Sector developments and company hires

C-PACE partnership
Eyzenberg & Company and Greenworks Lending have formed Eyzenberg Green Capital, a partnership dedicated to funding commercial real estate transactions through commercial PACE. Eyzenberg Green Capital is a direct balance sheet provider, with significant lending capacity. The aim is to achieve a low cost of capital for C-PACE financing, supported by permanent capital and multiple funding outlets.

‘No Data’ consultation
ESMA has published a consultation paper that aims to help market participants and securitisation repositories understand its expected maximum use of ‘No Data’ options contained within a securitisation data submission. The ‘Guidelines on securitisation repository data completeness and consistency thresholds’ outline an initial calibration of thresholds to be applied by securitisation repositories when verifying the completeness and consistency of disclosure templates submitted to them under the technical standards (TS), recently published by the European Commission, that set out the key elements of the disclosure obligations for securitisation transactions and the operational standards of securitisation repositories. The consultation is open until 16 March and ESMA aims to publish a final report on the guidelines as close as possible to the publication of the TS in the Official Journal.

North America
Cassin & Cassin has bolstered its agency lending, CMBS and balance sheet lending practices with the hiring of four associate attorneys. Jeremy Doster, Jordi Kushner and Alison Mackenzie will be based in the firm’s New York City office, while David Hall joins its Purchase, New York office. Doster rejoins Cassin’s CMBS and balance sheet lending practices, having previously worked at the firm from 2013 to 2015. Kushner joins the agency lending practice from Platzer, Swergold, Levine, Goldberg, Katz & Jaslow, while Mackenzie joins the CMBS and balance sheet lending practices from Cerberus Capital Management. Hall joins Cassin’s CMBS and balance sheet lending practices, having previously worked at Hughes, Hubbard & Reed and Rosenberg & Estis.