Dynex Capital Inc. has entered into an agreement with L2 Capital Inc., an investment management firm based in the San Francisco area that specializes in commercial mortgage assets.
L2 Capital will provide commercial real estate mortgage expertise to Dynex Capital and will assist the Glen Allen, Va.-headquartered company in its efforts to identify, underwrite and price opportunities in the commercial mortgage-backed securities and commercial real estate markets.
Dynex Capital says it anticipates the relationship with L2 Capital will help put it in a position to deploy new capital in commercial assets at compelling risk-adjusted yields. Dynex Capital already has a portion of its capital invested in commercial mortgage assets, with approximately $198 million in loans financed with $179 million of securitization financing at Sept. 30.
