TriLyn and Tuckerman Form Carpathia
GREENWICH, CT -- 06/24/2009

TriLyn LLC and The Tuckerman Group LLC, the real estate affiliate of State Street Global Advisors, announced today the formation of a joint venture to provide institutional clients strategic services for managing distressed real estate equity and debt portfolios. The new company, Carpathia Real Estate Advisors, is led by senior executives of TriLyn and Tuckerman who are experienced in working through cyclical real estate downturns, including the early 1990s RTC period.

Carpathia, named after the lead rescue ship in the Titanic tragedy, offers its clients:

  • Critical assessment of existing investment/loans positions including add-on funding evaluation and implementation
  • Limited partner advocacy and partnership resolution
  • Workout or restructuring of non-performing or under-performing investments
  • Sponsor/borrower evaluation and oversight
  • Forbearance, foreclosure or deed-in-lieu decision-making and execution
  • Development and direction implementation of asset-level business plans and exit strategies

Tuckerman and TriLyn’s combined assets under management totals approximately $5.3 billion in direct debt and equity investments, separate accounts, investment funds, REITS and CMBS as of May 31, 2009.

Mark Antoncic, TriLyn’s managing partner, said, “Carpathia pools the talents of cycle-tested company leaders with significant knowledge and expertise in finding solutions for complex portfolio problems. We are an advisor with a principal mindset and proven ability to formulate and execute successful strategies across property types, regional markets and debt/equity structures.”

Tuckerman Chairman and CEO Chip Lauckhardt said, “Carpathia offers the resources of two complementary teams with a nimble, creative mindset to provide client focused solutions with objective analysis, independent perspective and results-oriented creative strategies.”

The Tuckerman Group LLC is a State Street Global Alliance company formed in 1998 that provides a full range of real estate investment advisory services including value-added and opportunistic private equity product offerings, and public real estate securities. TriLyn LLC is a boutique investment firm formed in 2002 that serves as both a principal and an advisor for debt-oriented real estate investments including senior and subordinate structured investments, high-yield subordinate and mezzanine debt, and CMBS.

The information we provide does not constitute investment advice and it should not be relied on as such. It should not be considered a solicitation to buy or an offer to sell a security. It does not take into account any investor’s particular investment objectives, strategies, tax status or investment horizon. We encourage you to consult your tax or financial advisor. All material has been obtained from sources believed to be reliable, but its accuracy is not guaranteed. There is no representation or warranty as to the current accuracy of, nor liability for, decisions based on such information. Past performance is no guarantee of future results.

This document contains certain statements that may be deemed to be forward-looking statements. All statements, other than historical facts, contained within this article that address activities, events or developments that SSgA expects, believes or anticipates will or may occur in the future are forward-looking statements. These statements are based on certain assumptions and analyses made by SSgA in light of its experience and perception of historical trends, current conditions, expected future developments and other factors it believes are appropriate in the circumstances, many of which are detailed herein. Such statements are subject to a number of assumptions, risks, uncertainties, many of which are beyond SSgA’s control. Readers are cautioned that any such statements are not guarantees of any future performance and that actual results or developments may differ materially from those projected in the forward-looking statements.

 
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