McDowell Properties, through an affiliate, purchased the "B-Piece" of a recent commercial mortgage securitization at a significant discount to face value. The mortgages are secured by a $1.3BN portfolio of high quality, diversified real estate throughout the United States. McDowell Properties believes that it is an opportune time to invest in mortgage securitizations as lenders continue to underwrite conservatively and real estate fundamentals continue to improve. The company now has controlling investments in securitizations consisting of over $6BN of loans.
McDowell Properties is a leading real estate investment company that focuses on the acquisition, management and repositioning of multifamily properties in growth markets throughout the United States. The current portfolio consists of over 18,000 apartment units. The company is based in Dallas and has regional offices in New York, Miami, Raleigh and San Francisco. The senior management team has owned and managed in excess of $7.5BN of real estate in 40 of the top 50 MSAs, with a particular focus on multifamily. McDowell is currently making investments with discretionary capital as well as through joint ventures with institutional investors.