The Bluestone Group Expands Lending Platform with Top Executive Hire

NEW YORK, Oct. 1, 2014 /PRNewswire/ -- The Bluestone Group, a leading real estate investment firm in the New York tri-state area, today announced the hiring of Charlie Terrasi to lead ongoing operations and the company's expanding bridge and structured financing platform. Most recently a Vice President at Dime Savings Bank of Williamsburg, Mr. Terrasi will serve as Bluestone Group's Chief Operating Officer.

Mr. Terrasi's addition to The Bluestone Group's executive team is a part of the continued expansion of the firm's rapidly growing lending platform that focuses on financing complex and time-sensitive real estate investment transactions. His vast real estate lending experience will enable the team to deliver the creative financing options, favorable terms and flexibility its clients have come to expect. In addition to his lending expertise, Mr. Terrasi's strong background in financing commercial real estate and dealing with distressed loans will also be utilized by the company as it pursues new acquisition opportunities.

Eli Tabak and Marc Mendelsohn, founding partners at The Bluestone Group, are confident that Mr. Terrasi is a great fit.  "We've had the opportunity to work closely with Charlie over the years and we are excited to have him join our team of talented professionals. He makes an excellent addition to the firm's executive team," said Mr. Mendelsohn. Mr. Tabak added, "As Bluestone grows its deal volume and as our business model expands, we believe that Charlie will perfectly complement both our business expansion needs as well as our rapidly growing organization."

Mr. Terrasi is a distinguished banking and real estate professional with over 12 years of experience in commercial lending, construction financing, commercial and industrial loans, workouts, and the disposition of non-performing loans. Prior to joining The Bluestone Group, he was a Vice President in the Commercial Lending Department and Head of the Special Assets Group at Dime Savings Bank of Williamsburg. Over the course of his career he has successfully originated in excess of $1 Billion in commercial mortgages, as well as the disposition and workout of $150 + million of non accrual loans. He holds a Bachelor of Business Administration with a concentration in Marketing from Pace University.

About The Bluestone Group

The Bluestone Group is a private investment firm that was formed to capitalize on increasing prospects in the opportunistic real estate market.  Bluestone specializes in taking advantage of value-add scenarios such as under-managed properties, developing markets and distressed assets.

Bluestone invests in opportunistic situations, distressed properties, sub-performing debt and equity, and non-performing commercial mortgage loans.

Bluestone has been very active in the pursuit of NPL's in the New York tri-state area, closing in excess of $300,000,000 in transactions in the past year.  Bluestone continues to seek opportunities in the distressed debt and REO arena as well as traditional commercial real estate opportunities.  For more information please visit: www.bluestonegrp.com

For additional information please contact Barry Altmark via email
Or
Roxanne Donovan at Great Ink Communications via email
Jimmy Lappas at Great Ink Communications via email
212-741-2977

SOURCE The Bluestone Group