The Real Deal New York

Examining the Capmark fallout

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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