News

Steve Emerson has announced the formation of Dry Creek Capital Partners LP (“Dry Creek”), a special situations investing group formed to provide a platform for investments in debt obligations of distressed commercial real estate and small business debt.

400 Capital Management LLC, an alternative credit asset manager specializing in structured credit with over $4.4 billion of capital under management, today announced the final close of its Asset Based Term Fund II (“ABTF II”). The Fund, launched in June 2019, was oversubscribed with more than $430 million, above its $400 million target.

400 Capital Management LLC (“400CM”), a $4.4 billion leading alternative credit asset manager, has hired Quinn R. Barton III to expand its investments in commercial real estate finance. Mr. Barton, formerly a Managing Partner at Carmel Partners, is joining 400CM as a Senior Portfolio Manager of CRE and
CMBS focusing on originating, structuring and trading all performing and non-performing CRE-related loans and securities.

Builder Capital, LLC announced today a land banking arrangement with Lokal Homes consisting of 198 lots in Denver, Colorado.  Builder Capital, in partnership with affiliates of 400 Capital Management, acquired the portfolio of lots as part of an ongoing strategy to provide capital to production homebuilders for the acquisition and development of single family residential lots nationwide to produce homes for American consumers at attainable price points. 

Freddie Mac (OTCQB:FMCC) today completed an auction of subordinate non-guaranteed certificates (the “Subordinate Certificates”). The Subordinate Certificates will be issued by Freddie Mac Seasoned Loans Structured Transaction (SLST), Trust 2018-1, which will also issue guaranteed senior certificates (the “Senior Certificates”). The Senior and Subordinate Certificates will be backed by 2,617 seasoned re-performing loans (RPL) and moderately delinquent loans serviced by Nationstar Mortgage LLC, d/b/a Mr. Cooper.