Bridger Commercial Funding Receives Strategic Investment from Banc of America Securities.Business Editors REPEATING... SAN FRANCISCO--(BUSINESS WIRE)--Oct. 23, 2002 Bridger Commercial Funding announced today that Banc of America Securities LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control has made a strategic investment in the company that will enable Bridger to expand its CMBS CMBS See: Commercial Mortgage Backed Securities origination and BankXchange loan trading business lines. The investment follows a 21-month relationship during which Bridger participated in six securitizations managed by Banc of America Securities. These transactions totaled more than $6.8 billion, with Bridger's contributions exceeding $665 million. Terms of the investment by Banc of America Securities were not disclosed. "As Bridger's lead investment banker Investment Banker A person representing a financial institution that is in the business of raising capital for corporations and municipalities. Notes: An investment banker may not accept deposits or make commercial loans. for nearly two years and a leader in the CMBS market, Banc of America Securities has noticeably influenced Bridger's expansion and evolution," said Bob Schonefeld, Bridger CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. . "It has provided a consistent channel through which Bridger contributes loan collateral originated by the firm's nationwide network of commercial bank clients. At the same time, Bridger garners enhanced market diagnostics that we use to improve our success and our clients' success," Schonefeld added. "One important barometer of this added value Added value in financial analysis of shares is to be distinguished from value added. Used as a measure of shareholder value, calculated using the formula:
Now more than ever, Schonefeld sees a close alignment between Bridger and its strategic partner. "As the leading independent CMBS originator and the industry's leading expert in aggregating CMBS product through banks, Bridger will enter 2003 with an extremely strong foundation for growth for both of our business lines, and we expect to avail ourselves of more opportunities in the real estate financing arena with this new backing," he said. Bridger Commercial Funding (www.BridgerFunding.com) is the leading commercial real estate capital markets resource serving the U.S. banking industry, with over 900 bank relationships nationwide. Bridger's innovative products and technology applications help banks maximize their risk-adjusted returns Risk-Adjusted Return A measure of how much risk a fund or portfolio takes on to earn its returns, usually expressed as a number or a rating. Notes: This is often represented by the Sharpe Ratio. The more return per unit of risk, the better. by accessing the secondary mortgage market. Bridger's commercial mortgage-backed securities Commercial mortgage-backed securities (CMBS) are a type of bond commonly issued in American security markets. They are a type of Mortgage-backed security which are backed by mortgages on commercial rather than residential real estate. (CMBS) loan origination The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. program enables banks to boost financial performance by generating substantial fee income while retaining and enhancing borrower relationships. In addition, Bridger's BankXchange(TM) program optimizes banks' loan portfolio risk profiles and returns by facilitating purchases and sales of loan portfolios, whole loans and participations. Through a growing network of over 3,100 commercial loan officers nationwide, Bridger is the commercial real estate banking's premier provider of secondary market origination and trading solutions. |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion