The new investment management subsidiary will establish high-yield private funds for third parties and CDP Capital, CWCapital's parent company, to make investments in both fixed and floating rate CMBS subordinate securities and B-Notes for commercial real estate debt. The company also expects to create a mezzanine debt opportunity fund. The subsidiary will be located at CWCapital's locally based headquarters. The company also has a Western regional headquarters office in Newport Beach, CA.
Nolan will work with Spetka to grow the platform and will also oversee the real estate credit underwriting process. The firm emphasizes that its new investment management venture will enable CWCapital to offer its borrowers and mortgage brokers a unique advantage. "With the addition of the high-yield debt platform to our product line, we've achieved an important milestone-a vertically integrated approach to business," says Michael Berman, president of CWCapital. "CWCapital will be one of the only commercial conduit lenders in the country to offer a full set of services to our borrowers and network of mortgage brokers. In addition to underwriting, closing, and servicing, we will now be holding the B-Piece on our own fixed rate and bridge loan products."
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