Ventras Adds Another Ex-Capmark Executive
Gregory McManus joins Ventras Capital Advisors as principal in the firm’s Philadelphia office and will lead the company’s growth in the commercial real estate asset management. McManus is a 21-year veteran of commercial real estate, specializing in capital markets, asset management and resolution of distressed assets. He joins from Capmark Financial Group, where he served as chief financial officer, where he was responsible for restructuring the firm’s Affordable Housing Equity Group. Capmark's woes first came to light early last month as the commercial real estate financier announced it would restructure to avoid bankruptcy. This summer, Ventras acquired the management contracts relating to $5.2bn in real estate assets from Capmark Investments. “With Greg on board, Ventras is poised to aggressively expand into the commercial real estate asset management arena,” said Scott Roth, a Ventras co-founder and a manager of the new portfolio. “This is an ideal time for us to be integrating and expanding our presence in the marketplace.” Ventras is the real estate investment subsidiary of MBH Enterprises and was founded by co-founders and former Capmark veterans Roth, Patti Unti and Jimmy Parsley. Denver-based MBH acquires controlling interests in service sector businesses with a portfolio of 12 companies with 1,700 employees, and currently generates more than $300m in revenue. Write to Austin Kilgore.