Cornerstone Closes $315M Mortgage Debt Fund

Law360, New York (April 10, 2012, 3:41 PM EDT) -- Connecticut real estate investment giant Cornerstone Real Estate Advisers LLC has closed its newest mortgage debt fund after receiving $315 million in capital contributions, Cornerstone said Tuesday.

The real estate investment adviser said it had closed the Cornerstone Enhanced Mortgage Fund LP. Cornerstone Chief Investment Officer Robert F. Little said in a statement that the fund received contributions from both existing Cornerstone clients and new investors.

The fund will invest in first mortgage debt secured by real estate that has recently had an ownership change or...
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