Currently, Llenrock is focusing on providing capital in the$20-million to $200-million range as well as brokerage services,Benioff says. "That is our sweet spot." Placement goals for thisyear are fairly modest--ranging between $115 million to $200million. Benioff is already working on some transactions including"a number of multifamily transactions on both debt and equity side,some office on the mezz and equity side, a fairly large number ofhotel deals from equity to construction debt to acquisition debtand both equity and acquisition debt for a large retail portfolio."Capital sources to which the firm is offering access include publicand private joint venture equity, high net worth individuals,international and US banks, pension and hedge funds, life insurancecompanies and both domestic and foreign-based credit companies.

There are two executives currently staffing Llenrock; besidesBenioff--who was managing partner and head of the hospitality andleisure finance group at BlueStone Real Estate Capital, JosephCacciapaglia is director of investments. He has worked as afinancial analyst for both United Dominion Realty Trust andBrandywine Realty Trust, and as an associate at BlueStone RealEstate Capital.

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Erika Morphy

Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.