On October 25, 2009, Capmark Financial Group Inc. and certain of its subsidiaries filed voluntary petitions for relief under Chapter 11 of the U.S. Bankruptcy Code in the U.S. Bankruptcy Court for the District of Delaware. On January 15, 2010, Capmark Investments LP joined Capmark in its Chapter 11 proceedings. Capmark intends to use the reorganization process to implement a restructuring that reduces its corporate debt and maximizes value for its stakeholders.
TRECAP Partners LLC has acquired the real estate equity investment advisory business of Capmark Investments LP, including investment management contracts and general partnership interests in its real estate equity funds. Please visit the TRECAP website at www.trecappartners.com.
Berkadia Commercial Mortgage LLC recently acquired Capmark’s North American loan origination and servicing businesses. Please visit the Berkadia web site at www.berkadia.com.