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CapitalSource Shells Out $100M for Residential Lender

CHEVY CHASE, MD-Commercial finance firm CapitalSource Inc. expands its horizons with the acquisition of Washington, DC-based residential real estate lender CIG International for nearly $100 million. Established nearly 20 years ago, CIG has completed over $500 million in transactions over the last decade.

By Barbra Murray | Updated on July 08, 2004

CHEVY CHASE, MD-In a deal valued at about $98 million, commercial finance company CapitalSource Inc. acquires Washington, DC-based residential real estate lender CIG International LLC. The move–in which CIG holds on to its name, and CapitalSource holds on to CIG’s management team–allows CapitalSource to augment its offerings under its Structured Finance group.

“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.”

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