Capmark Investments Joins Capmark Bankruptcy Filing
Capmark Investments, a subsidiary guarantor of Capmark's corporate debt obligation, is joining commercial real estate lender Capmark Financial Group in Chapter 11 bankruptcy proceedings, according to a recent statement. The filing of Capmark Investments excludes all of the funds it manages as well as general partnerships in the funds. Capmark Investments on January 14th finalized an asset-purchase agreement with an undisclosed third party. The firm will seek bankruptcy court approval to complete the sale of its management contracts and general partnership interest in its real estate equity funds to the undisclosed third party. Capmark Investments did not return a request for comment before this story was published. Capmark Financial Group and certain subsidiaries filed for bankruptcy protection on Oct. 25, 2009 as part of a larger restructuring effort. Capmark then received approval to sell its North American servicing and mortgage banking business to Berkadia Commercial Mortgage from within bankruptcy. The mortgage unit, which Capmark initially said it would sell for $515m, was eventually sold in December. Write to Diana Golobay.