Global financial services firm Cantor Fitzgerald LP has created Cantor Real Estate LLC and appointed Andrew N. Stark executive managing director to lead Cantor's entry into the real estate investment and development market.
Under Stark's direction, Cantor plans to create a real estate opportunity fund as an investment vehicle for Cantor partners and other investors that focuses primarily on opportunistic investments in various real estate sectors, including dislocated assets.
‘We view the current real estate environment as providing significant opportunities to take advantage of value-add investments and developments,’ states Howard W. Lutnick, chairman and CEO of Cantor.
‘Current market conditions are causing some owners/developers of residential and commercial properties to focus on capital preservation, while lenders are faced with the need to evaluate and monetize their real estate/construction portfolios,’ Stark adds. ‘In aligning with the strong team at Cantor, we are prepared to create solutions for real estate assets that can substantially unleash stalled intrinsic value.’
Source: Cantor Fitzgerald