LEM PURCHASES $3 MILLION MEZZANINE LOAN

LEM Mezzanine, a direct provider of structured finance alternatives for real estate owners, has purchased a $3 million mezzanine loan collateralized by a 276,000 SF retail center located in Lacey, Washington, just outside of Seattle. The center is anchored by a Fred Meyer department store, a subsidiary of Kroger Company.

LEM's loan is subordinate to a 10-year, $31 million first mortgage loan. The loan is interest-only for the first 3-years and amortizes on a 30 year schedule thereafter. "The asset is located in a great infill location and has a strong investment grade anchor which provides stability to the center," said Doug Wilberding a Managing Director with LEM. "The credit tenancy, strong sponsorship and strong market fundamentals are what attracted us to this investment" added Wilberding.

LEM, a series of private equity funds with over $450 million of equity, provides mezzanine loans, preferred equity and B-Note financing from $1 million to $20 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 is member of Independence Capital Partners, a family of private investment management firms with over $11 billion of equity under management.

Visit our website: www.lemcapital.com