NEW YORK CITY-Cantor Fitzgerald LP has created Cantor Real Estate LLC and appointed Andrew Stark as executive managing director to lead Cantor’s entry into the real estate investment and development market. Under Stark’s direction, Cantor plans to create a real estate opportunity fund as an investment vehicle for Cantor partners and other investors that focuses primarily on opportunistic investments in various real estate sectors, including dislocated assets.
A Cantor source tells GlobeSt.com that the opportunity fund will be launched “very, very soon” and that “it’s going to be a pretty big deal for us.” Stark tells GlobeSt.com that Cantor’s attention is “keenly focused on development and redevelopment opportunities that have strong underlying fundamentals, but are caught-up in the credit crunch and inertia in the capital markets.”
He continues that “many lenders and owners need to address their development loans/assets and their own liquidity needs. Our expertise as hands-on developers provides us the ability to work with these groups as well as provide fresh capital at the appropriately adjusted asset valuation.”