AmericaVest CRE Selects James E. Meehan as Managing Director of Origination
Ft. Lauderdale, Fla. (PRWEB) July 18, 2013 -- AmericaVest CRE Mortgage Funding Trust, Inc. [AmericaVest] a newly formed Maryland corporation that intends to qualify as a Real Estate Investment Trust (“REIT”) for U.S. federal income tax purposes, announced today that James E. Meehan has joined the firm as a Managing Director of Origination.
Meehan, 49, will be responsible for relationships and opportunities development amongst the developer, portfolio manager, asset owner/borrower and brokerage communities.
AmericaVest specializes in originating or acquiring and holding for investment senior whole mortgage loans secured by small to midsize commercial and multi-family U.S. real estate properties. Most of the firm’s investments will be “bridge” commercial loan funding.
Robert Damigella, Co-CEO of AmericaVest CRE, explained that the likelihood of the next major U.S. financial crisis to be triggered by the need to fund the nearly $2 trillion of commercial real estate mortgages maturing between 2013 and 2017, generated a compelling need for alternative financing sources for U.S. commercial borrowers. AmericaVest has strategically and aptly positioned itself to take advantage of this unique opportunity, as a non-bank private lender focused on providing CRE bridge capital for refinancing and initial funding purposes.
“We are very pleased that James has joined our team,” Damigella said. “The significant dislocation between traditional bank lending and sponsors’/borrowers’ needs is poised to endure. James’ in-depth market knowledge and expertise in developing and maintaining relationships with borrowers and other industry professionals will undoubtedly play an instrumental role in the success of AmericaVest. I am confident that James’ extraordinary talent to identify and analyze attractive opportunities and customize viable financing solutions to meet borrowers’ needs will significantly add to our bottom line.”
According to Nelson Garcia, Co-CEO of AmericaVest CRE, in light of the persevering decline in traditional bank lending, a substantial number of U.S. borrowers do not have a clear strategy in place or knowledge of viable alternative solutions to refinance their commercial mortgage debt.
“James and our entire team are ready to provide solutions to this serious challenge by rapidly deploying financing strategies fully customized to a borrower’s needs,“ stated Garcia. “Because of his comprehensive background and commercial real estate finance expertise, James’s role will be critical in helping AmericaVest distinguish itself from other non bank lenders, due not only to its financing abilities, but also to the high caliber of its management team and the intellectual capital and skills that characterizes our organization.”
Commenting on his new position, Meehan said, “I am very excited to have joined an organization so uniquely well-positioned to grow and thrive in our industry. AmericaVest possesses an exceptionally entrepreneur-centric culture, which is exemplified by its dedication to empower commercial borrowers with viable alternative financing solutions to solve their short-term borrowing needs. This is a true and innovative differentiator, one of the key factors that influenced my decision to assume this role.”
Meehan has more than two decades of experience of institutional lending and structured finance experience. Prior to joining AmericaVest CRE, practiced law with Slaughter and May, was managing director at Cantor Fitzgerald, served as managing director at NewOak Capital, principal at the boutique hedge fund Rubicon Risk Analytics, LLC and also principal at Resolute CRE, a boutique commercial real estate origination platform servicing the larger capital markets. Meehan holds a Bachelor of Arts from the University of Alberta, a Masters of Business Administration from London School of Economics and a Latin Legum Baccalaureus (LLB) from Dalhousie and Cambridge School of Law.
About AmericaVest CRE Mortgage Funding Trust
AmericaVest CRE Mortgage Funding Trust, Inc. is a Maryland corporation that will qualify as a Real Estate Investment Trust (“REIT”) for U.S. federal tax income purposes. Our primary business is to originate, acquire and hold for investment senior mortgage loans secured by commercial and multi-family real estate properties, which in the United States are considered to be “Alternative Mortgage” assets. The majority of our investments are commercial loan funding (“bridge loans”). The AmericaVest group of companies (“AmericaVest Group”) was initially established in 2006 to take advantage of opportunities within the U.S. commercial and residential real estate, as well as alternative finance sectors. Our founders and management possess more than 75 years of collective experience in the finance, mortgage and real estate industry. More information can be found at http://www.americavest.net.
Forward Looking Statements
This press release contains forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Examples of forward-looking statements include projected financial information, statements of our plans and objectives for future operations and statements concerning proposed operating strategies. In some cases, you can identify forward-looking statements by the use of terminology such as “may,” “will,” “should,” “could,” “expects,” “plans,” “intends,” “anticipates,” “believes,” “estimates,” “predicts,” “potential” and other comparable terminology. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, performance or achievements. Actual events or results may differ materially.
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Claudio Pannunzio, I-Impact Group, Inc., http://www.i-impactgroup.com, (203) 532-5881, [email protected]
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