Citing a need in today\u2019s \u201cincreasingly turbulent real estate and credit markets,” Starwood Capital Group Global L.L.C., has tapped two real estate executives to head up a new subsidiary that will manage investments in U.S. public real estate infrastructure bonds. Starwood said today Ramiro Albarran and Bob Burch, former Bank of America executives, will join Starwood Infrastructure Finance L.L.C., as managing principals. Albarran and Burch will have the primary responsibility for finding and managing Starwood Infrastructure Finance\u2019s investments. \u201cStarwood Infrastructure Finance will fill a valuable need in today\u2019s market by providing long-term capital projects (large and small) across the country with attractive risk-adjusted returns for our investors,\u201d Karl Frey, managing director for Starwood Capital, said in today\u2019s release. \u201cStarwood Infrastructure Finance will take a disciplined approach to underwriting these bonds for what they are–non-recourse real estate development loans–and we are especially pleased to have the ideal management team in place to lead that effort.\u201d Albarran was previously national head of investment banking for public finance at Bank of America and a member of the group\u2019s operating and commitment committees. Burch was a managing director at Bank of America and the national manager for real estate securities within public finance, which was responsible for structuring all the real estate infrastructure bonds underwritten by Bank of America. Burch and Albarran could not be reached for comment by press time today. A spokesperson for Starwood Capital Group Global told CPN today that Albarran and Burch \u201care on the job and are very actively looking for projects.\u201d He declined to discuss locations or projects that the group will be looking at for its investments. In the Starwood Capital release, Albarran said the new subsidiary\u2019s \u201cinitial focus would be to purchase performing debt on ongoing projects that hold great long-term potential, but are in need of new capital partners.\u201d He said the subsidiary would not be a \u201cshort-term, work-out play, but rather a long-term capital provider in this sector, working hand-in-hand with developers and underwriters to see projects through to a successful conclusion.\u201d On June 4, CPN reported that the United States spends about $400 billion a year on new infrastructure and improvements to its roads, rails, ports and other public projects. Earlier this month, John McMillan, a Cushman & Wakefield of California Inc. executive director, told CPN that public investments were needed in Southern California\u2019s industrial infrastructure to expand its capacity, particularly its ports.<\/p>\n","protected":false},"excerpt":{"rendered":"
Citing a need in today\u2019s \u201cincreasingly turbulent real estate and credit markets,” Starwood Capital Group Global L.L.C., has tapped two real estate executives to head up a new subsidiary that will manage investments in U.S. public real estate infrastructure bonds. Starwood said today Ramiro Albarran and Bob Burch, former Bank of America executives, will join…<\/p>\n","protected":false},"author":1314,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[37301],"tags":[],"class_list":["post-1003815990","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"acf":[],"yoast_head":"\n