Emigrant Enters West Coast RE Market

Emigrant Savings Bank, New York, has announced its entry into the West Coast market with the formation of a wholly owned subsidiary, Emigrant Realty Finance Inc., in Los Angeles.Emigrant Realty, which will be led by Chris Grey and David Feingold, is an extension of the bank's real estate and commercial lending group headed by senior executive vice president and chief credit officer Patricia Goldstein. The new subsidiary has targeted $2 billion to invest over the next 12 to 18 months in a variety of real estate and corporate finance transactions, Emigrant Savings said. "Emigrant is establishing itself as a national capital source for real estate and corporate financing," said Mr. Grey. "We will focus on providing capital for larger, more institutional projects and sponsors." Mr. Grey and Mr. Feingold were previously executives with Highridge Partners.