Minerva Realty Consultants



Minerva Realty Consultants, LLC is an advisory firm that provides independent credit rating and capital structure analysis for clients contemplating accessing the public markets. Minerva’s disciplined process guides listed and non-listed real estate firms through the rating process and enables small to mid-cap private companies to explore IPOs by mapping out the optimal approach to going public.

Based in New York City, Minerva is led by Merrie Frankel, a seasoned real estate capital markets, REIT, tax and legal executive.  Through its affiliation with real estate advisory firm RCLCO, Minerva possesses global resources and reach unmatched in the industry. We believe that independence matters. Our only agenda is to help you get the results that you desire.

Contact us today at (646) 868-6232 or MFrankel@MinervaRC.com.

Our Distinguished Services:

  • Independent advice regarding the entire ratings process   
  • Independent credit and capital structure analysis
  • Tailored rating presentations
  • Management preparation for rating agency meetings
  • Optimization and structuring of REIT IPO strategies for small to mid-cap companies

Which are:

  • Fact-based and analytical
  • Organized around a seamless, disciplined process
  • Incorporates the nuances of different agencies
  • Tailored to our clients specific circumstances
  • Managed rather than overseen by senior partners

Our Guiding Principles:

  • To set the performance bar as the preeminent firm in the REIT and rating advisory business
  • Offer extremely tailored, personalized service
  • Mobilize a powerful network of contacts and associates on behalf of our clients
  • Prove the value of independence each day



Core Values You Can Count On

Core Values You Can Count On





Merrie Frankel

Merrie S. Frankel

(646) 868-6232

Merrie brings almost 40 years of investment banking, tax, and legal experience to her projects, including 18 years working as a REIT analyst at a rating agency. She has worked with over 70 REITs/REOCs throughout her career.

Current Positions:

  • Agree Realty Corporation – Director, Audit Committee Member
  • Columbia University’s Graduate School of Architecture, Planning and Preservation and New York University’s Schack Institute of Real Estate – Adjunct Professor

Key Past Positions Include:

  • Moody’s Investors Service – VP/Senior Credit Officer – REIT Analyst
  • Argo Funds – Senior Vice President/Portfolio Manager
  • Ernst & Young – Senior Manager
  • Cushman & Wakefield – Director
  • JP Morgan Securities, Inc. – Officer
  • Salomon Brothers Inc. – Tax Attorney and Real Estate Investment Banker

Affiliations & Qualifications:

    • Urban Land Institute – Women’s Leadership Initiative (WLI) – Current ULI-New York WLI Steering Committee; Past WLI National Executive Committee; Past ULI Trustee and Chair of ULI New York
    • NY Women Executives in Real Estate (WX) – Treasurer of WX Charitable Fund; Past Secretary of WX Inc.
    • Financial Women’s Association of NY (FWA) – Past Chair of Nominating Committee; Past Co-Chair of the Directors/Corporate Governance Committee; Past Secretary, Executive Committee/Board Member
    • Martha Graham Dance Company – Board Member
    • Real Estate New York – One of 50 “Women of Influence” for 2008
    • NAREIT and Real Estate Media – Editorial Advisory Board Member
    • Frequent Conference Speaker; Interviewed by Wall Street Journal, NPR, etc.; Journal and Book Submissions
    • Hofstra University Schools of Law and Business – J.D./M.B.A.
    • University of Pennsylvania – B.A. in English with Various Honors




Industry Thoughts

Westfield Acquisition Article
Thoughts on Unibail-Rodamco’s Acquisition of Westfield
By Merrie Frankel and Ellen Sinreich

Read Now >>



Contact Us Today!

Minerva RC

(646) 868-6232


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