MIAMI—Locally-based Concord Summit Capital has begun operations. The company is a partnership between Summit Investment Management, Concord Wilshire Companies and Kevin O'Grady, who is also its managing director.

CSC will provide capital market services to the commercial real estate industry, including debt and equity investments. CSC has a national presence and will service clients from its headquarters in Miami, as well as regional offices located in Los Angeles and Denver.

Summit is a private investment firm headquartered in Denver, Colo. Concord Wilshire is a national real estate development and investment company headquartered in Los Angeles. O'Grady was formerly SVP & managing director of Walker and Dunlop.

"South Florida is a dynamic real estate market that has been evolving exponentially for the past 25 years making it another U.S. gateway city," O'Grady tells GlobeSt.com. "It has grown into a 12-month venue and is now a major employment center, not just a recreational city. Not only has there been huge immigration from South American countries due to a friendly Latin culture, but now the typical snowbirds that used to be a backbone for retirement living have given way to migration from other U.S. states where taxes and living conditions make Miami a more amenable place to live. These factors translate to huge demand for services and space utilization that spur development and adaptive re-use opportunities."

O'Grady has more than 40 years of commercial real estate finance and related industry experience. In his combined experience, he has been responsible for the development of more than 10 million square feet of commercial real estate, 23 master-planned housing communities, six million square feet of commercial leasing and more than $20 billion in structured finance closings.

"The Florida markets, particularly South Florida, enjoy the attributes of desirable weather, pro-growth and process-friendly governmental agencies," O'Grady says. "Because of the attraction of the region to foreign countries for primary and secondary housing, there is a more insulated environment to economic shifts that affect other parts of the U.S."

CSC provides three independent services across its investment platform. The Advisory team provides fee-based advisory services for debt and equity transactions for commercial real estate capitalizations, ranging from $3 million to $1 billion. The Investment team acquires distressed assets and non-performing loans from banks and financial institutions across the nation. The CSC Fund One team originates commercial real estate debt and invests in equity structures in transactions ranging from $2 million to $35 million.

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Capital Market Services Provider CSC Launches

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