stone Real Estate Advisers LLC, a real estate investment manager, has closed the Cornerstone Core Mortgage Fund I LP, having raised $1.75 billion of investment capital for the fund and a separate account. The fund, which invests in low-leverage core mortgages secured by properties with quality ownership and sustainable cashflows, considers a range of property types, including industrial, office, retail, hotel and multifamily. ‘We think there is good opportunity to earn attractive, stable risk-adjusted returns on a current basis given market conditions,’ says Robert F. Little, chief investment officer – Finance, and a senior member of Cornerstone's management team. ‘The mounting level of debt maturities, although masked by the 'pretend and extend' phenomenon, may well overwhelm commercial mortgage debt capacity in the coming months. It's a good time to have capital to invest in core mortgages.’ SOURCE: [link=http://www.cornerstoneadvisers.com ]Cornerstone Real Estate Advisers
