Real estate vets Jonathan Roth, Toby Cobb and Justin Kennedy are joining forces to form a new commercial real estate lender called 3650 REIT.
The company’s products include bridge financing, loan servicing, asset management, opportunistic investments and long-term mortgages on stabilized properties, according to Bisnow.
Kennedy and Cobb co-founded the real estate investment trust’s development affiliate in 2013: Grass River Property, which is based in South Florida and owns 14 development and equity investments spanning more than 1.8 million square feet. The pair were co-CEOs of LNR Property before resigning and founding Grass River following Starwood Property’s 2013 takeover of LNR.
Roth previously worked as president of Canyon Partners Real Estate, and Cobb was previously co-head of U.S. commercial real estate lending for Deutsche Bank.
The headquarters for 3650 REIT will be in Miami, and it will also have offices in New York, Los Angeles, Chicago and Newport Beach. [Bisnow] – Eddie Small