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ALTERNATIVES

CCRE taps BlackRock managing director to head new investment management business

Chris A. Milner was named managing director and head of investment management at Cantor Commercial Real Estate, confirmed Anthony Orso, CEO.

Mr. Milner is leading the firm's expansion into investment management, which focuses on institutional clients. He reports to Mr. Orso. CCRE was started in 2010 as an affiliate of Cantor Fitzgerald and is a commercial real estate finance company.

“We expect that Chris will help us find investment partners to help build real estate lending capabilities,” Mr. Orso said in a telephone interview.

Mr. Orso said the plan all along was to expand into investment management. The firm will initially look for joint ventures on new products and could get into raising open- or closed-end funds. The investment management arm will be an extension of CCRE's existing platform and will leverage the distribution of parent Cantor Fitzgerald.

CCRE plans to hire an investment team within the next few months to work under Mr. Milner, Mr. Orso said.

Mr. Milner was previously managing director and head of commercial real estate debt at BlackRock (BLK). Spokesman Brian Beades did not return a telephone call by press time with information about his replacement.