Meet Jeremy Starkey, President of Commercial Real Estate Finance 

Jeremy focuses on developing and managing banking relationships with commercial real estate investors and developers and providing comprehensive financing solutions for all asset classes of commercial real estate. He has more than 2 decades of banking industry experience and joined TowneBank in 2016. 

Jeremy holds a Bachelor of Business Administration in Finance from James Madison University and is a graduate of the Virginia Bankers School of Bank Management and the RMA-ECU Commercial Credit and Lending School.

Q: What exactly is commercial real estate finance?   

A: We work with members in a variety of industries on their commercial real estate needs, from retail, office, and industrial spaces to multi-family housing and hospitality projects. Our goal is to provide guidance and support during the acquisition, development, construction, and refinancing of commercial real estate.

Q: How does commercial real estate finance help our members?  

A: Our members make a living by buying, developing, owning, and managing commercial real estate investments. Our financing gives them the flexibility to operate and grow their business to optimize success for them, their employees and investors, and the local economy. 

Q: What differentiates TowneBank from other banks?  

 A: At TowneBank, we strive to be efficient, responsive, and reasonable.  Very rarely do you find an institution that excels in all three areas. Our focus on local decision-making in each market we serve allows us to adapt a tailored approach for each member’s unique circumstances, versus a cookie cutter approach to the market or asset class. 

Q: If someone were debating between banking at TowneBank and another bank, why should they choose TowneBank?  

A:  At TowneBank, we have an ingrained desire and unmatched ability to provide timely and workable solutions to complex situations. We work closely and individually with our members, thus understanding the needs of their business or project. 

Q: Describe a time when you helped a member out of a difficult situation or helped to solve a problem for them.

 A: Working through obstacles is integral to the exquisite service we provide. Finding and crafting solutions is an everyday occurrence. 

Q: What is your favorite thing about what you do?  

 A: I enjoy developing strong relationships with our members that transcend projects and day-to-day challenges.  

Q: What are three traits that define TowneBank?  

 A: Caring. Local. Lasting. 

Q: Name something you’ve learned from one of your members.  

 A: When you buy quality, you only cry once. 

Q: Where do you see changes coming in commercial real estate in the next 2-3 years? 

 A: The recent rapid rise in short-term interest rates is negatively affecting the feasibility of construction projects. Additionally, we expect some measurable decline in consumer spending that will impact the ability of property owners to grow commercial rents across all asset classes. Increased vacancies in office, retail, and even industrial projects are likely in the next two to three years. We’re currently working closely with our members to identify potential challenges and opportunities.