Capmark Investments has lost another real estate debt team after Jacqueline Brady, Margaret Blakely and Brent Morris joined Urdang Capital Management.
The trio, along with five other team members, joined the private equity real estate arm of BNY Mellon Asset Management in a bid to expand Urdang’s commercial mortgage and structured credit acquisition and origination operations.
Urdang will now work as non-discretionary sub-advisor on two Capmark debt funds, the $1.1 billion Capmark Structured Real Estate Partners and $1 billion Capmark VII-CRE vehicles.
Capmark Investments is the investment arm of Capmark Financial and manages value-added and opportunistic commingled funds and separate accounts. Capmark Financial is eyeing bankruptcy protection after reporting massive losses in the second quarter. According to media reports it could file for Chapter 11 by the end of the week.
Yesterday, it was announced that Capmark Investments’ securities team had spun-out to form Ventras Capital Advisors together with private equity firm MBH Enterprises.
Ventras will be led by Scott Roth and Patti Unti, previously co-heads of Capmark’s securities team. Beth Forbes, Kevin Kohler, Susan O’Leary and Dave Putro, all of whom were vice presidents at Capmark, have also joined Ventras.
A spokesman for BNY Mellon declined to comment further on the Capmark appointments.