We acquire, originate and structure senior and subordinate debt investments generally secured by commercial and multifamily properties, which we finance primarily by issuing CDOs. The predominance of these debt investments are directly originated for our customers, although at times we also co-originate loans with other lenders such as Wall Street firms and commercial banks.

Through our origination offices located in New York, NY, Dallas, TX, and Los Angeles, CA, we have built a franchise with a reputation for providing capital to high quality real estate investors who want a responsive and flexible balance sheet lender. Given that we are a lender who does not generally seek to...