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Cypress Creek, Contrarian Launch $200M Program

FORT LAUDERDALE, FL-The two companies will invest $200 million over the next 24 months in land and commercial income-producing properties.

By Natalie Keith | Updated on November 28, 2007

(Read more on the debt and equity markets.)

FORT LAUDERDALE, FL-Locally based Cypress Creek Capital and Greenwich, CT-based Contrarian Capital Management are co-sponsoring a $200-million bridge loan program for owners and investors of Florida real estate. The program is aimed at owners and acquirers of land and commercial income-producing properties.

The companies plan to invest the money over the next 24 months. Cypress Creek Capital vice president of real estate investments Mitch Sinberg tells GlobeSt.com that the companies are in the process of negotiating approximately $50 million and expects to have commitments in place soon. The companies are targeting all areas of Florida, except for the Panhandle.

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