Joseph Iacono, the former chief investment officer of Petra Real Estate Opportunity Trust, has launched a new real estate finance company.
Crescit Capital Strategies will offer “highly structured and flexible debt products across the capital stack,” announced the company in a press release.
“Crescit Capital Strategies’ mission is to provide superior service to its borrowers by meeting the totality of their financing needs while retaining the ongoing servicing of its loans,” the release continued.
Iacono has co-founded the company with Nik Chillar, a former managing director at Opus Bank and 18-year banking veteran. According to Bloomberg, Chillar also worked with Union Bank, was a principal at Belgravia Capital, co-head of originations with CharterMac Mortgage Capital, now Centerline Capital Group and, early in his career Lehman Brother’.
Crescit Capital Strategies will offer borrowers and investors “a one-stop solution” by providing certainty of execution and creative financing solutions, while investors will benefit from a diversified business model with access to investments tailored to their specific risk profile, according to the company.
“It is impossible to successfully run a long-term commercial real estate finance business today without having a full understanding of fundamental commercial real estate credit as well as capital markets and global capital flows,” said Iacono.
“Thoughtful and responsible client service leads to repeat business which creates a significant advantage for both our clients and our investors and will manifest itself through better credit performance,” added Chillar.
Other executives joining the firm include Kim Diamond who will serve as Head of Structuring & Credit and Edmund Taylor, Chief Operating Officer