispensable to our clients’ businesses. We take our clients’ business interests seriously and advocate their positions with logic, precision, and passion.

Independence

CFL is entirely independent and focused on our clients and their objectives. Our advice is unfettered by the internal conflicts and distractions inherent with larger, diversified financial institutions. As an independent, boutique firm, we can provide objective advice to our clients. This includes advising clients not to pursue transactions if they are unwarranted or inappropriate.

Our philosophy has always been: “No one deal is worth losing a client, tarnishing our reputation, or compromising future business."

Our Process

Engagement

Before CFL accepts an engagement, it researches and assesses the efficacy of the client's business model, objectives, mission, sustainability, size, and scope. The firm determines if the client's desired result is achievable. Upon determination of client suitability, CFL appoints the appropriate personnel to meet the client's needs. CFL sets realistic time frames to complete the assignment. The client and CFL execute an engagement letter setting forth services.

Offering Materials

CFL sends a checklist for documentation requirements to the client. From the documentation sources, CFL prepares a comprehensive, clear, and concise description of the client's business and strategy, distilling the key drivers and competitive advantages. This may include business plans, business strategy, single asset or portfolio analysis, growth plan, liquidation plan, debt financing, or an equity capitalization plan.

Financial Modeling

CFL creates detailed financial models for review by the client that complement the plan. The financial model acts as an integrated tool to enable investors, lenders, and capital providers the ability to determine the value proposition and anticipated returns.

Capital Strategy

CFL will present the Plan setting forth strategic options and financial models to the client for review and comment.

Capital Formation

After review by the client of the plan, CFL will assist the client in determining the timing, amount, and optimal capital structure to maximize value.

Investor Identification

Once the plan is complete, CFL will identify appropriate capital sources for the transaction. Often, the appropriate capital sources add value through their relationships or knowledge base. CFL will use its strong and enduring long-term relationships to procure the most appropriate candidates to finance the client's business and/or assets.

Process Management

After narrowing the field, CFL will advise the client on the best potential market terms and negotiate all final terms and conditions of the funding(s) with the capital sources.

Final Strategic Advisory and Execution

Upon an acceptable plan structure, CFL will assist the client in all closing procedures until final funding occurs. Post closing, CFL will remain a resource for the client as needed; including raising additional rounds of capital and providing strategic advice, when requested.



Our Approach



Bios

Lawrence J. Selevan

Chief Executive Officer

Lawrence J. Selevan is responsible for the overall direction of the Firm. Mr. Selevan has more than 40 years of experience in real estate investment banking, investment management, principal ownership, and capital markets activities.

During his career, Mr. Selevan has executed $15 billion (plus) in transactions for both US domestic and offshore institutional and private clients, including US REITs, pension fund, fund managers, global investment banks, private family home offices, and Sovereign Wealth Funds.  Prior to the Firm, Mr. Selevan was the CEO of Garrick Aug, Director of Fund Management for Sumitomo Real Estate, Managing Director at Fieldstone, Inc. and the merchant banker for a private family office.   He has moderated several conference panels every year specifically referencing private equity, distressed opportunities, special opportunities, and global infrastructure project finance.  He has worked on projects throughout the world including the US & the Americas, Europe, Africa, and Asia.

Continued

Keith Broemmer

Senior Managing Director

Keith Broemmer is a Senior Managing Director in charge of capital market placement activities of the investment banking assignments of the firm. This includes sourcing debt and equity for clients, as well as directing investments for the firm's principal related activities. Keith has over 25 years of experience in real estate portfolio and asset dispositions, structured equity and debt placements, acquisitions, and advisory. Assignments include hundreds of assets of all property types throughout the United States for an institutional client base of public and private investors. Keith is also a Managing Partner of Assured Realty Capital, Inc., a preferred equity investment platform affiliated with CFL, and heads the underwriting activities including oversight and management of operations and risk management of the portfolio. Keith was previously Managing Partner and Co-Founder of Broad Street Advisors, a real estate advisory firm that was in partnership with GE Capital and later Apollo, and which had a joint-venture relationship with the investment banking groups at Morgan Stanley, Deutsche Bank, and Bear Stearns.

Prior to Broad Street, Keith was a Senior Vice President in the Investment Sales Group of Harbert Realty Services, and marketed commercial real estate assets nationally. Previous to Harbert, Keith was a Vice President at Atlantic Realty Partners, a multifamily focused investment sales firm. Keith began his career as an MAI commercial real estate appraiser.

Continued

Garrett R. Bowden

Managing Director

Garrett R. Bowden career spans three decades in commercial real estate.   His assignments have included the sale of 595 Madison Avenue (The Fuller Building) and the sale of the Saks Fifth Avenue leasehold to the Swiss Bank Corporation in 1986 to create a Class A office building off Fifth Avenue, which earned his team The Real Estate Board of New York’s “Most Ingenious Deal of the Year” award.  He has extensive experience in recapitalizing golf and resort communities.  Previous employers include: Chase Manhattan Bank, Cross & Brown (MetLife), and Sumitomo Real Estate.

Mr. Bowden is an active member of the Real Estate Board of New York, Inc., The Young Men’s/Women’s Real Estate Association of New York (YM/WREA), Advisory Board Member of the Soldier’s, Sailor’s, Airmen’s and Marines Club, The Explorers Club, a Director of the Big Apple Greeter (New York City), a Trustee of the Downtown Association, a former member of the Eckerd College Alumni Advisory Board where he graduated from in 1973, and active in other charitable and philanthropic organizations.

He holds a Masters of International Management (M.I.M.) degree in International Finance and Marketing from the Thunderbird Graduate School of International Management in 1975.

Continued

James Malone

Managing Director

James Malone has more than twenty years of investment and advisory experience encompassing real estate equity and debt transactions, asset management, capital markets, best practices and distressed debt portfolios. Most recently, he was the Managing Partner of Wynnewood Realty Partners LLC, a real estate investment and advisory firm that specializes in buy-side strategy, originations, capital markets execution and debt valuation. In this capacity, he was a senior advisor to Cofinance Group, a Luxembourg-based private real estate investment firm, where he directed commercial acquisitions activity in the United States. He has also advised Vision Equities on capital raising, buy side strategies and originated CBD and suburban office properties.

Previously, he has held senior positions with Sentinel Real Estate Corporation, Greenstreet Real Estate Partners and Arbor Realty Trust where he was involved with the acquisition of more than $750 million of direct equity, joint venture equity and debt investments across various real estate property types. His transactional experience spans various investment disciplines both domestically and internationally. 

James has advised lending institutions since 2009 on distressed debt, REO, best practices and regulatory compliance. His experience encompasses developing and implementing key strategies for clients based on developing best practices, workout and liquidation approaches, portfolio stratification, loan review, impairment and risk analysis and NPL, and credit policy review. He has led or co-lead several advisory assignments, including a project for a Colorado-based community bank on loan administration practices, as well as risk exposure and workout and liquidation policies pursuant to a recapitalization or sale. He has also managed underwriting, impairment, and risk analysis on U.S. commercial and real estate loan portfolios for Swiss National Bank, PPIP advisor, and multiple other clients.

James holds degrees from New York University and Fairfield University. 

Continued

Steven Weiss

Managing Director - Chief Technology Officer

Steven Weiss is a Managing Director of the firm.  He is also the CTO for the firm.  After the 2009 Great Recession, he closed over $400 million in difficult new financings such as land acquisition and ground up construction loans (A&D Loans) for major institutional clients including such notable players as the Bluerock REIT, Savanna, Cohen Equities, plus Vladislav Doronin of OKO Development to build high rise condo and office projects in both Manhattan and Miami CBD locations.  He will continue to finance large scale projects in the US, Mexico, and the Western Hemisphere.  His expertise includes the sale of NPLs, performing, and non-performing loans. 

Steven Weiss is a Managing Director of the firm.  He is also the CTO for the firm.  After the 2009 Great Recession, he closed over $400 million in difficult new financings such as land acquisition and ground up construction loans (A&D Loans) for major institutional clients including such notable players as the Bluerock REIT, Savanna, Cohen Equities, plus Vladislav Doronin of OKO Development to build high rise condo and office projects in both Manhattan and Miami CBD locations.  He will continue to finance large scale projects in the US, Mexico, and the Western Hemisphere.  His expertise includes the sale of NPLs, performing, and non-performing loans.

In his capacity as CTO, he oversees firm’s portal for its HNW investor platform.  He is innovating our deal closing process to streamline the activity and accelerate the closing process.  Steven has long term relationships deploying equity and debt trading platforms for Fortune 100 financial institutions such as Merrill Lynch, Citibank, and Credit Suisse. 

In 1996, he joined ABC News/Disney setting up live computing platforms for Peter Jennings, Barbara Walters, and GMA live broadcasts covering the political elections.  Later, he worked at Interactive Corporation (IAC) formerly USAI (Barry Diller).  There he focused on “inside” investment banking activity (technology integration) as IAC acquired growth technology companies of Ticketmaster, Expedia, and Match working closely with Barry Diller in these acquisitions.  

In 2004, he built the new standard by creating a streamlined online loan auction platform that sold over $2.0 billion of performing, non-performing, REO, and sub-performing loans for lending institutions. The platform was used by The Carlton Group from 2004-2009 with minor upgrades during his tenure.

In 2016, he personally handled all origination and placement activities for the Chairman of The Carlton Group undertaking both direct principal investment and the Chairman’s direct clients.   Steven still retains those relationships.

Steven has the rare combination of business acumen, investment banking experience, and integrating state of the art technology to create highly competitive streamline platform solutions.  As Chesterfield remains in the forefront of creating new financing structures and optimizing capital stacks for corporate and real estate investments, Steven is at the forefront as well.

Steven is a proud alumnist of the University of Delaware where he studied financial management and obtained a Bachelors of Science in Business Administration with a special concentration in Financial Management.

Continued