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SANTA CLARA, CA-Cornish & Carey Commercial/ONCOR International is positioning itself to capitalize on the growing number of distressed assets caused by the current financial environment. The company said Friday it has created C&C Capital Advisors, a special assets services division within the C&C Capital group.

The group is led by C&C Capital founders Brad Zampa and Matthew Gum, and C&C Commercial president Erik Doyle. It is assisting lenders and investors with the purchase and sale of performing and sub-performing loans and REO assets, and with the placement of recapitalization equity and mezzanine debt. For the time being, specific clients and assets are being held close to the vest.

“We’re working with lenders on deleveraging assets on their balance sheets,” Zampa tells GlobeSt.com. “It’s still early; everything we are working on at the moment is off-market, we’re not listing it to the world.”

Zampa and Gum, who together launched Cornish & Carey Capital in 2005, have collectively secured over $6 billion in permanent, bridge, mezzanine, and sale/leaseback debt, along with joint venture equity for clients investing in office, industrial, flex/R&D, retail, and multifamily real estate. Their relationships include life insurance companies, pension funds, investment banks/CMBS, merchant banks, Fannie Mae/Freddie Mac, opportunity funds, and other private sources.

“While our relationships with lenders and investors remain strong, the economic conditions have changed drastically,” Zampa said. “For the first time since the 1980′s, owners are challenged to maintain occupancy and profitability in an environment where lending has decreased significantly. Distressed assets will require capital in a climate where most lenders are more motivated to clear their balance sheets than to fund additional capital.”

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