Welcomes New Members to Executive Committee and Board of Governors at Annual Conference

NEW YORK, June 9, 2026 /PRNewswire/ — The CRE Finance Council (CREFC) announced today the selection of Toby Cobb, Co-Founder and Co-Managing Partner of 3650 Capital, as Chair of the CREFC Executive Committee and the Board of Governors for 2026-2027 at its Annual Conference in New York City. A commercial real estate finance industry veteran with more than 30 years of experience, Mr. Cobb succeeds outgoing Chair Leland F. Bunch III, Managing Director and Head of Capital Markets and Banking for Bank of America’s U.S. Real Estate Structured Finance Group.

Mr. Cobb is Co-Founder and Co-Managing Partner of 3650 Capital, where he is jointly responsible for loan origination, capital markets, financing activities, and oversight of 3650 Loan Servicing. He is also a member of the firm’s Investment Committee and serves as Co-CEO of Grass River Property, a 3650 Capital affiliate focused on adaptive reuse and transit-oriented development projects. Throughout his career, Mr. Cobb has held senior leadership positions as Co-CEO and owner at LNR Property, Co-Head of US Real Estate at Deutsche Bank, Donaldson, Lufkin & Jenrette, and Citicorp Securities, helping to shape the evolution of the commercial real estate lending and securitization markets. In June 2025, he received CREFC’s Founders Award, the organization’s highest honor, recognizing his outstanding leadership and contributions to the industry.

“CREFC has long played a critical role in bringing together the diverse participants that make our commercial real estate finance markets work,” said Mr. Cobb. “As our industry continues to navigate changing market conditions and capitalize on new opportunities, CREFC’s commitment to advocacy, education, and industry engagement has never been more important. I am honored to serve as Chair and look forward to working alongside our members, Executive Committee, Board of Governors, and the CREFC team to advance the priorities that support a strong, resilient, and liquid commercial real estate finance market.”

“On behalf of CREFC and our membership, I am pleased to congratulate Toby Cobb on his selection as Chair of the Executive Committee and Board of Governors,” said Lisa Pendergast, President and CEO of CREFC. “Toby’s extensive experience across lending, capital markets, servicing, and investment management, coupled with his longstanding commitment to CREFC and the broader commercial real estate finance industry, make him exceptionally well suited for this leadership role. I would also like to thank Leland Bunch for his outstanding leadership over the past year and for his continued service as Immediate Past Chair.”

In addition to Mr. Bunch’s transition to Immediate Past Chair, CREFC announced the members of its 2026-2027 Executive Committee:

• Chair-Elect: Lissette Rivera-Pauley (Regions Financial Corp.)
• Immediate Past Chair: Leland F. Bunch III (Bank of America)
• Vice Chair: Shannon Erdmann (Apollo Global Management)
• Secretary: Nitin Bhasin (KBRA)
• Treasurer: Adam Behlman (Starwood Property Trust)
• Long Range Planning & Investment Committee Chair: Dan Olsen (KeyBank Real Estate Capital)
• Membership Chair: Jeehae Lee (Bridge Investment Group)
• Policy Committee Chair: Rick Jones (Jackstay Ventures, LLC)
• Program Committee Chair: MJ Potthoff (Morningstar DBRS)

CREFC also welcomes and congratulates the newest members of its Board of Governors:

• Keith Banzhal (Moody’s)
• Brian Carey (J.P. Morgan)
• Nishant Nadella (Derby Lane Partners)
• Meena Pursnani (MetLife)
• Laura Swihart (Dechert)
• Kelly Wrenn (Ballard Spahr) – PAC Co-Chair

“CREFC’s strength comes from the expertise, engagement, and dedication of its volunteer leaders,” added Pendergast. “We are excited to welcome these accomplished professionals to our Board of Governors and look forward to their contributions as we continue advancing initiatives that support the health, transparency, and growth of the commercial real estate finance market.”

About CREFC
The CRE Finance Council (CREFC) is the trade association for the over $6 trillion commercial real estate finance industry with a membership that includes more than 400 companies and 19,000 individuals. Member firms include balance sheet and securitized lenders, loan and bond investors, private equity firms, servicers, rating agencies, and borrowers. For over 30 years, CREFC has promoted liquidity, transparency, and efficiency in the commercial real estate finance markets, and acted as a legislative and regulatory advocate for the industry, playing a vital role in setting market standards and best practices, and providing education for market participants. For more information, visit www.crefc.org.

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SOURCE CRE Finance Council