X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

(Read more on the debt and equity markets.)

NEW YORK CITY-Locally based, iStar Financial Inc., a finance company focused on the commercial real estate industry, closes on its previously announced transaction with Santa Monica, CA-based, Fremont Investment & Loan, a subsidiary of Fremont General Corp. As GlobeSt.com previously reported in May, iStar will now acquire the commercial real estate lending business of Fremont in a $1.9-billion, all-cash transaction.

“The combination of Fremont’s and iStar’s commercial real estate organizations expands our geographic reach, almost doubles the number of our employees and creates one of the strongest construction lending and direct loan origination platforms in the industry,” says Jay Sugarman, iStar’s chairman and CEO.

After giving affect to the Fremont transaction, iStar has nearly $20 billion in assets under management and 350 real estate professionals in 11 regional investment offices throughout the US plus its European subsidiary based in London.

“These transactions provide a major turning point for Fremont General. The transaction with iStar allows us to exit our existing commercial real estate lending business while retaining an earning asset that provides a bridge to the development of new lending businesses,” notes Louis Rampino, CEO of Fremont.

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
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt

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 © 2021 ALM Media Properties, LLC. All Rights Reserved.