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| Commercial Real Estate Press Release |
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CALCAP Advisors formed to acquire distressed properties & provide liquidity in today’s marketplace
Valerie Brown ; 626.535.5936
California Capital Real Estate Advisors, Inc.
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Tuesday, November 25, 2008 -
Los Angeles, October 10, 2008 – California Capital Real Estate Advisors Inc. (CALCAP Advisors), a private real estate investment and financial services firm, has been recently formed. The three principals are: former mortgage banking executives Ed Aloe and Mark Mozilo and commercial real estate broker Pat Wakeman.
CALCAP is an independent, privately owned firm, providing real estate investment, liquidity and management services. CALCAP’s primary focus is on distressed condominium projects, both ground up and conversions, in CA, AZ and NV. “Traditional lending sources have severely tightened their underwriting criteria in the last year, which has made it difficult for individual condo buyers to get financing”, commented Aloe. “Couple this with rapidly declining values, and you have a perfect storm for stalled and failed projects”. The firm has recently bid on 6 different notes secured by such properties.
In his new role, Ed Aloe serves as managing principal for the new venture. “Our team offers the expertise and energy to identify the best real estate investment opportunities while being able to respond quickly in this turbulent market,” said Aloe. “We look forward to taking the lead in repositioning distressed properties and in delivering liquidity and financial alternatives.”
Illiquidity, weakened banks and changing lending standards are great obstacles to an economic turn-around. The virtually frozen lending market has presented unprecedented demand for credit. In this regard, CALCAP will step in to address this critical need by delivering liquidity and a straightforward strategy to serve those shut out.
The CALCAP team has been raising assets, building brand identity, and connecting with prospective partners and clients. Unique to their strategy is the team’s commitment to work with nonprofits and municipalities to address the critical needs of communities in repositioning inner city foreclosed properties. Through their experience, extensive network and creative problem-solving skills CALCAP’s team will build on their established record of success.
About CALCAP Advisors LLC
California Capital Real Estate Advisors, Inc. (CALCAP Advisors) is a real estate investment and advisory firm. Partnering with businesses, communities and nonprofits, we reposition distressed real estate, and provide liquidity, adding value for our stakeholders and the communities we serve. Visit us at: www.calcapadvisors.com
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