LoanCore Capital

What LoanCore Capital does

LoanCore Capital is a national commercial real estate lender and debt investment manager founded in 2008 by Mark Finerman and headquartered in Greenwich, Connecticut. Operating as a subsidiary of DivCore Capital (the parent platform that also owns DivcoWest and reports $32B AUM as of March 2025), LoanCore originates CRE debt across the full capital stack, including fixed-rate 5–10 year loans, floating-rate 2–5 year loans, mezzanine debt, preferred equity, CMBS, and CRE CLO securities, with individual loan sizes ranging from $15 million to $500 million or more. The company was originally established as the Yellowbrick Debt Fund in 2008 with $1.75 billion to invest in distressed CRE debt, and has since expanded into a multi-vehicle platform that includes the Jefferies LoanCore origination and securitization partnership (2011), DivCore Sub Debt Club I (2013), the LoanCore Capital Credit private perpetual CRE debt REIT (2016), the LoanCore Securities Fund (2023), and the Berkadia LoanCore Fund (2025).

The platform's distinguishing infrastructure is its securitization execution: nine CRE CLO financings totaling $8.6 billion in volume and seven COR branded conduit securitizations totaling $5.8 billion, alongside $14.4 billion in capital commitments. As of September 2025, LoanCore had funded $33.4 billion in CRE investments across 1,008 transactions. It operates five regional banking offices (Greenwich, Chicago, San Francisco, Beverly Hills, West Palm Beach) with dedicated managing directors in each market and runs a relationship-driven, balance sheet lending model that originates directly with property owners and developers while also sourcing through mortgage brokers and intermediaries.

LoanCore is backed by institutional capital partners GIC and CPP Investments, which fund the LoanCore Capital Credit REIT and LoanCore Capital Markets vehicles. Revenue is generated through a combination of origination and structuring fees on individual loans, net interest spread on balance sheet loans held for securitization or sale, asset management fees on the perpetual REIT and securities fund, and capital markets execution economics from CLO and conduit issuance. Customers span property owners and developers (hotel, multifamily, industrial, mixed-use, healthcare, office), mortgage brokers who source transactions, and institutional investors participating in the managed debt vehicles.

Name

LoanCore Capital

Legal name

LoanCore Capital, LLC

Website

https://loancore.com

Company type

Private

Founded year

2008

Operating status

Operating

Headcount range

11–50 employees

Short description

LoanCore Capital is a national commercial real estate lender and debt investment manager offering fixed and floating-rate loans, mezzanine debt, preferred equity, and CRE CLO securities, serving property owners, developers, and institutional investors under the DivCore Capital platform.

Ownership category

akta.pro rank

Product category

Commercial Real Estate Lending

NAICS

Nondepository Credit Intermediation (5222)

SIC

Mortgage Bankers & Loan Correspondents (6162)

akta.pro primary industry

Balance-Sheet / Portfolio CRE Lending (FSALADAG)

akta.pro secondary industries

Real Assets — Real Estate Debt (Whole Loans, Mezzanine, CMBS/CLO) (FSAHAIAB), Real Estate Private Credit (CRE Debt) (FSANADAG), Private Credit / Direct Lending (FSAAAHAG)

Keywords

• Commercial real estate lending
• CRE debt investment
• Mezzanine financing
• CMBS securitization
• Bridge loans

Headquarters

HQ city

Greenwich

HQ country

United States

HQ region

North America

Offices5 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Commercial Mortgage Origination: Origination of commercial real estate mortgages across all property types, including fixed-rate 5-10 year loans and floating-rate 2-5 year loans. Serves transitional and stabilized properties with loan amounts from $15M to $500M+.
2. Distressed Debt Investing: Investment in distressed commercial real estate debt, including mezzanine debt and preferred equity positions. Founded in 2008 as a distressed CRE debt investor.
3. Securitization (CMBS/CLO): Creation and management of CMBS and CRE CLO securities, including warehouse lending facilities and balance sheet financing solutions. 9 CLO Financings ($8.6B) and 7 COR Branded Conduit Securitizations ($5.8B).
4. Debt Investment Management: Management of private perpetual CRE debt REIT (LoanCore Capital Credit) and securities fund (LoanCore Securities Fund) for institutional investors.
5. Berkadia LoanCore Fund: Origination of multifamily rental property loans through partnership fund established in 2025.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels3 records

Core offering

LoanCore Capital is a national commercial real estate lender and debt investment manager that originates and acquires senior and subordinate debt across the CRE capital stack. It provides fixed-rate (5-10 year) and floating-rate (2-5 year) commercial mortgages, mezzanine debt, preferred equity, and CMBS/CRE CLO securities for property owners, developers, and institutional investors. The firm operates as a balance sheet lender with proprietary securitization platforms and dedicated regional banking offices across the U.S.

Product overview

LoanCore Capital is a national commercial real estate lender and debt investment manager that operates as a platform of specialized funds and financing products. The core offerings include fixed-rate and floating-rate loans (5-10 year and 2-5 year terms respectively), mezzanine debt and preferred equity, CMBS and CRE CLO securities, and proprietary conduit securitizations. The platform has evolved through multiple fund iterations since 2008, including Yellowbrick Debt Fund (distressed debt), Jeffries LoanCore (origination), DivCore Sub Debt Club I (sub-debt), LoanCore Capital Credit (private REIT), LoanCore Securities Fund (CLO securities), and Berkadia LoanCore Fund (multifamily). LoanCore manages $33.4B in funded volume across its various products.

Differentiator

Problem solved

Functional benefit

Products and services

• Fixed Rate Loans (5-10 Year)
• Floating Rate Loans (2-5 Year)
• Mezzanine Debt & Preferred Equity
• CMBS & CRE CLO Securities
• COR Branded Conduit Securitizations
• Yellowbrick Debt Fund
• LoanCore Capital Credit REIT
• LoanCore Securities Fund
• Berkadia LoanCore Fund

Quantifiable outcome

• $33.4B in total CRE investments funded as of September 2025
• +2 more outcomes

Named customers7 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Four partnerships are on record, tiered core, major and minor.

• DivcoWestcoreStrategic or Co-development PartnerSister company under DivCore Capital platform bringing over 30 years of equity real estate investment expertise. DivcoWest has $16B AUM as of March 2025. The affiliation enhances LoanCore's ability to work effectively with real estate borrowers through vertically integrated real estate platform capabilities.
• BerkadiamajorStrategic or Co-development PartnerPartnership established in 2025 for origination of multifamily rental property loans through the Berkadia LoanCore Fund. Berkadia is a commercial real estate services firm.
• JeffriesmajorStrategic or Co-development PartnerPartnership established in 2011 for CRE mortgage origination and securitization platform. Jefferies is a global investment banking firm.
• The Chetrit OrganizationminorOthersThe Chetrit Organization was the previous owner of 1 Whitehall Street in New York's Financial District. LoanCore foreclosed on the property in December from The Chetrit Organization before selling it for over $100M.

Scale indicators11 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Blackstone Mortgage Trust: Large publicly traded mortgage REIT originating senior floating-rate CRE loans across property types — closest scaled analog to LoanCore's first-mortgage origination franchise.
• Ladder Capital Corp: Public CRE mortgage REIT and balance-sheet lender originating senior floating-rate loans, mezzanine, and preferred equity — directly comparable business model and product set to LoanCore.
• TPG RE Finance Trust: Externally managed mortgage REIT primarily originating floating-rate CRE first mortgage loans — directly comparable origination platform and target sponsors.
• Two Harbors Investment Corp: Mortgage REIT with material CRE senior and subordinate loan exposure — comparable CRE debt strategy and fund-like structure to LoanCore Capital Credit REIT.
• Starwood Property Trust: Diversified mortgage REIT actively originating and acquiring CRE debt across senior and subordinate tranches — overlapping product mix and institutional LP profile to LoanCore.
• KKR Real Estate Finance Trust: Externally managed mortgage REIT focused on CRE senior loans — comparable origination strategy and KKR Capital Markets adjacency analogous to LoanCore's Jefferies LoanCore partnership.
• Apollo Commercial Real Estate Finance: Mortgage REIT focused on senior CRE debt origination and subordinate debt — directly overlaps with LoanCore's loan products and investment strategy.
• ACRE (Arbor Realty Trust): Specialty CRE lender with multifamily focus; the Berkadia LoanCore Fund JV launched in 2025 directly enters Arbor's turf, making them a highly relevant directional peer.

Emerging players

• Basis Investment Group: CRE debt manager with active CLO issuance and subordinate debt strategies — emerging manager with thematic overlap to LoanCore's securitization and mezzanine offerings.

Broad incumbents

• Goldman Sachs Mortgage Co. Large investment-bank-affiliated CRE lending and securitization franchise; serves as the broader incumbent comparator providing capital markets and conduit financing analogous to LoanCore's CLO and COR platforms.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/loancore

Revenue estimate

Valuation estimate

Number of profiles

Profiles14 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about LoanCore Capital