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PHILADELPHIA-Locally based Remington Financial Group haslaunched BlueStone Real Estate Capital, a new commercial realestate investment banking firm. It picks up where parent Remingtonleaves off to target loans ranging from $10 million to $1 billionto the nation's largest owner/developers, REITs and institutionalborrowers in the US.
BlueStone will be run by Remington's most experienced andproductive staff, according to Matthew McManus, chairman of bothcompanies. For the past 14 years Remington has focused on loans ofbetween $500,000 and $10 million. It has provided funding for TowerInvestments' the Edge at Avenue North here, for example, amongother area projects.
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