Adam Ehrenreich joined OakNorth as an Associate Director of Debt Finance in September 2025, bringing over six years of CRE and construction lending experience from Cross River Bank. Based in New York, he focuses on the tri-state market and beyond, originating across asset classes with a particular emphasis on construction and transitional lending. We caught up with him to hear what drew him to OakNorth and what the first year has looked like. 

Q: What made OakNorth the right next step in your career?  

Adam: I’d actually worked on a couple of transactions alongside OakNorth before joining, which gave me firsthand exposure to how the team operates. I came away with a real appreciation for the leadership, the mindset, and the ability to execute. So, when conversations about joining came up, they felt very natural. Ben Barbanel‘s vision for the US business was what really sealed it for me. 

What also stood out was the platform’s flexibility.  At OakNorth we have the opportunity to look at a much broader range of markets and asset classes while still maintaining disciplined underwriting. 

Q: You’ve closed several loans totalling more than $98 million in the first half of 2026. What has that process taught you about how OakNorth operates in practice? 

Adam: The first few months were about learning the platform, understanding how the credit team evaluates risk, what matters most in underwriting, and how OakNorth approaches transactions differently. Once that foundation was in place, things accelerated quickly. 

What’s genuinely surprised me is the level of market interest in OakNorth. As a lender expanding its US presence, we’ve been able to build relationships with borrowers and brokers who are actively curious about what makes us different. That curiosity creates real opportunities, and those five deals were the result of a true team effort across origination, credit, legal, and operations. 

Q: After being involved in over $650M in construction and CRE loans, what separates a good deal from a great one? 

Adam: The sponsor. Commercial real estate is often described as asset-based lending, but in my experience the sponsor matters more than the asset itself. The first question I ask isn’t “is this a great property?” It’s “are these the right people to execute this business plan?” Do they have the experience? Do they understand their market? Have they navigated challenges before? 

A great deal is where all of that comes together: a strong sponsor, a well-conceived project, and a market with solid fundamentals. OakNorth’s approach aligns closely with that philosophy. We’re backing experienced operators with thoughtful business plans, not simply financing attractive real estate. 

Q: You’ve worked across the full loan lifecycle, from origination through post-closing servicing and site inspections. How does that shape the way you approach new deals? 

Adam: It means our team is thinking several steps ahead from the moment we look at an opportunity. We’re already considering how the deal will move through underwriting, what questions credit will ask, how the closing will unfold, and what challenges could arise during construction. That perspective helps us identify stronger opportunities earlier and prepare borrowers more effectively for what’s ahead. 

For anyone building a career in this space, I’d strongly recommend taking that same path. It requires patience, but understanding the full loan lifecycle makes you a more thoughtful, credit-oriented lender in the long run. 

Q: What’s your read on the tri-state CRE market right now? 

Adam: Strong. Like any market, it goes through natural cycles, and there’s never a shortage of headlines predicting a slowdown or an exodus from New York. But in practice, we’re still seeing a significant amount of activity across the tri-state area and sustained demand driven by chronic housing undersupply. The fundamentals are there. 

Q: What does it take to succeed in construction lending specifically? 

Adam: Equal parts discipline and adaptability. Construction lending is a marathon, not a sprint. Every project evolves. Budgets shift, material costs fluctuate, timelines move. The key is maintaining rigorous underwriting while staying practical enough to recognise that change is part of the business. You have to evaluate every change order and every adjustment without losing sight of the bigger picture. 

Borrowers remember the institutions that navigate those situations thoughtfully. Banks that combine strong credit discipline with a genuinely collaborative approach earn trust, build long-term relationships, and ultimately win more business. 

Q: What are you most looking forward to building at OakNorth? 

Adam: The brand. OakNorth is already generating real buzz in the market. People know us from our work in the co-lending space. The goal now is to become a household name in US CRE lending, with a reputation for speed, flexibility, and execution. That’s what we’re building toward.