Seasoned Real Estate Executive to Identify and Oversee New Investment Opportunities
Canyon Capital Realty Advisors (CCRA) and its affiliates including the Canyon Johnson Urban Funds (CJUF) announced today that real estate executive Richard D. Holly has joined the company as Managing Director with responsibility for identifying and overseeing investment opportunities in the Midwest and mountain regions.
“We are thrilled to bring on a new member to the Canyon team with such a depth of quality investment experience in the commercial real estate markets,” said Canyon Managing Partner Bobby Turner. “Richard has originated and managed an incredible volume of deals throughout his career and delivered tremendous results. His history of success in this industry in addition to his unique ability to lead, will serve as key assets for Canyon as we move forward.”
Holly has over 18 years of real estate experience. Most recently, Holly was Vice President for JMB Realty Corp. where he was responsible for identifying debt and equity opportunities nationwide for JMB Financial Advisors, an affiliate of JMB Realty Corp. Prior to this, Holly gained valuable experience as a Senior Vice President, Midwest Regional Manager for Countrywide Capital Markets in Chicago. At Countrywide, he originated, structured, and managed CMBS, mezzanine debt and preferred equity investments for its institutional clients. He also worked at KeyBank where he was Director of the Private Equity Group, and managed the Central Region, identifying mezzanine and equity opportunities for the group.
Holly joins a growing Canyon team that is assisting a wide variety of entities impacted by the ongoing dislocation of capital in the real estate markets. Since the credit crisis emerged, Canyon has worked with a diverse group of developers, owners and operators of real estate, REITS, banks, private equity real estate funds, hedge funds and mezzanine funds to help them meet liquidity needs, complete construction, or achieve refinancing objectives.
“We have significant experience in Chicago and the Midwest and mountain areas, and see more opportunity ahead,” Turner said. “Richard will help complement our efforts by working out of the firm’s office in Chicago and by helping us deploy nearly $1.5 billion of capital we have available for real estate investments.”
About Canyon Capital Realty Advisors LLC
Canyon Capital Realty Advisors LLC and its affiliate Canyon Capital Advisors LLC are registered investment advisors and money management firms based in Los Angeles, Calif., with more than $15 billion of capital under management. Canyon’s real estate activities focus on providing debt and equity capital to real estate owners, operators, developers, corporations and entrepreneurs, enabling them to capture unique investment opportunities in an exceedingly complex and challenging real estate market.
Canyon has built its reputation on creative underwriting and structuring, reliable commitments, overall professionalism and timely closings. Canyon’s real estate funds include the Canyon Value Mortgage Fund, the Canyon-Johnson Urban Funds, a joint venture with Earvin “Magic” Johnson focused on the development of retail and residential properties in densely populated, ethnically diverse communities, and the Canyon Value Opportunity Fund.
Since 1990, Canyon has completed over $3.6 billion of investments involving 226 real estate and mortgage assets with a total value of over $9.5 billion, including the origination of senior, mezzanine and bridge loans, note acquisitions, recapitalization of partnerships, and the acquisition of over 30 million square feet of real estate. These investments encompass a diverse mix of real estate property types including retail, entertainment, multi-family, industrial, office, hospitality, land, mobile home and mixed-use and mortgage loans secured by such property types.
Contacts:
Sugerman Communications Group
Steve Sugerman, (310) 689-7535
steve@sugermangroup.com
