A10 Capital's Lending TLC
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|In yet another instance of capital creeping back into the market, Boise-based A10 Capital just opened a Midwest office, headed up by CMBS and lending veteran Greg Cazel. Greg, formerly of JP Morgan and REDC, says the company is looking to make loans on buildings in the Midwest region that need a little TLC.|
|Since Greg set up shop in Hoffman Estates earlier this month, he's already started looking at 16-17 distressed or near-distressed deals in his 11-state region. Greg says A10's sweet spot is in the $2M- $10M range, and he'll look at any asset in the four major food groups.|
|A10 has been lending throughout the US for two-and-a-half years, but only recently opened offices in Chicago and DC (a New York office in the works), all to take advantage of the billions of dollars in debt maturing over the next couple of years. Greg says the company has about 12 people in six field offices nationwide and is lending its own capital as well as mezzanine debt from a $100M opportunity fund it announced in March. Greg says the new position in the Midwest will be a great opportunity for A10 to capitalize on smaller properties that might not be able to get CMBS assistance.|