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CharterMac, Capri Deal Closes

NEW YORK CITY-CM Investor LLC, a CharterMac subsidiary, completes its acquisition of Capri Capital's mortgage banking business. Capri co-founder Daryl J. Carter becomes CEO of CharterMac Mortgage Capital.

By Barbara Jarvie | Updated on March 14, 2005

NEW YORK CITY-CharterMac subsidiary CM Investor LLC closed on its $84-million acquisition of Irvine, CA-based Capri Capital Finance. Capri co-founder Daryl J. Carter has been named chief executive officer of CharterMac Mortgage Capital Co., the commercial mortgage banking subsidiary of CharterMac.

Upon CharterMac’s purchase of Capri Capital Finance, the firm was merged with CharterMac’s existing mortgage banking subsidiary, CharterMac Mortgage Capital, formerly known as PW Funding Inc. PW Funding’s previous CEO was Ray Reisert, who resigned in 2004, but remained on the company’s board. PW Funding was overseen in the interim by the office of the president, which was shared by Neil Cullen, William Hyman and Kelly Schur.

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