FS Investments Launches Finance REIT

PHILADELPHIA—Alternative asset manager FS Investments said Wednesday it had formalized its commercial real estate platform, launching a REIT and hiring Rob Lawrence to lead the firm's real estate efforts. The non-listed FS Real Estate Income Trust will originate, acquire and manage a portfolio of senior loans secured by commercial properties located mainly in the US.

Named managing director and global head of real estate for FS, which has some $20 billion in assets under management, Lawrence will oversee the firm's real estate initiatives and help manage FS Credit REIT in partnership with its sub-adviser, Rialto Capital Management LLC. The 25-year veteran of CRE investment is based in New York and reports to Mike Kelly, president and CIO of FS Investments, as part of its investment management team.

Lawrence most recently served as executive managing director at Singer & Bassuk, a boutique real estate finance firm. Before that, he was senior managing director and co-head of origination at Guggenheim Commercial Real Estate Finance, where he led and managed the origination platform for CMBS and affiliated life companies.

Previously, Lawrence held several high-level positions at JPMorgan Chase and Bear Stearns. Specifically, he served as managing director and head of the securitized products group in Asia for JPMorgan Chase. Before Bear Stearns merged with JPMorgan Chase in 2008, he was its senior managing director and co-head of origination, and a founding member of Bear Stearns' global CMBS department.

FS Credit REIT focuses primarily on floating-rate mortgage loans that are secured by first priority mortgages on transitional commercial real estate properties and has already closed on initial investments totaling over $43 million. It's advised by FS Real Estate Advisor, LLC and sub-advised by Rialto, which has originated over $7.8 billion of commercial mortgage loans since its inception.

PHILADELPHIA—Alternative asset manager FS Investments said Wednesday it had formalized its commercial real estate platform, launching a REIT and hiring Rob Lawrence to lead the firm's real estate efforts. The non-listed FS Real Estate Income Trust will originate, acquire and manage a portfolio of senior loans secured by commercial properties located mainly in the US.

Named managing director and global head of real estate for FS, which has some $20 billion in assets under management, Lawrence will oversee the firm's real estate initiatives and help manage FS Credit REIT in partnership with its sub-adviser, Rialto Capital Management LLC. The 25-year veteran of CRE investment is based in New York and reports to Mike Kelly, president and CIO of FS Investments, as part of its investment management team.

Lawrence most recently served as executive managing director at Singer & Bassuk, a boutique real estate finance firm. Before that, he was senior managing director and co-head of origination at Guggenheim Commercial Real Estate Finance, where he led and managed the origination platform for CMBS and affiliated life companies.

Previously, Lawrence held several high-level positions at JPMorgan Chase and Bear Stearns. Specifically, he served as managing director and head of the securitized products group in Asia for JPMorgan Chase. Before Bear Stearns merged with JPMorgan Chase in 2008, he was its senior managing director and co-head of origination, and a founding member of Bear Stearns' global CMBS department.

FS Credit REIT focuses primarily on floating-rate mortgage loans that are secured by first priority mortgages on transitional commercial real estate properties and has already closed on initial investments totaling over $43 million. It's advised by FS Real Estate Advisor, LLC and sub-advised by Rialto, which has originated over $7.8 billion of commercial mortgage loans since its inception.