BOSTON, MA - CW Financial Services (CW), a leading commercial real estate debt, equity and investment management company, has completed a successful year of growth and diversification in 2011, further solidifying the company’s position as one of the fastest growing and most diversified real estate platforms in the U.S. The firm’s growth strategy has encompassed strategic acquisitions, platform enhancements and strategic hiring in all of its business areas.
In May 2011, CW acquired substantially all of the assets of Rockwood Real Estate Advisors (Rockwood). This strategic acquisition allowed CW to significantly strengthen its vertically integrated platform and provide clients with a broader range of advisory and transactional services, including investment sales, note sales, debt and equity financing and a broad range of real estate advisory services. Headquartered in New York City, the Rockwood team, led by President Dan McNulty, also heightens CW‘s visibility in the NY market while bringing a wealth of intellectual resources to CW’s already rich professional team.
Just weeks after the Rockwood acquisition, CW further expanded its client offerings by hiring a team of former Capmark and Ventras Holding executives to lead the development of alternative means of financing, including conduit, bridge and mezzanine lending programs, for commercial and multifamily properties. The team has also been instrumental in the successful launch of the firm’s life company lending platform in 2011, which to date has secured relationships with 16 life companies.
CW’s multifamily debt platform, CWCapital, continued to enhance and diversify its multifamily lending platform through several key hires throughout the year, adding some of the industry’s top talent to launch Senior Housing and Affordable Housing initiatives and opening a New Jersey office. CWCapital, led by President and CEO Michael Berman, had its strongest year to date, closing approximately $4 billion in loans. The record volume secured the company’s position as a Top Ten Producer with Fannie Mae, Freddie Mac, and HUD. CW also acquired the servicing rights for a $2.6 billion small loan portfolio comprised of approximately 2,200 Fannie Mae multifamily loans, increasing CW’s loan servicing portfolio to approximately $16.5 billion.
CWCapital Asset Management (CWCAM), CW’s industry-leading asset management platform, continued its growth as well by hiring leading industry executives to further broaden its reach and grow the subsidiary’s third-party client base. CWCAM, led by President David Iannarone, remains one of the largest and most highly regarded special servicers in the industry. In 2011 CWCAM resolved $7.4 billion of loans encompassing over 600 assets and currently manages a portfolio of 11,800 loans representing over $153 billion in commercial and multifamily real estate. CWCAM has successfully resolved some of the highest profile and most complex assets in the country.
Charles Spetka, Chief Executive Officer of CW Financial Services, commented on the company’s accomplishments in 2011 as well as his strategic vision for the firm. “This was a year of significant growth for CW. We look forward to leveraging the institutional knowledge, breadth of services and capabilities that we have amassed in 2011 to develop the most favorable, client-specific real estate solutions. We will continue to grow and to expand our offerings in an effort to better serve our clients, as well as to further position our platform for success in 2012 and beyond.”
CW Financial Services LLC (CWFS) is a unique, vertically integrated commercial real estate finance and investment management company offering a diverse range of services to investors in commercial and multifamily real estate debt. CWFS’ business platforms collectively encompass all aspects of the real estate capital structure, providing CWFS and its clients with the expertise, experience and resources needed to develop the most successful real estate strategies. CWFS employs approximately 460 employees in 17 offices across the country and provides transactional services, lending and servicing, advisory/research services, and special servicing through four subsidiaries – Rockwood Real Estate Advisors, CWCapital LLC, CWCapital Investments LLC and CWCapital Asset Management LLC.