The Pembrook Group Is Actively Searching for Lending Opportunities in Commercial Real Estate
NEW YORK, July 10, 2009 — The Pembrook Group, LLC ("Pembrook"), a commercial real estate debt investment management company with a core focus on community-based real estate finance, is seeking to deploy up to $500 million over the next 24 months for commercial real estate debt opportunities within primary, gateway, and urban markets, and other infill locations with high barriers to entry.
"The ongoing credit market dislocation has created compelling opportunities for lenders," said Stuart Boesky, Founder and CEO of Pembrook. "I believe that Pembrook can capture extraordinary value for our investors, while maintaining stringent underwriting and core investment parameters."
Pembrook originates and acquires commercial real estate debt in the form of first mortgages, participating first mortgage loans, B-notes, and mezzanine loans in major markets across the United States. Target asset classes are multifamily, retail, and multi-tenant office, medical office and warehouse / distribution properties with well-diversified tenancy. Pembrook also participates in the distressed debt markets and will venture with developers buying back their own debt or third-party debt.
Mr. Boesky went on to add, "The prolonged credit crisis is putting intense pressure on owners of fundamentally sound commercial real estate, as they deal with problematic capital structures resulting from tighter credit standards and falling real estate values. We foresee tremendous opportunities for those investors who are patient and well-capitalized."
Pembrook, founded in March of 2007, has approximately $260 million of assets under management and has made investments in CA, FL, GA, LA, NY, NJ, PA, and WI, the majority of which have community development attributes.
The Pembrook Group is a commercial real estate investment management and development company that provides capital to developers and owners of real estate on a national basis through the acquisition and/or origination of real estate debt and equity. The company also seeks to serve as a pioneer in community investments, providing capital to underserved property sectors and underserved geographic locations such as assets in urban locations, and affordable housing. Through Pembrook Community Capital, Pembrook also focuses on additional community-related opportunities such as New Market Tax Credits and Clean Energy Finance. The firm was founded by Stuart J. Boesky, the former Chief Executive Officer of CharterMac (now Centerline Capital Group), who led that firm to become one of the largest real estate financial services firms in the nation. Pembrook is engaged in an ongoing strategic partnership with Mariner Investment Group, LLC, a major institutional Investment Advisor focused primarily on alternative investment strategies that along with its affiliates manages more than $10 billion in assets.
Contact:
John Garth
Managing Director
T: 646-388-5938
F: 646-388-5907
Email
http://www.pembrookgroup.com
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