Former Lehman commercial real estate head finds new investors

In another sign of the recovering real estate market, Mark Walsh has found some investors willing to fund his real estate transactions, the Wall Street Journal reported. Three long years ago, Walsh headed Lehman Brothers’ commercial real estate division, and consummated many of the deals that led to the firm’s demise. But he’s calling on some of the very same investors who funded his Lehman transactions to invest in his latest venture, Silverpeak Partners, where he is one of five partners. Silverpeak is currently focused on the New York market, where it recently purchased a $20 million loan backing a Queens apartment building, and is working on deals for an office building and a residential building, the Journal said, and Florida, where it is eying three hotels. While most of the firm’s deals to date have not required an institutional investor, it is already managing an $18 billion real estate portfolio built by Lehman. Silverpeak acquired the assets when it took over Lehman Brothers Real Estate Partners III LP for $22.3 million last year. [WSJ]