Miami-based real estate development and investment firm Concord Summit Capital made its business bicoastal with the establishment of an office in Century City earlier this month.
The company, which acts nationally as an intermediary between sponsors and capital providers, announced the new office in 1925 Century Park East on May 4, along with additional staff to support its real estate and consulting firms.
“We are very excited to bring businesses of this caliber to CSCap. In addition to the Real Estate Capital Markets Advisory Platform,” said Kevin O’Grady, the company’s National CEO and CEO, in an accompanying statement.
O’Grady said CSC’s Los Angeles team would provide capital market advice to private equity firms seeking to make corporate acquisitions and work with the Denver-based Summit Investment Management LLC team to acquire distressed assets and non-performing loans from banks. and financial institutions across the country. Summit has invested more than $ 1.8 billion across a spectrum of industries and capital structures.
Originally founded in 1992, the Wilshire-based Concord specializes in mixed use, residential and resort development. The new team will be led by James McCloskey, who previously served as CEO of Private Equity firms Cerberus Capital Management and StoneCaliber LLC. In its statement, the company said McCloskey would bring “expertise to structure and execute complex financial transactions across asset classes with private equity firms, family offices, lenders and other financial institutions.”
“We are excited to repeat the success that CSCap has had in Miami and Denver with our growing team here in Los Angeles,” McCloskey, who will serve as regional CEO, said in an email to Business Journal.
Along with McCloskey in the launch of the West Coast practice is Tyler Beauregard who will serve as director. Beauregard began his real estate career in 2002.
