Sunday, January 18, 2009

DLJ Funds, But Doesn't Really Develop

DLJ Real Estate Capital Partners LP looks to be a member of the Alternative Investments division of Credit Suisse financial organization.

From what I have read on the Internet, here is how Credit Suisse acquired DLJ.

In 2000, the giant investment and brokerage firm of Donaldson, Lufkin, and Jennerette sold its real estate funding business to Credit Suisse First Boston.

The acquired unit was named CSFB Realty.

In 2002, Credit Suisse quietly closed down tha unit, but kept the name DLJ and subsequently created DLJ Real Estate Capital Partners, LP.

There is nothing that I have been able to find that suggests that DLJ has anything to do with planning what types of units would be built at Ponte Vista at San Pedro.

DLJ Real Estate Capital Partners appears to be a financial organization and continues to have the funding to back whoever is attempting to act as a developer for the project.

It is my impression that Mr. Ted Fentin in his role as a representative of DLJ is primarily concerned with the funding and financial management of the project.

I feel it is still fair to request that the Ponte Vista Outreach Team provide the name or names of individuals who actually are supposedly replacing Bob as a developer of the project.

Mr. Fentin may be the one person who give the go ahead with whatever is proposed, but from what I have been reading, his firm doesn't deal with physical project proposals, mitigation, and outreach, other than in a financial way.

As I learn more, I will post more.

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