- Mr. Schrager is a principal and co-founder of Eightfold Real Estate Capital. He has more than 29 years of real estate management, financing and structuring experience.
Prior to forming Eightfold, Mr. Schrager served for 18 years as an executive at LNR Property, most recently as Chief Operating Officer (COO). As COO he was responsible for the operations and management of LNR’s various divisions. Previously, he was the President of LNR’s Real Estate Finance and Servicing Division, which is primarily focused on special servicing, CMBS investment and joint venture activities. During his career with LNR and its predecessor, Lennar Corporation, Mr. Schrager also directed the Real Estate Asset Management Department, managed due diligence efforts for new acquisitions, assisted in portfolio financing and securitization efforts and negotiated loan workouts and restructurings. In addition, Mr. Schrager opened and managed the company’s western regional office in Los Angeles and assisted in the establishment of operations in Tokyo.
Mr. Schrager went to Lennar from Chemical Bank (now JPMorgan Chase) in New York, where he served as Vice President. At Chemical, he restructured a $300 million portfolio of troubled loans to national real estate developers. Earlier in his career at Chemical, he originated, structured and closed secured real estate transactions in which Chemical acted as a principal; managed client relationships; sold participation interests in the secondary market; and was involved in a variety of investment banking transactions. Mr. Schrager also worked as a consultant with the Boston Consulting Group in Boston and ICF Incorporated in Washington, D.C.
Mr. Schrager received a Bachelor of Arts degree in Economics from the University of Pennsylvania, where he was elected to Phi Beta Kappa, and a Masters degree in Business Administration from Harvard Business School.
He served for seven years as a member of the Board of Governors of the Commercial Real Estate Finance Council, the principal trade group for the commercial mortgage backed securities industry. He is an adjunct professor in the real estate LLM program at the University of Miami School of Law, teaching courses in commercial real estate securitization and commercial real estate loan workouts.
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