CV Holdings Inc

CV Holdings Inc is a holding company that conducts its business through wholly-owned or majority-owned subsidiaries. The company, formerly known as CBRE Realty Finance, Inc., was organized in Maryland on May 10, 2005, and commenced operations on June 9, 2005. Historically, it operated as a commercial real estate specialty finance company. Its focus was on originating and acquiring various types of loans and securities, primarily in the United States. These included whole loans, bridge loans, subordinate interests in whole loans (B Notes), commercial mortgage-backed securities (CMBS), and mezzanine loans. As of December 31, 2008, CV Holdings Inc also owned interests in seven joint venture assets, with two of these being consolidated in its financial statements. The company was historically externally managed and advised by CBRE Realty Finance Management, LLC, an indirect subsidiary of CB Richard Ellis Group, Inc. and a direct subsidiary of CBRE Melody & Company. As of December 31, 2008, CBRE|Melody owned approximately 4.5% of the outstanding common stock, and certain executive officers and directors owned approximately 2.5%. The management agreement expired on December 31, 2008, ending the affiliation with CBRE and its affiliates. Subsequent to this date, CV Holdings Inc internalized operations by directly hiring employees previously with the Manager and replacing other functions, such as payroll and back office functions, and obtaining standalone insurance. This change eliminated management fees, which are generally replaced by costs previously absorbed by the Manager, primarily compensation and benefit costs.