PORTLAND — Spinnaker Trust announced that J. Casey McCormack, Esq., will succeed Chris O’Neil as director of real estate when O’Neil retires at the end of May.
McCormack has extensive and diverse experience in the real estate business, with proven results in advancing all types of real estate projects effectively and efficiently. After earning his BA from Colgate University, he graduated from the University of Maine Law School, JD, magna cum laude. Prior to joining Spinnaker Trust, McCormack was a commercial real estate broker in New York, an affordable housing consultant in the California Bay Area, and most recently a partner at a local law firm, where he represented real estate developers, secured lenders, and tax credit investors. He is also the current co-president of the Colgate Club of Maine.
In his role as director of real estate at Spinnaker Trust, McCormack wants to emulate the way McCormack managed the real estate services group in almost every way. Describing the current market as “hazy” with rising interest rates acting as a headwind amid a historic increase in demand in many types of real estate, he will lead this Spinnaker Trust practice group with focus and discipline from which clients will benefit the most. “I’m honored to continue and expand the work that Chris started,” said McCormack.
Current market trends are clear. “We have experienced significant demand over the past few years for real estate asset management services. Many longtime entrepreneurs looking to retire – or step back – simply needed someone to take on the role of “owner” as they sought to pass their real estate on to the next generation,” said explained McCormack. “That’s where we come in. We find that our work spans the full spectrum of the commercial property lifecycle – acquiring, owning, overseeing and disposing of properties. Clients entrust us, in some cases, with their most precious possessions.
As the only wealth management firm in Maine to offer a suite of advisory services to help clients with their commercial real estate needs, the Spinnaker Trust team includes former real estate attorneys, as well as experts in tax and investment with over 60 years of combined business experience. real estate experience. The real estate services group offers two ranges of specialized commercial offers: real estate asset management services and real estate investment funds, the shares of which are offered only to the company’s clients.
“Our real estate services group has flourished under Chris’s leadership and has enabled us to take a more holistic approach to wealth management, shaping the firm’s philosophy of being invested in each client’s journey as a as a stable and caring partner for present and future generations,” said Amanda. V. Rand, Esq., President, CEO and Director of Spinnaker Trust. “We appreciate his long-term leadership and wish him well.”
Chris O’Neil is grateful to Spinnaker Trust for giving him the opportunity to manage the Real Estate Services Group over the past decade. He has worked in the real estate field since 1988 and intends to remain active in the community.
The company also recently hired Hailee Borino as a Real Estate Support Associate to help with this leadership transition. Hailee has worked in a variety of support roles, including as a field and financial coordinator for a local real estate services company.
Spinnaker Trust is employee-owned and has exceeded $2.5 billion in funds under management over the past year.
Spinnaker Trust is an employee-owned Maine bank licensed as a non-custodial trust company that manages over $2.5 billion for a global clientele. Spinnaker provides a wide range of financial services, including investment management, trust and estate planning, and tax services. Spinnaker brings technical expertise, breadth of knowledge and integrity of judgment, while embracing new technologies to enhance the customer experience. Founded in 2000, Spinnaker guides its clients towards their investment goals, helps them manage and grow their assets, and works hard to ensure their legacy is ready and waiting for future generations. For more information, visit http://www.spinnakertrust.com.