CRE Investment Firm Refinances, Bolsters Capital Position
Private equity industrial and commercial real estate (CRE) investment firm Cohen Asset Management and its affiliates refinanced loans and secured other new loans to satisfy nearly all of the 2009 and 2010 debt maturities. The firm during 2009 retired, refinanced or signed new loans secured by several of its real estate assets, according to a press statement. "With substantial cash on hand each entity was able to use its capital to reduce its borrowings and considerably improve its capital structure over the near term," said president Bradley Cohen. "This achievement is indicative of our close lender relationships, the high quality of our industrial real estate assets, creditworthy tenants and the strong interest lenders have in our portfolio." Cohen Asset Management focuses on commercial and industrial real estate opportunities that are inefficiently priced due to a variety of circumstances such as vacancies, rollover risk, sub-optimal management, inefficient current use, deferred maintenance, long-term undervalued leases or other unfavorable property and market conditions. Write to Diana Golobay.