(Save the date: RealShare Apartments comes to the Westin Bonaventure, Los Angeles, October 24.)
LOS ANGELES-Those who follow @GlobeStcom on Twitter may have seen a post teasing the announcement a few days ago, but GlobeSt.com has learned that Lowe Enterprises Investors and the Guardian Life Insurance Co. of America have formed LEI Senior Finance LLC, a venture with a major public pension fund. It will invest approximately $164 million in high loan-to-value senior debt secured by hotel, office and multi-family assets in major markets throughout the US.
“This venture demonstrates the continuing benefit of our strategic relationship with Guardian, as they join us in partnering with sophisticated pension fund clients to pursue targeted investment strategies,” explains Bleecker Seaman, CEO of Lowe Enterprises Investors.
LEI Senior Finance will target senior debt investments in operating assets, with a special focus on hotel, office and multifamily assets. The program will provide financing otherwise unavailable from traditional lenders on transitional properties or stabilized properties in need of capital to refinance existing loans.
The venture anticipates making 10 to 15 loans in the $10 million to $20 million range.
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Natalie Dolce
Natalie Dolce, editor-in-chief of GlobeSt.com and GlobeSt. Real Estate Forum, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.
