Claudia Steeb is a managing director in the Pittsburgh office of JLL Capital Markets, Americas. She joined JLL as part of the HFF acquisition and has more than 30 years of experience in commercial real estate finance and investment advisory. She is primarily responsible for originating debt and equity transactions throughout the eastern United States and focuses on retail, office and self-storage properties and portfolio transactions. Throughout the course of her career, she has completed more than $14 billion in commercial real estate transactions. She has also underwritten, evaluated, financed and sold numerous regional malls.
Claudia started at HFF in June 1995. Before that, she was an originator with Lane, Noland Smith & Co. (now Grandbridge Mortgage), after working for five years at U.S. Steel Corporation in the Realty Development and Audit divisions.
It is little surprise that underwriting has gotten more conservative during the pandemic, but deals are still penciling in.
Insurance companies and local and regional banks led the way toward getting retail deals done in 2020, according to Claudia Steeb, managing director, capital markets, JLL Americas. “They have flexibility, tend not to have significant exposure in any particular asset class and are able to arbitrage the market so when competitors pull out, they can jump in and gain extra yield for their portfolio.”