BOSTON - Bank of Boston Corp. has formed a real estate capital markets group that will offer expanded capital-raising and advisory services to commercial real estate firms and other corporations with real estate assets.
The unit will be led by managing directors Matthew E. Galligan and Michael D. Coster, who will report to John K. Giannuzzi, managing director of corporate finance.
The group will offer capital-raising services, including underwriting, arrangement and syndication of floating-rate debt, private placements of senior and subordinated debt and equity, and asset securitization through a conduit program.
The group also will advise in mergers, recapitalizations, joint ventures, and valuations.
Target clients include real estate investment trusts, developers, and corporations that own real estate.
Sources of capital include pension funds, insurance companies, bank loan investors, and high-net-worth individuals.