Commercial Mortgage Alert
A recently formed investment manager that aims to close up to $200 million of deals this year plans to hire three to four staffers to support the initiative.
F2 was founded last April by former Lightstone investment pro Jonathan Fhima. Including two deals to be completed over the next week or so, the private equity firm so far has originated or committed to fund 11 bridge and mezzanine loans, preferred-equity investments and note-on-note financings totaling about $50 million.
Given F2’s goal to generate an additional $100 million to $200 million of similar investments this year, Fhima is looking to bolster his two-member staff by hiring commercial real estate pros with at least two years of experience. They could work in F2’s Beverly Hills headquarters or its other office in New York. One of the recruits would come aboard as an asset manager to oversee the firm’s growing portfolio. The others would underwrite and perform due diligence on new loans and other transactions.
As previously reported, Fhima left New York-based Lightstone last March to launch F2. His pitch to property owners is that his firm can offer quick turnarounds on financings with flexible terms, including little or no prepayment constraints or penalties. The majority of deals F2 has conducted so far were wrapped up in two weeks or less.
The firm initially has targeted transactions ranging from about $3 million to $30 million. In addition to writing traditional bridge and mezzanine loans on transitional properties, F2 offers predevelopment loans as well as financing to replace or supplement construction debt on projects still underway. Its note-on-note financings can be tied to performing or nonperforming debt.
To apply for the openings at F2, contact Fhima via email at firstname.lastname@example.org.