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Article: CRIIMI MAE hires Friedman, Billings, Ramsey & Co. (Commercial).(Brief Article)
- Article from:
- Mortgage Banking
- Article date:
- July 1, 2002
CopyrightCOPYRIGHT 2002 Mortgage Bankers Association of America. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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THE BOARD OF DIRECTORS OF CRIIMI MAE, Rockville, Maryland, has hired investment banking firm Friedman, Billings, Ramsey and Co. Inc. (FBR) to assist the board with an evaluation of strategic alternatives designed to maximize shareholder value. FBR will help the board analyze opportunities concerning refinancing of CRIIMI MAE's existing debt and other strategic alternatives, including the possible sale of assets or the company.
CRIIMI MAE Chairman William B. Dockser said, "We have been committed to maximizing shareholder value since CRIIMI MAE was founded in 1989. Since emerging from Chapter 11 in April 2001, the company has been pursuing strategies for replacing ...