New York, NY (11/18/2016)
NGKF Capital Markets National Loan Sale Advisory Group is pleased to announce the sale of CCRE's $112 million fully-performing, adjustable-rate loan portfolio, collateralized by a variety of high-quality commercial and multihousing assets in Georgia, West Virginia, California and North Carolina. The Loan Sale Advisory team of NGKF Capital Markets, led by Executive Managing Directors Steven Schultz and John Howley, represented the seller, CCRE, in the transaction. The buyers consisted of a mix of private equity groups and regional banks. The loans ranged in size from $7.5 million to $49 million.
CCRE, a fully-integrated commercial real estate finance company, specializes in providing financing solutions and expertise to the real estate community. The firm provides underwritten fixed- and floating-rate mortgages and mezzanine loans secured by diverse asset types in most major US markets.
"The timing of the market cycle and our strong directed marketing campaign made for a very attractive investment opportunity for the buyers with such a geographically diverse portfolio," said Schultz.
"The Loan Sale team has an in-depth understanding of complex loan sales and we were confident in their ability to effectively market the sale and execute the best transactions," stated CCRE's CEO Anthony Orso.
About Newmark Grubb Knight Frank
Newmark Grubb Knight Frank is one of the world's leading commercial real estate advisory firms. Together with London-based partner Knight Frank and independently-owned offices, NGKF's 14,100 professionals operate from more than 400 offices in established and emerging property markets on six continents.
With roots dating back to 1929, NGKF's strong foundation makes it one of the most trusted names in commercial real estate. NGKF's full-service platform comprises BGC's real estate services segment, offering commercial real estate tenants, landlords, investors and developers a wide range of services including leasing; capital markets services, including investment sales, debt placement, appraisal, and valuation services; commercial mortgage brokerage services; as well as corporate advisory services, consulting, project and development management, and property and corporate facilities management services. For further information, visit www.ngkf.com.
NGKF is a part of BGC Partners, Inc., a leading global brokerage company servicing the financial and real estate markets. BGC's common stock trades on the NASDAQ Global Select Market under the ticker symbol (NASDAQ: BGCP). BGC also has an outstanding bond issuance of Senior Notes due June 15, 2042, which trade on the New York Stock Exchange under the symbol (NYSE: BGCA). BGC Partners is led by Chairman and Chief Executive Officer Howard W. Lutnick. For more information, please visit http://www.bgcpartners.com/.
CCRE is a fully-integrated commercial real estate finance company providing innovative financing solutions to the real estate capital markets. CCRE originates competitively underwritten fixed and floating-rate mortgages and mezzanine loans secured by diverse asset types in most major U.S. markets. CCRE is capitalized by strong institutional sponsorship including affiliates of CIM Group and Cantor Fitzgerald, L.P., and is led by an experienced team of real estate professionals with extensive track records originating, structuring, managing and distributing commercial real estate loans in various economic cycles. For more information, visit www.ccre.com.