Charles Street Capital Announces Formation Of Real Estate Investment Company.SOUTHBOROUGH, Mass. -- Charles Street Charles Street is the name of a north-south street in the city center of Boston, Massachusetts. It begins in the north at Leverett Circle, where it intersects Cambridge Street and Storrow Drive, and gives its name to the Charles/MGH station of the MBTA. Capital today announced its formation as an investment company focused on commercial real estate opportunities in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. and Canada. Charles Street Capital was founded by Jerry Quill quill: see pen. , formerly a Managing Director with GE Real Estate, the global real estate business of General Electric, where he was responsible for loan acquisitions, joint ventures, and M&A transactions. "Strong real estate fundamentals in many North American North American named after North America. North American blastomycosis see North American blastomycosis. North American cattle tick see boophilusannulatus. markets together with low financing costs continue to create attractive investments," said Jerry Quill. "We see a major opportunity in the U.S. debt market, specifically purchasing assets from lenders that have grown their portfolios rapidly over the past few years and have a need to reduce or rebalance real estate exposure." Charles Street Capital's initial investment vehicle targets the acquisition of loans from existing real estate lenders in the secondary market, such as banks, insurance companies, and government agencies. The firm's management team has substantial experience in the loan acquisition market gained through over $2.4 billion of transactions since 2002. "We believe purchasing loans generates superior 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. for our investors compared with buying properties in some of today's high Today's High The intra-day high trading price. Notes: In other words, this is the highest price that a stock traded at during the course of the day. More often than not this is higher than the closing price. See also: Today's Low priced markets," said Quill. Charles Street Capital's investment criteria covers multiple property types, fixed or floating rate loans, and a full range of performance characteristics, including performing, subperforming, and nonperforming loans. The firm is evaluating a pipeline of investment opportunities and expects the loan sale market to grow significantly in coming years as a result of the recent expansion in commercial real estate credit by both regulated and nonregulated lenders. |
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