CCRE is led by an experienced team of real estate professionals, the majority of whom have worked together in the past. CCRE's Senior Managers have extensive track records originating, underwriting, structuring, managing and securitizing commercial real estate loans in various economic cycles.
Property Funds World
Cantor Fitzgerald and CIM launch commercial real estate business
August 12, 2010
Cantor Fitzgerald and CIM Group have launched Cantor Commercial Real Estate, a real estate financing business that will originate underwritten fixed and floating rate mortgages and mezzanine loans secured by real estate assets, predominantly in urban communities in major US markets, and will engage in securitisations of these loans.
Cantor Fitzgerald and CIM will serve as co-general partners. The CCRE management team is led by Anthony Orso, executive managing director of Cantor Fitzgerald.
"By partnering with CIM, an outstanding investor, we are creating an entirely new investment banking model in the commercial mortgage business and are initially targeting annualized loan production of approximately USD5bn," says Orso.
"We have put together one of the preeminent real estate financing teams in the business," says Howard W. Lutnick, chairman and chief executive officer of Cantor Fitzgerald. "And with our partner, we have created an exciting new platform in the CMBS origination and structuring business, something that was traditionally kept in-house by Wall Street. It's a defining moment in commercial real estate lending."
While more than USD230bn in commercial mortgage-backed securities were originated in the US at the peak of the CMBS market in 2007, the aggregate supply of originations dramatically fell to an estimated USD3bn in 2009. CCRE believes the market is poised to become more active, as US commercial property values begin to stabilise and as it is expected that borrowers will need to refinance approximately USD1.4trn of commercial real estate debt maturing over the next four to five years.DOWNLOAD PDF