CREMAC goes back to commercial real estate

Asset management firm CREMAC, focusing in real estate securities and debt instruments, just announced the launching of its whole loan trading platform for discounted commercial real estate loans. This marks the Brooklyn-based firm's return to the commercial real estate mortgage market. Between 1995 and 2001, CREMAC invested in over $750 million of distressed commercial mortgage loans.In a company release, CREMAC President Joseph Cafiero stated that launching this trading platform is directly tied to increasing opportunities in the commercial mortgage sector and CREMAC's ongoing efforts to raise equity capital. CREMAC is currently building $50 million in equity for an opportunity fund, ultimately leveraging as much as $200 million of purchase power. The fund's focus will be small balance U.S. commercial real estate mortgage loans between $1 million and $10 million.