The Miami-based real estate development and investment firm Concord Summit Capital made its business bicoastal with the establishment of an office in Century City earlier this month.
The company, which acts nationally as an intermediary between sponsors and capital providers, announced the new office, at 1925 Century Park East, on May 4, along with additional staff to support its real estate and advisory businesses.
“We are very excited to bring professions of this caliber to CSCap. In addition to the real estate capital markets advisory platform,” said Kevin O’Grady, the company’s national managing director and principal, in an accompanying statement.
O’Grady said CSC’s Los Angeles team would provide capital markets advisory services to private equity firms seeking to make corporate acquisitions, working with the Denver-based Summit Investment Management LLC team to acquire distressed assets and non-performing loans from banks and financial institutions across the country. Summit has invested more than $1.8 billion across a spectrum of industries and capital structures.
The Wilshire-based Concord, initially founded in 1992, specializes in mixed-use, residential and resort developments. The new team will be led by James McCloskey, who previously served as managing director at Private Equity firms Cerberus Capital Management and StoneCaliber LLC. In its statement, the company said McCloskey would bring “expertise structuring and executing complex financial transactions across asset classes with private equity firms, family offices, lenders, and other financial institutions.”
“We are excited to replicate the success that CSCap has had in Miami and Denver with our growing team here in Los Angeles,” said McCloskey, who will serve as regional managing director, in an email statement to the Business Journal.
Joining McCloskey in the launch of the West Coast practice is Tyler Beauregard, who will serve as director. Beauregard began his real estate career in 2002.