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Thursday, 29 November 2012

Investment Manager Beefs Up Capital-Markets Capabilities

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Commercial Real Estate Direct Staff Report

Craig Eastmond, a 20-year industry veteran, has joined United Realty Capital, a boutique investment bank in New York, as managing director.

Eastmond, who was a founding principal of Allegiance Investment Advisors, reports to Barry Funt, president of United Realty Capital. He previously was senior vice president of the Northeast region for Deutsche Bank's conduit-lending unit.

United Realty Capital is the capital markets unit of United Realty Partners, a New York investment manager led by Jacob Frydman and Eli Verschleiser, who last year launched an effort to raise $1.3 billion for a non-traded REIT, United Realty Trust Inc. The company will pursue a broad range of commercial properties and debt instruments in the eastern United States. That capital-raising effort received the regulatory green-light in August.

The capital-markets unit would continue a business line that Verschleiser had developed through his Multi Capital Group, which helped clients raise debt and equity for their properties.

Funt, who for more than two decades has been an active participant in the commercial real estate capital markets, joined the firm in September in an effort to build out its capabilities. He served as general counsel of Nomura Securities during the late 1990s, when the investment bank's Capital Co. of America was the most innovative and active player in the CMBS market. He then joined CDC Mortgage Capital, which today is known as Natixis and eventually landed at Knight Capital Group, which he left earlier this year.

United Realty Capital will provide clients with a variety of advisory services and will help them raise debt and equity capital. It could also help United Realty Trust line up potential investments or help it finance its acquisitions, making it an independent advisory shop with principal-investing capabilities.

Its focus will be on the northeastern United States. Its plan is to eventually hire a number of additional professionals to broaden its capabilities.

Comments? E-mail Orest Mandzy, or call him at (267) 247-0112, Ext. 211.


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Additional Info

  • Syndicate to Realpoint: No
  • Subject: Institutional Investment (INS)
  • Private: No
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