Mandri Capital was founded by Max Friedman to serve as an investment and advisory platform focused on acquiring, improving, and operating commercial real estate properties in the United States.
Max’s business passions include anticipating the unexpected, as well as, winning in the face of complexity and adversity. The firm’s bedrock principles of integrity, precision, and teamwork are rooted in Max’s success in leading sport teams, and winning championships at the highest level.
Institutional Experience / Global View
For the past decade, Max worked at several boutique commercial real estate investment banking firms in Los Angeles – structuring and arranging senior debt, mezzanine debt, preferred equity, and joint-venture transactions for middle-market operators and investors nationwide.
Most recently, Max managed a team that was fully responsible for marketing and processing complex financial arrangements (including all underwriting / structuring, deal packaging, capital placement, and closing) in a fast-paced environment – in many cases arranging joint-venture equity relationships for sponsors that were not attractive to institutional capital in the past. Deal sizes typically ranged in the $20M to $50M, involving multiple sources of capital.
Before entering the real estate market, Max worked as an analyst at Goldman Sachs in the Equity Derivatives group in New York.
Max has lived in Europe and South America. He speaks Spanish and can communicate in Portuguese.
He resides in Santa Monica, California with his wife Patricia and their three children. On weekends, you can find him hiking in the Santa Monica Mountains or watching Premier League soccer.
Max completed his (bilingual) MBA from IESE Business School in Barcelona, Spain. He has a master’s degree in International Affairs from Columbia University in New York, and a bachelor’s degree (with honors) from Tufts University in Boston.
Kate Miller joins Mandri Capital with over 20 years of experience in commercial real estate financing.
Kate graduated Lake Forest College and began her career as a loan officer at Bank of America Securities in Chicago within the Real Estate Banking Group. She went on to join JP Morgan Capital Markets team as an Originator for CMBS in Chicago. In 2005, Kate was promoted to Senior Vice President and opened JP Morgan’s San Francisco office and managed the Northwest region. During her tenure at JP Morgan, Kate participated in over $3 Billion dollars in loan origination and securitization.
Kate moved to Los Angeles in 2008 and consulted for Situs and Credit Suisse. Kate joined Mosaic Real Estate Investors in 2016 as Senior Vice President of Investments where she originated over $200 million in senior and mezzanine loans and preferred equity investments for land development, ground-up construction, value-add opportunities of various asset types for the private real estate fund. Most recently, Kate worked as a Senior Originator for Revere Capital where she originated bridge loans for the private investment fund.
Kate has extensive experience in loan origination, underwriting, legal negotiation, closing and securitization of all classes including entitled land, hospitality, office, apartment, student housing, retail, and industrial properties in markets across the nation.