Alternative investment firmInvictus Capital Partners has announced it's starting a commercialreal estate credit division. The Washington, DC-based firm hashired Ricardo Koenigsberger and Kenneth Witkin as senior managingdirectors and co-presidents to build and manage the commercial realestate credit arm, called Invictus Commercial Real EstateFinance.

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The move will broaden Invictus'real estate debt investments beyond residential mortgages, said thefirm's CEO, Michael Warden. "Since our inception, we've had aprimary focus on the residential mortgage world and felt now wasthe opportune time to make a concentrated effort to expand ourparticipation in the commercial real estate space," Wardensaid. 

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Invictus Commercial Real Estate Finance will cover the fullrange of commercial real estate debt investments, including thesecondary market for whole loans and bonds, and direct commercialmortgage lending.

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Because of the recent economicdisruptions in response to COVID-19, the new division willparticularly focus on investments in the hospitality sector,according to Invictus, due to "the significant inefficiencies anddislocation in this market segment."

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 Founded in 2008,Invictus participates in a range of real estate debt investments,including high-yielding and distressed bonds and loans.

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Koenigsberger and Witkinpreviously served as co-CEOs of CV Holdings, Inc., a real estateinvestment trust that acquires and manages residentialnon-performing loans and REO properties in the United States. Itssubsidiaries handle equipment lease financing and commercial realestate bridge loans.

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Koenigsberger has a background inreal estate private equity, previously holding partner positions atROCA Management and Apollo Real EstateAdvisors. 

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Witkin's background in realestate banking includes senior executive and partner positions atthe Realty Finance Corp and its predecessor company, CBRE RealtyFinance, as well as FleetBoston Financial, and then the commercialreal estate banking group at Bank of America after it acquiredFleet Boston. He was also a partner at the Roseview Group, aBoston-based real estate investment firm that merged with MadisonMarquette last year. Witkin began his banking career in 1974 atCitibank.

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Meredith Hobbs

Meredith Hobbs writes about the Atlanta legal community and the business of law. Contact her at [email protected] or 404.419.2837. On Twitter: @MeredithHobbs.