Mariner Real Estate Management buys stake in real estate loans

Real estate and investment firm Mariner Real Estate Management acquired a 25% stake in $101 million of real estate debt after partnering with the Federal Deposit Insurance Corp. to make the purchase.

The portfolio of loans acquired includes 62 performing and nonperforming commercial loans located in Washington, Idaho and Utah.

MREM paid $13.6 million for its initial 25% stake in the loan pool. That amount will be increased to 50% after a return on equity is made. Mariner Real Estate Management will manage, service and handle the eventual disposition of the loans alongside special servicer Cohen Financial.

MREM’s investment in CRE debt is ongoing. The firm finalized three transactions  in the second half of last year, acquiring $75 million in equity associated with loans secured by apartment units and mixed-use developments. Those deals had an unpaid principal balance of $200 million.

Write to Kerri Panchuk.

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