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Financing Veteran Launches Pensam Capital

MIAMI-Michael Stein, formerly with Aztec Group, joins two others in the new funding boutique.

By Carl Cronan | Updated on October 05, 2009

MIAMI-Michael Stein, former managing director of Aztec Group Inc., has launched Pensam Capital to address the funding needs of smaller commercial real estate investors. Gavin Beekman and Joe Ackerman, two local real estate finance veterans, have joined Stein in the new boutique operation.

Pensam Capital’s funding platform offers debt and equity funding through bridge loans and preferred equity in all asset classes, including residential, commercial and hospitality, as well as note purchases. The firm will use its own balance sheet to offer financing for time-sensitive transactions, with closings targeted between seven and 30 days.

“I felt that there was an opportunity in the marketplace to find debt and equity capital for middle-market transactions” between $1 million and $10 million, Stein tells GlobeSt.com. “We take a very creative and boutique approach to structuring deals.”

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