"We are committed to expanding our real estate lending activities in unique niches within the commercial real estate finance landscape," CapitalSource CEO John K. Delaney says. "CIG has established itself as a leader in mezzanine financing for residential development projects and provides CapitalSource with a new and unique product to offer to the market."

Established nearly two decades ago, CIG has made quite a name for itself facilitating small loans for condominium, townhome and single-family projects from Florida to New York and parts of the south, as well. The company has completed over $500 million in transactions over the last ten years, about 75% of which involve multifamily properties. At the time of the acquisition, which closed July 1, CIG had about $100 million in outstanding loans.

"CIG had been a client of ours for three years," Michael C. Szwajkowski, managing director of CapitalSource's Structured Finance group, tells GlobeSt.com. "We financed them, so we know the company well, and indirectly, we know all their clients." He adds that, because CIG's management team will remain intact, "the transition will be totally seamless for the clients; they won't miss a beat." As for future aspirations, Szwajkowski says the company expects to grow the CIG portfolio by $100 million over the next 12 to 18 months.