Ascent's middle market push begins.Real estate investment manager, Ascent Real Estate Advisors, has hired Adam Kies to help lead their further penetration into the middle market bridge and mezzanine lending market. Kies, who recently worked as vice president of acquisitions with Carl Icahn and American Real Estate Partners American Real Estate Partners, L.P. (AREP) (NYSE: ACP) is a diversified real estate holding company based in White Plains, New York. History The Sands in Atlantic City and some adjacent property, was sold in November of 2006 for $274. , has significant experience originating and underwriting commercial real estate debt as well as commercial real estate management. Ascent, which recently closed its inaugural debt investment fund, is in the process of launching its second fund. Ascent focuses on the origination and acquisition of bridge loans, mezzanine loans, and preferred equity investments in the range of $2 million to $20 million. Additionally, the fund targets the acquisition of subordinated debt Subordinated Debt A loan (or security) that ranks below other loans (or securities) with regard to claims on assets or earnings. Also known as "junior security" or "subordinated loan". participation interests and CMBS CMBS See: Commercial Mortgage Backed Securities on both a primary issuance and secondary market basis. Separately, another Ascent-sponsored partnership has closed on the sale of its recently completed 32,000 square foot development for Equinox equinox (ē`kwĭnŏks), either of two points on the celestial sphere where the ecliptic and the celestial equator intersect. The vernal equinox, also known as "the first point of Aries," is the point at which the sun appears to cross the Fitness Clubs in Great Neck, New York Great Neck is a village in Nassau County, New York, in the U.S., on the North Shore of Long Island. As of the United States 2000 Census, the village population was 9,538. The Village of Great Neck is in the Town of North Hempstead. . Kies joins Ascent following the recent hiring of Jennifer Healy as analyst, and the company continues to build out its lending team. The operating principals of Ascent are Dean Benjamin and John Porges. |
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