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...
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