LOS ANGELES-Chevy Chase, MD-based CapitalSource has expanded to Los Angeles with the opening of a new office in Downtown L.A. and has named Vishal Vanjani as director to lead the office in a move that reflects the gradually increasing availability of capital as the financial markets recover. Vanjani has already started building his L.A. team, with Benjamin Rotter joining CapitalSource from Legg Mason Real Estate Investors.
CapitalSource provides commercial real estate loans ranging in from $10 million to $50 million on properties in the multifamily, office, retail, industrial and hospitality sectors. Before joining CapitalSource, Vanjani was a director in originations at the Los Angeles office of Natixis Real Estate Capital (formerly IXIS Real Estate Capital and CDC Mortgage Capital). Chris Kelly, CapitalSource’s managing director of the Real Estate Group, comments that the opening of the office in Los Angeles “showcases CapitalSource’s commitment to building a strong presence on the West Coast.”
Kelly cites Vanjani’s more than 15 years of experience in structuring commercial real estate finance solutions. “He understands the market in Southern California and is well-known among the local real estate community,” says Kelly, who adds that CapitalSource plans to grow its presence here.
Earlier in his career, Vanjani held positions with a number of companies active in the commercial real estate space, including HFF, JPMorgan Chase, Wachovia Bank, Nomura Asset Capital Corp. and Fremont Investment and Loan. Kelly comments further on the CapitalSource expansion in Los Angeles: “During the volatile economic climate of the past few years, nearly every major lender—as well as a number of banks—exited the commercial real estate arena. As market conditions have improved, loan volume has started to come back, and with it the need for lenders with local market knowledge and relationships.”
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