JER Investors Trust Inc. Reports Recent Developments

Posted by on Oct 13, 2011

JER Investors Trust Inc. (“JERIT”) today summarized for its shareholders the following recent developments:

— The New Manager is an indirect subsidiary of C-III Capital Partners LLC (“C-III”). Joseph Lytle, Robert Phillips and Jenna Unell are employees of C-III. Lawrence Block, William Jarrard and Yvonne Owens are employees of Island Capital Group LLC, which indirectly controls C-III. More information about C-III is provided below.

— These changes to JERIT’s management were effected in connection with a transaction in which C-III purchased the commercial real estate special servicing and collateralized debt obligation (“CDO”) management businesses previously operated by J.E. Robert Company, Inc. (“JER”) and its affiliates. As a result of that transaction, affiliates of C-III have taken over the special servicing (previously performed by JER) of loans collateralizing various commercial mortgage-backed securities (“CMBS”) owned by two subsidiaries of JERIT that have issued CDOs, as well as collateral administration of those CDO entities.

Read the full press release on Market Watch.