CRE finance veterans launch REIT

by Steve Randall09 Apr 2018

Three commercial real estate finance veterans have launched a new real estate investment trust, 3650 REIT.

Co-founders Justin Kennedy, Toby Cobb and Jonathan Roth, have been involved in the financing of commercial real estate for many decades with track records of success across lending, mortgage banking, capital markets and loan servicing.

"Starting with our long-term REIT capital base, we built from the ground up to provide a materially different and consistently aligned borrower experience," said Justin Kennedy. "3650 delivers what sponsors and intermediaries have been asking for – a stable portfolio lender focused on long-term relationships and reliable performance from origination through maturity."

Kennedy is a former Deutsche Bank head of global real estate, and head of CMBS trading at Goldman Sachs.

Cobb also worked at Deutsche, and together with Kennedy was co-CEO of LNR Property LLC, where he built and led its loan origination platform.

Roth spent 18 years as president of Canyon Partners Real Estate LLC and prior to that was a partner specializing in complex real estate transactions at the international law firm of Loeb & Loeb.

"For more than 30 years I have enjoyed challenging conventional thinking in and around the commercial real estate industry," said Jack Cohen, the industry veteran and former CEO of Cohen Financial, who joins 3650 REIT as a Managing Partner.

He says that the market too often failed in responding to the needs of both sponsors and mortgage bankers.

“We have built a new platform and process from the ground up, combining the best of portfolio lending and the capital markets into one relationship-oriented, outcome-focused lending and services platform," adds Cohen.

3650 REIT portfolio investment products include:

  • Long-term, first-lien mortgages on stabilized properties (5 to 10-year, fixed rate)
  • Bridge financing, including senior secured, mezzanine and preferred equity
  • Opportunistic investments
  • Relationship-focused loan servicing and asset management

 


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