There is currently a large opportunity in the New York City Metropolitan area to acquire first mortgage bridge loans and non-performing debt secured by commercial properties.
Greenwich, CT (PRWEB) February 06, 2013
Corigin Capital, LLC Managing Director, Greg Gleason headlined the Ivy Family Office Network Greenwich, CT Forum with a discussion on “Finding Yield in a ZIRP Environment.” The Forum was held on January 24th in Greenwich, CT.
According to Mr. Gleason, “There is currently a large opportunity in the New York City Metropolitan area to acquire first mortgage bridge loans and non-performing debt secured by commercial properties. Many of these loans are available from lending institutions that need to divest assets. Corigin sees tremendous opportunities to realize returns against assets that are below intrinsic values.”
In many cases, banks have provided limited marketing and there is a smaller buying audience for these types of assets. The ability to be flexible and provide multiple paths such as restructuring, note re-sale and property level execution are key to generating the best results. The nature of these loans is generally short term with compelling risk adjusted metrics.”
Mr. Gleason is Managing Director of Corigin Capital, where he is responsible for overseeing the investment sourcing, underwriting and asset management operations. Prior to joining Corigin, Mr. Gleason held various positions in opportunistic real estate acquisitions and asset management at DLJ Real Estate Capital Partners (DLJ), a $4 billion global real estate private equity manager. During his tenure at DLJ, Mr. Gleason participated in the investment of over $400 million of the fund’s equity capital, including bridge lending, distressed debt, securitized debt, preferred equity, and development joint venture equity transactions.
He graduated from Emory University with a BA in Economics and has been a CFA Charterholder since 2007. Mr. Gleason previously served as a member of the Board of Directors for the Real Estate Finance Association (REFA) in Boston.
Corigin Capital LLC is a member of Corigin Real Estate Group, a vertically integrated real estate owner/operator that has invested over $300 million of proprietary capital into five million square feet of real estate. Corigin Capital executes and oversees real estate backed bridge lending and non-performing loan acquisition and resolution transactions. For more information on Corigin Capital contact Louis Hanna at Lhanna(at)corigin(dot)com.
Other speakers on the panel included: Azhar Quader of Queens Court Capital, LLC, Jerry Levy of Tricadia-GraniteRidge and Mark Samuel of Post Road Fund Advisors.
The Ivy Family Office Network New York Forum is part of an ongoing dialogue with family offices to provide high-value education and information on trends for family office investing, structure and operational excellence. Attendees gain practical strategies and solutions to achieve both short and long-term objectives. The program features off-the-record, peer-to-peer discussions in a non-commercial setting, in-depth and highly interactive sessions.
About The Ivy Family Office Network
The Ivy Family Office Network, IvyFON, is a leading peer to peer global family office network with several hundred family offices attending their events within the past 12 months. Some of the more than 1,000 past speakers have included 5 of the top 10 leading asset allocating consultancies by size, pre-eminent alternative investment funds by return, leading institutional investors by size, best-in-class asset management professionals, family office subject matter experts and world-class family offices. Forum sessions are multi-format and cross-disciplinary covering a range of family office centric topics.
IvyFON’s expertise is an outgrowth one of the United States’ oldest and largest alternative investment networks, the IvyPlus network, which was started as a peer to peer private equity, real estate and hedge fund network consisting primarily of Ivy League alumni but inclusive of other participants who had attended more than 50 globally comparable programs or through merit are worthy participants in the program. Additionally the IvyPlus network supports deal networks across multiple disciplines including private equity, venture capital and real estate. More than 10,000 investment, family office and institutional investment professionals have attended IvyPlus forums globally.
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