The Real Deal New York

Examining the Capmark fallout

October 27, 2009 11:05AM

In light of Capmark Financial Group’s announcement Sunday that it will be filing for Chapter 11 bankruptcy protection, CNBC real estate analyst Diana Olick took a closer look at how the real estate lender’s turmoil will affect the market. Capmark’s major investors, such as Five Mile Capital and Goldman Sachs Capital Partners, will take a massive hit from the reorganization, one that Capmark CEO Jay Levine is none too pleased to have announced. “[It’s] an unfortunate but necessary response to recent unprecedented conditions in the financial and commercial real estate markets,” Levine said.

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