LEM Adds Frank Sparrow

LEM Mezzanine (LEM) announced today the hiring of Frank Sparrow as Vice President, Capital Markets. Mr. Sparrow will be responsible for managing LEM's capital markets activities including management of its credit facilities and execution of its CDO's.

Mr. Sparrow comes from Capmark Finance Inc. where, as Vice President, Financial and Portfolio Manager, he managed a $5.5 billion balance sheet of approximately 500 commercial loans, mezzanine and preferred investments, B pieces and CMBS that he priced for the balance sheet, securitizations, CDO's and syndications. Prior to joining Capmark, Mr. Sparrow worked for WMF Capital Corp. and BancOne Mortgage Capital Markets in Houston, TX. Mr. Sparrow has over ten years of experience in the commercial real estate industry, and he received his Bachelor of Arts in Economics from Washington and Lee University in Lexington, VA.

"Frank has a strong capital markets background, and we are delighted that he has joined the team," said Herb Miller, 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. Loans are generally non-recourse for up to 90% of value with terms of up to 10 years. LEM also specializes in providing financing in transactions where there is existing first mortgage debt.

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