December 16, 2010, BisNow
Cantor Fitzgerald and CIM Group launched Cantor Commercial Real Estate in September to originate fixed- and floating-rate mortgages and mezz loans for diverse asset types. On Thursday, we spoke with senior managing director Michael May to get the latest.
CCRE most recently closed a $146M portfolio of assets in a dozen states. The company has a pipeline of $8B in deals it’s underwriting, he says. By year-end, it anticipates closing half a billion dollars in loans, from $5M to more than $100M. The deals span multifamily, office, industrial, retail, and student housing. “We’re looking at any good real estate loan anywhere in the country,” he says, which it can distribute through CMBS, syndication, private placement, or other structure. The company anticipates doing $5B to $8B over the next 12 months. BTW, Michael’s one of the panelists on tomorrow’s Bisnow LA State of the Market at the Hyatt Century Plaza Hotel in Century City.