COMMERCIAL CAPITAL FILES FOR CHAPTER 11 BANKRUPTCY

GREENWOOD VILLAGE, CALIF. — Greenwood Village-based Commercial Capital Inc., and its subsidiary CCI Funding I LLC, has filed for Chapter 11 bankruptcy protection. The company is a commercial real estate lender, which provides short-term commercial mortgage financing. The bankruptcy filing will leave approximately 12 large Rocky Mountain region construction projects half-built. The filing is due to the underperformance of the company’s loan portfolio, a Denver-based hedge fund and an international bank that provided financing to CCI. The two institutions failed to honor funding commitments totaling more than $30 million. Commercial Capital plans to lay off 75 percent of its workforce or approximately 15 employees. Additionally, the company plans to reorganize under Chapter 11 and continue to represent and broker commercial real estate loans throughout the United States.