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Jpmorgan Drove Cmbs Short Into The Ground

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A hedge fund that lost millions betting against commercial real estate now claims that JPMorgan forced it to call off the gamble at the worst time, then pumped up the price of paying its tab. Jerica Capital Management, founded by CRE veteran Warren Ashenmil in 2012, entered into a $125 million contract with JPMorgan in 2017 to short a pool of commercial mortgages weighted heavily toward retail properties. It was a wager by Jerica that The post Bet against retail costs investor big-time appeared first on The Real Deal New York.

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