Rainier Capital Management Closes Fourth and Opens Fifth Real Estate Mezzanine Fund

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Dallas, TX-based Rainier Capital Management has formed a new private real estate investment Fund targeting mezzanine financing opportunities.

Having recently closed its fourth diversified real estate fund and twenty-sixth real estate private placement, Dallas, TX-based Rainier Capital Management has launched a new $50 million Fund aimed at providing capital to real estate entities that are deleveraging and recapitalizing their properties. Provided in the form of mezzanine debt or preferred equity, the Fund will capitalize the gap between maturing 70-80% mortgage levels and replacement 50-65% mortgage levels.

In addition, the Fund will participate in first mortgage discounted pay-offs and first mortgage pay-downs in order to extend loan maturities. With more than $500 billion of commercial mortgage debt maturing through 2011, Rainier estimates the market for new mezzanine capital could be $50 billion or more.

Rainier co-founder Tim Nichols states, "Both property owners and lenders have immense pressure to deleverage their real estate assets and our capital will help owners secure refinancing or loan extensions for their projects by paying down principal, building reserves or funding the costs of property-stabilizing tenant and capital improvements."

The Fund will invest in all property types but excludes raw land and development projects. The Fund aims to capitalize positions of $5 million or less per property.

For more information, please visit http://www.rainiercapital.com/mezzanine


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