About us

We leverage our robust platform of real estate and services companies to identify and capitalize on innovative and profitable investments globally.

Centerline Capital Group

Negotiating A Comprehensive Restructuring and Recapitalization

Challenge

In the wake of the 2008 financial crisis a large publicly traded commercial real estate finance company and special servicer, became insolvent, with more than $2 billion of liabilities. Island Capital took the lead in negotiating a restructuring with multiple stakeholders, including senior lenders, common and preferred shareholders, fund investors, and lessors.

Solution

Island Capital formed C-III Capital Partners LLC (“C-III”) to acquire the company’s commercial mortgage loan servicing and real estate debt fund management businesses. Island Capital recapitalized and stabilized the businesses under C-III Capital Partners with over $400 million from new equity and the assumption of existing debt. As part of the restructuring, Island Capital was named external manager of the company and retained a significant ownership stake.

Results

Following the transaction, C-III Capital Partners became one of the leading CMBS special servicer in the U.S. with a portfolio of approximately $250 billion of commercial mortgage loans. Island Capital has since grown C-III Capital Partners into a leading investment management and diversified real estate services platform with a peak assets under management of over $9 billion.

$53B

of commercial real estate loans resolved