Commercial real estate investment manager Pembrook Capital Management has recently closed four real estate loans.

Commercial real estate investment manager Pembrook Capital Management has recently closed four real estate loans.

Pembrook provided a total of USD25.5m of financing in four transactions, comprised of one bridge loan, two mezzanine loans, and one subordinated loan, for properties that had a total capitalisation of USD122.3m.

The loans were:

• USD9m bridge loan for acquisition and repositioning of vacant 14,000 square-foot retail property in Miami Beach, Florida
• USD5.5m mezzanine loan for refinancing of six-building, 600,000-square-foot portfolio of flex/office buildings in Cincinnati, Ohio and Columbus, Ohio
• USD6m mezzanine loan for acquisition and light rehabilitation of 200-unit multifamily property in Columbia, Maryland (Baltimore-Washington corridor)
• USD5m subordinate loan secured by stabilised 528-unit garden apartment complex in Canyon Country, California (Santa Clarita Valley)

"Our latest transactions demonstrate Pembrook's sophistication and flexibility as a provider of capital," says Stuart J. Boesky, Pembrook's president and chief executive officer. "The Pembrook team distinguishes itself through the unique ability to understand both the borrower's needs and the potential of the underlying real estate, which in turn enables us to identify what we believe is the best risk-adjusted investment opportunity in each situation."