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Barclays Capital and FundCore Partner on New CMBS Loan Origination Program

Sep 19, 2011

Barclays Capital and FundCore Finance Group have announced a partnership that establishes a Commercial Mortgage-Backed Securities (CMBS) loan origination and securitization program. As part of the program, Barclays Capital will provide funding to originate conduit loans while FundCore will source loan opportunities. The loans will be jointly underwritten by Barclays Capital and FundCore and are anticipated to be periodically securitized. The partnership will look to originate and securitize five-, seven- and 10-year fixed-rate loans secured by traditional commercial property types in major markets throughout the United States. “We have been thoughtful about our expansion into CMBS origination and we believe that the current environment provides us with many opportunities,” said Larry Kravetz, head of CMBS finance at Barclays Capital. “Borrowers will benefit from the unique combination of FundCore’s expertise in conduit origination with our market leading securitization business.” Steve Ball, president of FundCore Finance Group said, “The CMBS business model has dramatically changed and we continue to look at numerous ways to take advantage of this opportunity.Through this combination we are creating a best-in-class origination business that is well-integrated between the two firms and will provide a seamless and streamlined execution process for borrowers.”
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