Two property investment firms have come together to create a new commercial mortgage lender.
Cantor Fitzgerald and CIM Group have come together to offer new
commercial mortgage lending opportunities.
The Cantor Commercial Real Estate (CCRE) will be providing
property investment firms with fixed and floating-rate mortgages, as well as mezzanine loans, while also engaging in the securitisation of these types of loans.
Management will be provided by Cantor while CIM will provide the bulk of the investment, Property Week Reports.
"By partnering with CIM, an outstanding investor, we are creating an entirely new investment banking model in the commercial mortgage business," said the new platform's chief executive officer Anthony Orso.
He added that the combined strengths of the two companies mean that they will be able to offer superior capital markets execution.
UK lender Leeds Building Society recently announced its intention to increase its mortgage lender to the private and commercial sector to £1 billion in 2010, after reducing its exposure to the commercial market and boosting profits.
Posted by Lisa Fear.
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