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FUNDRAISING NEWS | November 13, 2024
Tags: Real Estate, Private Credit
Pearlmark announced the closing of its sixth high-yield credit investment fund, Pearlmark Mezzanine VI, with more than $300M in commitments and said it expects a final close in the first quarter of 2025 that will exceed the fund’s $400M target.
The Chicago-based real estate investment firm expects loan sizes from the fund will range from $5M to $50M or more, with potential co-investment on larger deals. Pearlmark Mezzanine VI targets subordinated debt investments to fulfill borrower demand for gap financing solutions in recapitalizations, mergers and acquisitions, and development projects within the top 30 metropolitan areas of the US.
Funds from the Pearlmark Mezzanine VI will go primarily to multifamily and adjacent sectors including student housing and build-for-rent communities, continuing the legacy of its predecessor Mezzanine V fund, which is nearly fully committed in its high-yield credit investments and expects to close on three investments by year-end.
Source: https://www.pearlmark.com/news
Written By: Dakota
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