CBRE Realty Finance - Commercial

MarketWatch reported the New York Stock Exchange permanently halted trading of shares for CBRE Realty Finance (CBF) at the close of business Friday, November 7, 2008 and going forward transactions "will occur over-the-counter under the ticker symbol CRTYZ." As noted on their web site:

"CBRE Realty Finance, Inc. is a commercial real estate specialty finance company primarily focused on originating, acquiring, investing in, financing and managing a diversified portfolio of commercial real estate-related loans and securities. CBRE Realty Finance has elected to qualify to be taxed as a real estate investment trust, or REIT, for federal income tax purposes. CBRE Realty Finance is externally managed and advised by CBRE Realty Finance Management, LLC, an indirect subsidiary of CB Richard Ellis Group, Inc. and a direct subsidiary of CBRE/Melody & Company."

The company had previously announced in June that a credit facility with Wachovia had been paid down and terminated. Originations appear to have ceased sometime ago, as indicated in their Second Quarter 2007 Earnings Release:

"Given the recent volatility in the capital markets, the Company has halted making new investments in the near-term.

The Company plans to restart its lending program when it is comfortable with the expected pricing of, and has reasonable access to, capital both in the debt and equity markets that will enable the Company to achieve its growth objectives."

While their Third Quarter 2008 Results indicate a current portfolio of $1.33 billion, past origination volume was unclear. In the quarter immediately prior to the halt of their lending program, CBRE Realty Finance reported the following:

"Twenty-one new investments totaling $225.3 million were originated during the first quarter. Net investment originations totaled $200.8 million, an increase of 19 percent from the prior quarter."

This would certainly indicate they were a lender worthy of mention. Additional details regarding past volume and employment levels may be contained in other corporate filings, but we would rather encourage your feedback. Comments may be posted below or send an email to us directly.