LOS ANGELES-Chevy Chase, MD-based CapitalSource has expanded toLos Angeles with the opening of a new office in Downtown L.A. andhas named Vishal Vanjani as director to lead the office in a movethat reflects the gradually increasing availability of capital asthe financial markets recover. Vanjani has already started buildinghis L.A. team, with Benjamin Rotter joining CapitalSource from LeggMason Real Estate Investors.

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CapitalSource provides commercial real estate loans ranging infrom $10 million to $50 million on properties in the multifamily,office, retail, industrial and hospitality sectors. Before joiningCapitalSource, Vanjani was a director in originations at the LosAngeles office of Natixis Real Estate Capital (formerly IXIS RealEstate Capital and CDC Mortgage Capital). Chris Kelly,CapitalSource’s managing director of the Real Estate Group,comments that the opening of the office in Los Angeles “showcasesCapitalSource’s commitment to building a strong presence on theWest Coast.”

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Kelly cites Vanjani’s more than 15 years of experience instructuring commercial real estate finance solutions. “Heunderstands the market in Southern California and is well-knownamong the local real estate community,” says Kelly, who adds thatCapitalSource plans to grow its presence here.

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Earlier in his career, Vanjani held positions with a number ofcompanies active in the commercial real estate space, includingHFF, JPMorgan Chase, Wachovia Bank, Nomura Asset Capital Corp. andFremont Investment and Loan. Kelly comments further on theCapitalSource expansion in Los Angeles: “During the volatileeconomic climate of the past few years, nearly every majorlender—as well as a number of banks—exited the commercial realestate arena. As market conditions have improved, loan volume hasstarted to come back, and with it the need for lenders with localmarket knowledge and relationships.”

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