Thank you for sharing!

Your article was successfully shared with the contacts you provided.

CHEVY CHASE, MD-In a deal valued at about $98 million, commercial finance company CapitalSource Inc. acquires Washington, DC-based residential real estate lender CIG International LLC. The move–in which CIG holds on to its name, and CapitalSource holds on to CIG’s management team–allows CapitalSource to augment its offerings under its Structured Finance group.

“We are committed to expanding our real estate lending activities in unique niches within the commercial real estate finance landscape,” CapitalSource CEO John K. Delaney says. “CIG has established itself as a leader in mezzanine financing for residential development projects and provides CapitalSource with a new and unique product to offer to the market.”

Established nearly two decades ago, CIG has made quite a name for itself facilitating small loans for condominium, townhome and single-family projects from Florida to New York and parts of the south, as well. The company has completed over $500 million in transactions over the last ten years, about 75% of which involve multifamily properties. At the time of the acquisition, which closed July 1, CIG had about $100 million in outstanding loans.

“CIG had been a client of ours for three years,” Michael C. Szwajkowski, managing director of CapitalSource’s Structured Finance group, tells GlobeSt.com. “We financed them, so we know the company well, and indirectly, we know all their clients.” He adds that, because CIG’s management team will remain intact, “the transition will be totally seamless for the clients; they won’t miss a beat.” As for future aspirations, Szwajkowski says the company expects to grow the CIG portfolio by $100 million over the next 12 to 18 months.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.