Secured Capital Corp

Secured Capital Corp. co-founder and Chairman Stephen A. Roth has stepped down, the Los Angeles real estate investment banking firm announced. Roth established the company in 1990 with D. Michael Van Konynenburg and Charles P. Toppino, fellow alumni of Drexel Burnham Lambert, the stock brokerage operated by onetime junk bond king Michael Milkin. No new chairman has been named. Roth stepped down to pursue investments in Europe, Japan and other countries, the company said. -- Roger Vincent

Los Angeles real estate investment banking firm Secured Capital Corp. has agreed to be acquired by Eastdil Realty, the New York-based real estate investment banking subsidiary of Wells Fargo & Co., the companies said. The combined company will be known as Eastdil Secured. Terms of the transaction were not disclosed. It is expected to close early next year. Eastdil executives Benjamin V. Lambert and Roy H. March will be chairman and chief executive, respectively, of the new company. D.

Los Angeles real estate investment banking firm Secured Capital Corp. has agreed to be acquired by Eastdil Realty, the New York-based real estate investment banking subsidiary of Wells Fargo & Co., the companies said. The combined company will be known as Eastdil Secured. Terms of the transaction were not disclosed. It is expected to close early next year. Eastdil executives Benjamin V. Lambert and Roy H. March will be chairman and chief executive, respectively, of the new company. D.

Secured Capital Corp. co-founder and Chairman Stephen A. Roth has stepped down, the Los Angeles real estate investment banking firm announced. Roth established the company in 1990 with D. Michael Van Konynenburg and Charles P. Toppino, fellow alumni of Drexel Burnham Lambert, the stock brokerage operated by onetime junk bond king Michael Milkin. No new chairman has been named. Roth stepped down to pursue investments in Europe, Japan and other countries, the company said. -- Roger Vincent

Commercial real estate investment brokers Steve Silk and Jay Borzi, two of property services giant Cushman & Wakefield Inc.'s biggest producers, are leaving to join boutique real estate investment banker Secured Capital Corp. Silk and Borzi, of New York-based Cushman & Wakefield's Los Angeles South Bay office, will be senior managing directors and principals at Secured Capital, headquartered in West Los Angeles.

What happens to the billions in loans held by failed thrifts or left lurking on the books of banks and insurance companies? A number of investors and real estate specialists are forming new companies throughout the country to match buyers and sellers of these problem loans, similar in some respects to the way brokers trade stocks. The potential market is small compared to the size of the $3.9-trillion market in U.S. stocks but still is considerable. The nation's banks had $74.

One of Southern California's biggest contiguous collections of commercial real estate is on the sales block. The institutional owners of Warner Center's signature development, the 2.3-million-square-foot Warner Center Properties portfolio in Woodland Hills, have selected Secured Capital Corp. of Los Angeles to find a buyer, industry observers say.

Cincinnati-based Madison Marquette bought most of the 551,847-square-foot Manhattan Village Shopping Center at Rosecrans Avenue and Sepulveda Boulevard in Manhattan Beach from a group headed by San Francisco's AMB Institutional Realty Advisors and including Santa Monica's Macerich Co. Madison Marquette's Steve Plenge wouldn't disclose what his company paid for the property, other than to say the price was less than $90 million. Secured Capital Corp. represented the seller.

Investor Group Buys into HomeFed Portfolio: The federal Resolution Trust Corp. sold real estate loans with a book value of $735 million to the group for about $490 million. The 178 notes were held by HomeFed Bank of San Diego, a $12.4-billion-asset savings bank that failed a year ago. Most of the properties are apartment buildings on the West Coast. The group, consisting of the partnership Aldrich, Eastman & Waltch, along with Secured Capital Corp., J. E. Robert Co.

Commerce Business Park office and industrial complex in Commerce has been acquired by two buyers for an estimated total of $136 million. San Francisco-based AMB Property Corp., a large industrial-oriented real estate investment trust, bought 1.38 million square feet of industrial space, 190,000 square feet of "service center" buildings and 56,000 square feet of office and support retail facilities for an estimated $100 million.

One of Southern California's biggest contiguous collections of commercial real estate is on the sales block. The institutional owners of Warner Center's signature development, the 2.3-million-square-foot Warner Center Properties portfolio in Woodland Hills, have selected Secured Capital Corp. of Los Angeles to find a buyer, industry observers say.

Commercial real estate investment brokers Steve Silk and Jay Borzi, two of property services giant Cushman & Wakefield Inc.'s biggest producers, are leaving to join boutique real estate investment banker Secured Capital Corp. Silk and Borzi, of New York-based Cushman & Wakefield's Los Angeles South Bay office, will be senior managing directors and principals at Secured Capital, headquartered in West Los Angeles.

What happens to the billions in loans held by failed thrifts or left lurking on the books of banks and insurance companies? A number of investors and real estate specialists are forming new companies throughout the country to match buyers and sellers of these problem loans, similar in some respects to the way brokers trade stocks. The potential market is small compared to the size of the $3.9-trillion market in U.S. stocks but still is considerable. The nation's banks had $74.

To resolve a long legal dispute among partners that developed Loews Coronado Bay Resort, a U.S. Bankruptcy Court judge has ordered the sale of the 440-room property for a minimum bid of $90.5 million. Patrick Deming of Secured Capital Corp., the West Los Angeles-based real estate investment banking company handling the sale of the property, said that the bankruptcy filing and sale are unrelated to the resort's business operations. The sale ordered by Judge Peter W.

Leaders in development, finance, asset management and other disciplines will discuss the effects of technology on real estate, the link between the economy and commercial real estate, future prospects for development, and other real estate-related topics at the 2000 Fall Forum to be presented Sept. 28 by the Southern California chapter of the National Assn. of Industrial and Office Properties. Participants will include Victor J. Coleman, president and chief executive of Arden Realty Inc.