BankAtlantic Forms Venture for Commercial Mortgage Services

BOCA RATON, FL-The new venture, based here, will operate under the name BankAtlantic Commercial Mortgage Capital and will complement BankAtlantic's commercial banking loan production. Michael Comparato, previously with Westminster Capital Co., will run the venture.

By Melissa Bogdany | June 22, 2004 at 10:37 AM

BACMC will focus on CMBS/conduit loans in the $5-million to $50-million range, and plans to compete for loans from $2 million to $100 million. The affiliate also plans to compete for traditional commercial real estate asset classes, including office, industrial, multifamily, retail and self-storage facilities. The new venture is planning to have an average 45-day closing date from a loan application execution, according to Comparato.

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