National investment firm Castle Lanterra launches CL credit opportunities; Plans to provide $500 million in equity financing
Industry stalwart James Glasgow has joined the company as Chief Investment Officer and Head of the newly launched platform
Suffern, New York, November 13, 2023 /PRNewswire/ — In response to volatility in capital markets and a slowdown in lending, Castle Lanterra (CL), a leading… New YorkToday, the National Real Estate Investment Company announced the launch of CL Credit Opportunitiesa new debt platform focused on the origination and acquisition of mezzanine and preferred shares, with plans to roll out 500 million dollars in stocks over the next 12 months. In what is a major win for the company, the platform will be headed by industry veteran James Glasgow, who joins CL as Chief Investment Officer (CIO). The announcement was made by Eli Reeder, CEO and Founder of CL.
As CIO, Mr. Glasgow, one of the most recognized investment and capital markets executives, will have broad responsibilities including investments, capital markets and portfolio management and will have direct oversight of all new investments across every asset class in every segment. Of debt and equity. Mr. Glasgow, along with his team of five investment professionals, will focus on special situation opportunities through a variety of strategies, including rescue capital, distressed and high-yield debt, and REO/bankruptcy.
“Given current market dynamics, more selective lending standards and higher interest rates, we are witnessing a liquidity crisis affecting owners, developers and investors,” Mr. Reeder said. “We believe we have a tremendous opportunity to offer our expertise in mid-market debt and equity, as well as the ability to create customized financing programs for investors. We are thrilled! It is a huge win for CL to appoint a CEO from “James’ ability reflects our commitment to this new platform that will help clients To complete value-added projects, repay upcoming loans at high interest rates or simply provide much-needed liquidity.”
Mr. Glasgow comes to CL after serving as Founder and CEO of BLT Green Hollow, a private placement focused commercial real estate investment platform that he founded in 2019. He has extensive experience in investment strategies including new construction, repositioning, distressed debt, and equity Money saving, value added. Together with his team, Mr. Glasgow also managed the implementation of business plans and the final disposition of matters 6 billion dollars of total assets since 2007, including completion of comprehensive development and repositioning of office, retail, multifamily and residential conversions.
Prior to founding BLT Green Hollow, Mr. Glasgow was President and Co-Portfolio Manager of Building & Land Technology (BLT), a leading vertically integrated real estate firm headquartered in Stamford, CT. During his tenure with BLT, he was responsible for managing every aspect of the combined equity portfolio of over 7 billion dollars In assets including offices, hotels, multifamily properties, residential units and retail properties.
From 2003 to 2016, Mr. Glasgow was a partner and portfolio manager at Five Mile Capital Partners, where he was responsible for all of its commercial real estate activities and was responsible for two private equity commercial real estate funds totaling $20.0 billion in equity commitments, led a team of 10 investment professionals, and invested in 54 separate transactions for a total value of over 6 billion dollars During a period of six years.
Mr. Glasgow’s team, which includes some of the most experienced executives in the industry, will focus on debt originations. Among the members who have joined are Mr. Glasgow Christopher Sadiq And Raymond Yenwho were directors of BLT Green Hollow, and were responsible for the acquisition and management of the company’s commercial real estate assets; Ivan Chen, Chris ComerfordAnd Ryan Glasgow They join the firm, as partners, to support senior investment professionals.
“My team and I are very excited to join Eli and his experienced team of investment professionals,” said Mr. Glasgow. “We can implement a successful CRE credit strategy targeting the need for mezzanine, preferred equity and bridge capital to capitalize on opportunities from the current market turmoil resulting from historically high interest rates and current market dynamics. We will work seamlessly with CL’s talented team to not only provide new capital opportunities for clients but Also to manage existing investments.”
“Castle Lanterra wants to acknowledge the vital role that Steve Litman, President and Managing Partner of Rhodes Associates, played as a strategic advisor in not only connecting us with Jim and his team, but in strategically planning this new debt and special situations platform based on the realities of investing in… Real estate in today’s market.
About Lanterra Castle
Formed in 2009 by Eli ReaderCastle Lanterra (CL) is a privately held real estate investment trust focused on rezoning multifamily communities, acquiring new, high-quality properties, and pursuing emerging investment opportunities in strategic growth markets throughout United State. Mr. Ryder has bought and sold tens of thousands of residential units throughout the development United State He is also responsible for managing his family office diversified across asset classes. With an emphasis on intrinsic value, downside protection and a focus on achieving stable cash flows through implementing material and operational improvements, CL aims to maximize investment potential and provide attractive risk-adjusted returns to its investment partners. Since the beginning, CL has completed more 3 billion dollars of transaction volume across 12,000 multifamily units and more than 890,000 square feet of commercial space.
Media Contact: Lanterra Castle
Great Ink Communications – (212) 741-2977
Eric Gerard – (email protected)
Jimmy it’s okay – (email protected)
Source: Lanterra Castle