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.
Examining the Capmark fallout
October 27, 2009 11:05AM