Colony Capital Partnering with Argent Management to Manage $1.2 Billion U.S. Land Portfolios

Colony Capital is Among Largest Participants in FDIC Structured Transactions


Irvine, Calif. (February 3, 2011) - Colony Capital, a leading global real estate investment and advisory firm, is partnering with Argent Management LLC to acquire and manage a $800 million portfolio of real estate acquisition, development and construction (ADC) loans that Colony recently acquired from the Federal Deposit Insurance Corporation (FDIC).

Combined with another $400 million portfolio that Argent has already been working with Colony in managing, the combined book value of these portfolios represents $1.2 billion in assets. Argent Management is a provider of real estate services to institutional investors, private owners, developers and financial institutions.

Colony Capital is leading a consortium of investors that joined together to purchase this FDIC offering of loans secured by land assets throughout the U.S. The FDIC seized these loans from failed banks, and these assets include numerous residential and commercial developments that are located in Florida, Michigan, Utah and more than 15 other states.

"We are pleased to partner with Argent on this portfolio," said Paul Fuhrman, a principal at Colony Capital. "Argent is the best in class, and it made sense for Colony and Argent to collaborate in managing these portfolios because of the diverse characteristics of the land assets."

"We are pleased that Colony chose Argent to partner with in acquiring and managing this portfolio," said Dale Strickland, senior vice president of Argent Management. "Colony is one of the largest participants in the FDIC's structured transaction program, and we are honored that our expertise is being called on to maximize the returns on this collection of assets."

About Argent Management

Argent Management LLC is comprised of a diverse team of experts in the real estate industry. It is a real estate management company that is owned in part by principals of SunCal, the largest private developer of master-planned communities in the U.S. Argent is a provider of real estate services to institutional investors, private owners, developers and financial institutions. It provides a full spectrum of services to bring clients from acquisition to disposition while maximizing return on investment. Our company is staffed with experts in a broad range of real estate situations, from complex mixed-use, master-planned communities to diverse portfolios of distressed loans.

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Contact: Joe Aguirre, Argent Management, (949) 777-4043