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. It operates as a commercial real estate specialty finance company. Its primary focus is on originating and acquiring various types of loans and securities, predominantly within the United States. These include whole loans, bridge loans, subordinate interests in whole loans (also known as B Notes), commercial mortgage-backed securities (CMBS), and mezzanine loans. As of December 31, 2008, CV Holdings Inc also held interests in seven joint venture assets, with two of these being consolidated in its financial statements. Historically, the company was externally managed and advised by CBRE Realty Finance Management, LLC, an indirect subsidiary of CB Richard Ellis Group, Inc. (CBRE) and a direct subsidiary of CBRE Melody & Company (CBRE|Melody). As of December 31, 2008, CBRE|Melody owned approximately 4.5% of the company's 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. Following this, CV Holdings Inc internalized its operations by directly hiring employees previously with its Manager and replacing other functions like payroll and back office services, and securing standalone insurance coverage. This change eliminated management fees, which are generally replaced by costs previously absorbed by the Manager, primarily compensation and benefit costs.