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Northlight Capital Partners LLC Announces Final Closing of Northlight Real Estate Opportunity Fund I, L.P.

July 8, 2014



NEW YORK--(BUSINESS WIRE)-- Northlight Capital Partners LLC ("NCP"), a real estate debt and equity investment manager, has completed its second and final close of Northlight Real Estate Opportunity Fund I, L.P. (the “Fund”), bringing total commitments to the Fund to $104.5 million. The institutional investors in the Fund, which will invest in distressed commercial mortgage loans and real estate owned properties and portfolios held by banks and non-bank financial institutions, are exclusively clients of The Townsend Group.

NCP previously helped source, acquire, and manage over 25 commercial real estate investments for a partnership managed by Northlight Financial LLC, a NCP affiliate. These investments include a portfolio of luxury resort properties across the Western United States; Debtor-In-Possession loans to Atlantic Club Casino, a casino-hotel based in Atlantic City, and Specialty Trust, a mortgage REIT based in Reno, NV; and the bankruptcy exit financing for Specialty Trust.

NCP plans to continue to opportunistically acquire commercial real estate and land portfolio assets across North America. Chief Investment Officer Ben Gerig commented: “We are thrilled to have Townsend and its clients invest with us in our inaugural institutional fund. We look forward to working with the Townsend investment team to execute on our strategy.”

Scott Booth, Principal with The Townsend Group added, “Our macro investment committee identified an investment theme which it firmly believed provided an attractive risk and return trade-off in the current market environment. Then our fund/manager underwriting team identified Northlight, in which it had strong conviction, to execute the strategy. Townsend worked with Northlight to deliver a fund solution exclusively for our clients.”

About NCP and Northlight Financial

NCP and Northlight Financial have combined to establish a diversified real estate investment platform focused on commercial real estate loans, land portfolios, and REO properties. Northlight Financial, founded in 2002 and registered as an Investment Advisor with the US Securities and Exchange Commission since 2006 (additional information at www.adviserinfo.sec.gov), is managed by Michael Jahrmarkt, Robert Woods, Mark Hirschhorn, and Chris Jahrmarkt. In addition to its real estate activities through NCP, Northlight Financial is a commercial lender that invests in asset-based loans and revenue streams. NCP was established in 2013 as a partnership between Northlight Financial and Hillspoint Partners, LLC, whose members are Ben Gerig, David Gertner, Marshall Burchard, Chris DeStefano and Greg Walter.

About The Townsend Group

Founded in 1983, Townsend Holdings LLC (d/b/a The Townsend Group) is a leading provider of global investment management and advisory services focused exclusively on real estate and real assets. Committed to excellence in investment management and client service, Townsend serves an institutional client base providing custom investment solutions to help meet the needs and objectives of their investment programs. Headquartered in Cleveland, Ohio, the firm has offices in San Francisco, London, and Hong Kong. As of December 31, 2013, Townsend’s regulatory assets under management were approximately $ 11.4 billion1.

1As of December 31,2013, Townsend provided services on behalf of regulatory assets under management of approximately $11,391,348,511.73. Townsend’s regulatory assets under management consisted of $9,140,194,291.73 in discretionary client assets and approximately $2,251,154,220.00 in non-discretionary client assets where the client’s contractual arrangement provides the client with the ability to opt out of or into particular transactions, or provides other ancillary control rights over investment decision-making (a/k/a “quasi-discretionary”).



Northlight Capital Partners

Marshall Burchard, 646-873-6547

Email: mburchard@northlightfinancial.com

or

The Townsend Group

John V. Hackett, 216-781-9090

Email: jhackett@townsendgroup.com


Source: Northlight Capital Partners LLC


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