LEM Adds Doug Wilberding

LEM Mezzanine (LEM) announced today the hiring of E. Douglas Wilberding as Managing Director. Mr. Wilberding will be responsible for originating, underwriting and closing mezzanine loans, preferred equity, bridge loans and other forms of structured financing.

Mr. Wilberding comes from Legg Mason Real Estate Services (now Grosvenor Investment Management) where, as Director of Acquisitions, he sourced and closed investments for all product types in all markets. Prior to Legg Mason Real Estate Services, Mr. Wilberding worked for CarrAmerica Realty Corporation where he served as an Investment Associate in the metropolitan Washington, DC Area. Mr. Wilberding has over 12 years experience in the commercial real estate industry, and received his Master of Science in Real Estate Finance and Capital Markets from New York University in 1999 and a Bachelor of Arts in French and Economics from Saint Michael's College in Burlington, VT.

"We are confident that Doug's experience will add to the strength of our team," said Jay Eisner, a Partner at LEM.

LEM, a series of private equity funds with over $450 million of equity, provides mezzanine financing from $1 million to $20 million and first mortgage bridge loans from $15 million to $50 million for commercial and multifamily properties nationwide. LEM writes larger deals if they involve a portfolio of assets or special situations. In general, non-recourse financing is available for up to 90% with terms of up to 10 years. LEM also specializes in providing financing in transactions where there is existing first mortgage debt.