MC Asset Management Holdings, LLC and Five Mile Capital Partners LLC Announce the Launch of a Commercial Mortgage Joint Venture
Wednesday 25th July, 2012, Stamford CT – MC Asset Management Holdings, LLC (MCAMH) and Five Mile Capital Partners LLC (FMC) today announced the launch of a joint venture company, MC-FMC Commercial Real Estate Finance Management LLC.
MC-FMC Commercial Real Estate Finance Management LLC, through a subsidiary, will underwrite and originate commercial mortgages to be contributed to CMBS securitization pools. Mitsubishi Corporation (parent of MCAMH), through an affiliate, is providing a $100 million financing facility to capitalize the joint venture, which with third-party leverage will give the joint venture the capability to originate over $1 billion of loans annually.
As an investor, Mitsubishi Corporation has had a long relationship with Five Mile Capital. “We are very pleased to have this opportunity to partner with Five Mile Capital in this business. They have an excellent reputation in the commercial real estate sector,” said Mr. Kenji Kobayashi, Chief Operating Officer at MCAMH.
The commercial real estate industry was hard hit in 2007-08, but is showing signs of recovery. According to the National Association of Realtors May 2012 Commercial Real Estate Outlook, “With fundamentals improving and investments growing, the commercial real estate market is poised to offer good performance into the remainder of 2012.”
“We are excited to be partnering with Mitsubishi Corporation on this venture, particularly at this time. The U.S. commercial real estate market is facing an impending wall of maturities at a time when traditional originators and underwriters are still stressed. This joint venture will provide a vehicle through which MCAMH and FMC can capitalize on this opportunity, and is a natural extension of our existing real estate businesses in the U.S.,” said Mr. Konrad R. Kruger, Managing Member, FMC.
About MC Asset Management Holdings, LLC – MCAMH is an alternative asset management firm that provides alternative investment products to global institutional investors. MCAMH is a subsidiary of Mitsubishi Corporation, one of the largest global integrated enterprises in the world with businesses in industrial finance, energy, metals, machinery, chemicals, foods and environmental. MCAMH is headquartered in Stamford, Connecticut.
About Five Mile Capital Partners LLC – FMC, with over $2 billion of assets under management, is an alternative investment and asset management company established in 2003. FMC specializes in investment opportunities in commercial real estate, debt products, structured finance, asset-based lending and financial services private equity. FMC’s Principals have significant experience, knowledge and skills relevant to the financial services industry and believe the cyclical and dynamic nature of the sector continually provides a broad opportunity for investments across the capital structure. FMC is headquartered in Stamford, Connecticut.
For further information or requests for interview, please contact:
Scott MacDonald/Mike Carroll
MC Asset Management Holdings, LLC
Tel (203) 487-6700 smacdonald@mcahd.com mcarroll@mcahd.com
MC Asset Management Holdings, LLC and Five Mile Capital Partners LLC Announce the Launch of a Commercial Mortgage Joint Venture
Wednesday 25th July, 2012, Stamford CT – MC Asset Management Holdings, LLC (MCAMH) and Five Mile Capital Partners LLC (FMC) today announced the launch of a joint venture company, MC-FMC Commercial Real Estate Finance Management LLC.
MC-FMC Commercial Real Estate Finance Management LLC, through a subsidiary, will underwrite and originate commercial mortgages to be contributed to CMBS securitization pools. Mitsubishi Corporation (parent of MCAMH), through an affiliate, is providing a $100 million financing facility to capitalize the joint venture, which with third-party leverage will give the joint venture the capability to originate over $1 billion of loans annually.
As an investor, Mitsubishi Corporation has had a long relationship with Five Mile Capital. “We are very pleased to have this opportunity to partner with Five Mile Capital in this business. They have an excellent reputation in the commercial real estate sector,” said Mr. Kenji Kobayashi, Chief Operating Officer at MCAMH.
The commercial real estate industry was hard hit in 2007-08, but is showing signs of recovery. According to the National Association of Realtors May 2012 Commercial Real Estate Outlook, “With fundamentals improving and investments growing, the commercial real estate market is poised to offer good performance into the remainder of 2012.”
“We are excited to be partnering with Mitsubishi Corporation on this venture, particularly at this time. The U.S. commercial real estate market is facing an impending wall of maturities at a time when traditional originators and underwriters are still stressed. This joint venture will provide a vehicle through which MCAMH and FMC can capitalize on this opportunity, and is a natural extension of our existing real estate businesses in the U.S.,” said Mr. Konrad R. Kruger, Managing Member, FMC.
About MC Asset Management Holdings, LLC – MCAMH is an alternative asset management firm that provides alternative investment products to global institutional investors. MCAMH is a subsidiary of Mitsubishi Corporation, one of the largest global integrated enterprises in the world with businesses in industrial finance, energy, metals, machinery, chemicals, foods and environmental. MCAMH is headquartered in Stamford, Connecticut.
About Five Mile Capital Partners LLC – FMC, with over $2 billion of assets under management, is an alternative investment and asset management company established in 2003. FMC specializes in investment opportunities in commercial real estate, debt products, structured finance, asset-based lending and financial services private equity. FMC’s Principals have significant experience, knowledge and skills relevant to the financial services industry and believe the cyclical and dynamic nature of the sector continually provides a broad opportunity for investments across the capital structure. FMC is headquartered in Stamford, Connecticut.
For further information or requests for interview, please contact:
Scott MacDonald/Mike Carroll
MC Asset Management Holdings, LLC
Tel (203) 487-6700
smacdonald@mcahd.com
mcarroll@mcahd.com