The fund's goal is to "take advantage of the current creditdislocation and achieve above average returns for itself byacquiring existing performing real estate assets at a discount."The acquisition parameters of CSV Capital are as follows: thepurchase of loans ranging in amounts from $25 to $50 million perindividual transaction, and up to $150 million per transaction forlarge portfolios; all asset types--except hotels will only beconsidered if included in a portfolio of diverse assets--65% to 85%market adjusted loan-to-value for last dollar invested; and mostlyfloating rate loans but will consider purchasing fixed-rate loanswith maturities no greater than 10 years


CSV Capital intends to continue purchasing discounted mezzanineloans, B-Notes, participation interests, mortgage and mezzaninewhole loans and preferred equity interests in performing assetssecured by real estate located in major markets across thecountry.


According to a prepared company statement, "CSV Capital has acompetitive advantage over other 'vulture' distressed andopportunistic funds currently in the market due to its lower costof capital and its affiliation with a major insurance company. CSVCapital's lower cost of capital will enable it to purchase assetsat a lower yield than its competitors while still being able toachieve its targeted returns."


As previously reported, CSV has already acquiredmore than $300million in secondary market B-note, mezzanine and preferredequity loans in 10 stand alone transactions and has a great deal ofexperience in pricing, underwriting and quickly closing these typesof investments. A company source told at the time thatthe $300-million closing was a follow-up to Carlton's formation of the new$1-billion fund.

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Natalie Dolce

Natalie Dolce, editor-in-chief of and GlobeSt. Real Estate Forum, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel,, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including and Museums New York magazine.