| Market Capitalization (Millions $) |
223 |
| Shares
Outstanding (Millions) |
141 |
| Employees |
- |
| Revenues (TTM) (Millions $) |
152 |
| Net Income (TTM) (Millions $) |
-538 |
| Cash Flow (TTM) (Millions $) |
-97 |
| Capital Exp. (TTM) (Millions $) |
0 |
Business Description
The company is a CRE finance company with a primary focus on originating senior and subordinate loans on transitional CRE assets located in major U.S. markets. They offer mortgage loans secured by a first priority or subordinate mortgage on transitional CRE assets, and subordinate loans including mezzanine loans secured by a pledge of equity ownership interests in the direct or indirect property owner rather than directly in the underlying commercial properties. The loans are subordinate to a mortgage loan but senior to the property owner's equity ownership interests.
The company specializes in transitional CRE assets, which are properties that require repositioning, renovation, rehabilitation, leasing, development, or redevelopment, or other value-added elements in order to maximize value. They believe that their Sponsor's real estate development, ownership, and operations experience and infrastructure differentiate them in lending on these transitional CRE assets. Their objective is to be a premier provider of debt capital for transitional CRE assets and to generate attractive risk-adjusted returns for their stockholders over time, primarily through dividends. They strive to create a diversified investment portfolio of CRE loans that they generally intend to hold to maturity. They focus primarily on originating loans ranging from $50 million to $300 million on transitional CRE assets located in major U.S. markets with attractive fundamental characteristics supported by macroeconomic tailwinds.
The company was organized as a Maryland corporation on April 29, 2015, and commenced operations on August 25, 2015. Their common stock is traded on the New York Stock Exchange under the symbol "CMTG." They have elected and believe they have qualified to be taxed as a REIT for U.S. federal income tax purposes commencing with their taxable year ended December 31, 2015. They are externally managed and advised by their Manager, an investment adviser registered with the SEC pursuant to the Investment Advisers Act of 1940.
The company is externally managed by their Manager, an affiliate of MRECS. Their Sponsor owns, develops, invests in and manages real estate equity, debt and securities on behalf of third-party institutional and high net worth investors. The members of their Sponsor's senior management team have, on average, more than 25 years of real estate and finance experience. They leverage their Sponsor's platform to originate, underwrite, structure and asset manage a portfolio of loan assets that align with their differentiated investment strategy. In performing its duties to the company, the Manager benefits from the resources, relationships, fundamental real estate underwriting and management expertise of the Sponsor's broad group of real estate professionals.
Their Manager is responsible for executing their loan origination, capital markets, portfolio management, asset management and monitoring activities and managing their day-to-day operations. To perform its role in a flexible and efficient manner, their Manager leverages professionals employed by their Sponsor whose services are made available to the Manager and, in turn, to the company. They believe their Manager benefits from access to individuals with extensive experience in identifying, analyzing, acquiring, financing, hedging, managing and operating real estate investments across investment cycles, geographies, property types, investment types and strategies, including debt and equity interests, controlling and non-controlling investments, corporate and securities investments (including CMBS) and a variety of joint ventures. The Manager is at all times subject to the supervision, direction and management of the company's board of directors.
Company Address: c/o Mack Real Estate Credit Strategies, L.P. New York 10023 NY
Company Phone Number: 484-0050 Stock Exchange / Ticker: NYSE CMTG
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