Capmark To Auction Management Stake In $1B Fund

Law360, New York (April 4, 2011, 7:10 PM EDT) -- Capmark Financial Group Inc. won bankruptcy court approval Monday to auction its management stake in a $1 billion real estate debt investment fund, with a Pacific Coast Capital Partners LLC unit providing a $7.5 million stalking horse bid.

Capmark will hold an auction for its equity in the fund, Capmark Structured Real Estate Partners LP, on April 29, attorneys for the commercial mortgage lender said at a hearing in the U.S. Bankruptcy Court for the District of Delaware.

The successful bidder at the auction will win...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.