CCRE Announces Closing of $250 Million of Senior Notes Due 2018
NEW YORK, Feb. 13, 2013 /PRNewswire/ -- Cantor Commercial Real Estate Company L.P. ("CCRE"), today announced the closing of an offering of $250 million in aggregate principal amount of 7.75% senior notes due 2018 by CCRE and CCRE Finance Corporation, a wholly-owned subsidiary of CCRE. CCRE intends to use the net proceeds of this offering to originate new commercial real estate loans and for general corporate purposes.
The notes were offered in the United States to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the "Securities Act"), and outside the United States pursuant to Regulation S under the Securities Act. The notes have not been registered under the Securities Act and may not be offered or sold in the United States absent registration or applicable exemption from the registration requirements. This press release does not constitute an offer to sell the notes, nor a solicitation for an offer to purchase the notes.
CCRE, an affiliate of Cantor Fitzgerald, L.P., is a fully-integrated commercial real estate finance company providing innovative financing solutions to the real estate capital markets. CCRE originates competitively underwritten fixed- and floating-rate mortgages and mezzanine loans secured by diverse asset types in most major U.S. markets. CCRE is capitalized by strong institutional sponsorship including affiliates of CIM Group and Cantor Fitzgerald, L.P., and is led by an experienced team of real estate professionals with extensive track records originating, structuring, managing and distributing commercial real estate loans in various economic cycles. For more information, visit www.cantorcre.com.
Forward Looking Statements
This press release may contain forward looking statements. In particular, statements pertaining to our performance and results of operations contain forward looking statements. Likewise, all of our statements regarding anticipated growth in results of operations are forward looking statements. You can identify forward looking statements by the use of forward looking terminology such as "believes," "expects," "may," "will," "could," "should," "seeks," "approximately," "intends," "plans," "projects," "estimates" or "anticipates" or the negative of these words and phrases or similar words or phrases which are predictions of or indicate future events or trends and which do not relate solely to present or historical matters. You can also identify forward looking statements by discussions of strategy, projections, plans or intentions.
Forward looking statements involve numerous risks and uncertainties and you should not place undue reliance on them as predictions of future events. The forward-looking statements are based on our beliefs, assumptions and expectations of our future performance, taking into account all information available to us on the date of this release. These beliefs, assumptions and expectations can change as a result of many possible events or factors, many of which may be beyond our control and not all of which are currently known to us. If a change occurs, our business, financial condition, liquidity and results of operations may vary materially from those expressed in our forward-looking statements. The following factors could cause actual results to vary from our forward-looking statements:
- general volatility of the capital markets;
- changes in our business strategy;
- changes in interest rates and the rates offered to borrowers under mortgage loans;
- our ability to execute securitizations and other dispositions and financings of the loans we originate;
- changes in the demand for securitized commercial mortgage loans products;
- changes in the value of loans held for sale and associated hedges;
- effects of hedging instruments on our mortgage loans;
- market trends in our industry, interest rates, real estate values, the debt markets or the general economy of the demand for commercial real estate loans;
- actions and initiatives of the U.S. government and changes to U.S. government policies and the execution and impact of these actions, initiatives and policies, including in respect of the U.S. mortgage market;
- availability, terms and deployment of capital, including our ability to effectively deploy the net proceeds of this offering;
- our ability to obtain and maintain financing arrangements;
- our origination and underwriting process;
- interest rate mismatches between our mortgage loans and any borrowings used to fund such investments;
- availability of, and our ability to retain, qualified personnel;
- changes in applicable laws or regulations;
- our ability to enter into strategic alliances and business combination or other transactions, including acquisitions, dispositions, reorganizations, partnering opportunities and joint ventures, and the integration of any completed transactions;
- state of the macro economy and local economies in which the properties securing our mortgage loans are located; and
- the degree and nature of our competition.
While forward-looking statements reflect our good faith beliefs, they are not guarantees of future performance. We disclaim any obligation to publicly update or revise any forward-looking statement to reflect changes in underlying assumptions or factors, of new information, data or methods, future events or other changes, except as required by law.
SOURCE Cantor Commercial Real Estate