28th Floor
Boston, MA 02110
Professional Experience
In September 2018, CBRE Group, Inc. (NYSE: CBRE) acquired CB Richard Ellis-N.E. Partners, L.P. (CBRE/New England), a long-standing joint venture with Whittier Partners Group and the leading full-service commercial real estate services operation in New England.
Mr. Prakken is a Senior Vice President with the CBRE/New England Debt & Structured Finance team in Boston. During his 30-plus-year commercial real estate career, Mr. Prakken has completed more than $25.0 billion in financings and capital market transactions for various types of real estate projects.
Mr. Prakken joined CBRE/NE in 1994. Currently, he is responsible for production in the New England market. In this capacity, Mr. Prakken services clients by sourcing debt/equity to capitalize individual or portfolio transactions and by providing advisory services during the documentation process as well as post-closing. Mr. Prakken is an active member of the Debt & Structured Finance team specializing in combined debt and equity placements. Since joining CBRE/NE, Mr. Prakken has originated over $15.0 billion in new mortgage debt including development loans, mezzanine loans, participating debt as well as conventional fixed-rate loans. Prior to joining CBRE/NE, Mr. Prakken was a Senior Vice President at Fleet Bank within its commercial real estate division.
Professional Affiliations / Accreditations
- Member NAIOP, Real Estate Finance Association
Education
- Colgate University, Bachelor of Arts
- Whittemore School of Business Administration, MBA, University of New Hampshire
Significant Transactions
| PROPERTY | SIZE |
TYPE |
VALUE |
| Office/R&D | |||
| 180 Hartwell Road | 400,000 SF | Acquisition - Renovation | $33,800,000 |
| Providence, RI | 210,000 SF | Acquisition - Renovation | $19,150,000 |
| Worcester Business Center | 295,000 SF | Acquisition - Renovation | $16,950,000 |
| Apartments | |||
| The Serenity | 195 Units | Construction | $84,316,000 |
| Neponset Landing | 280 Units | Construction | $74,600,000 |
| The Copley Group | 697 Units | Permanent | $57,000,000 |
| Royal Mills Apartments | 274 Units | Construction | $48,816,000 |
| Mill 240 | 219 Units | Construction | Permanent | $34,900,000 |
| Wellington Parkside | 190 Units | Construction | Permanent | $28,000,000 |
| Industrial | |||
| Industrial Portfolio | 405,000 SF | Acquisition | $12,180,000 |
| Industrial Campus | 216,000 SF | Acquisition | $11,800,000 |
| Specialized | |||
| Foxboro State Hospital | Mixed-Use | Acquisition - Renovation | $31,000,000 |
| 903 Residences (Fractured Condo) | 231 Units | Permanent | $20,000,000 |
| Winthrop Manor (Senior Housing) | 90 Units | Acquisition - Renovation | $15,300,000 |