ARCap is one of the nation's leading fund managers specializing in the acquisition, management and servicing of high-yield commercial mortgage-backed securities and high-yield direct real estate loans.
CharterMac currently owns a 10.7% economic interest in ARCap, which the Company has held since 2000.
"The acquisition of ARCap is the next step in the transformation of our company from a spread investor to a real estate fund manager," said Marc D.
ARCap launched its lending program in August 2005 as an additional business line to supplement its business as a long-term investor in high-yield commercial mortgage-backed securities (CMBS), according to Larry Duggins, ARCap REIT's president.
"By coupling a front-end loan origination business with the existing ARCap primary servicing and B-piece investment infrastructure, borrowers are provided with a one-stop shopping experience."
2003-1 is a static collateralized debt obligation (CDO) that closed on Aug.
This year's convention, co-chaired by Larry Duggins of ARCap
REIT, Inc., Peter Horos of Allstate Insurance Corporation and John Mulligan of Merrill Lynch & Co., will feature a roster of talented industry leaders who will be speaking, as well as intensive educational offerings and presentations on the CMBS industry's biggest challenges.
AMAC's investments represent $47.2 million in FHA insured loans, $6.4 million in FHA equity loans, $10.9 million in mezzanine low-income housing tax credit loans, $4.9 million in the Fannie Mae/APF loan program and $20 million in ARCap