Two new investments from Torchlight Investors have taken the total deployment of the firm’s Debt Opportunity Fund IV vehicle to about $500 million. The fund will hold a final close on more than $950 million soon, a source with knowledge of the fund told Private Debt Investor.
Torchlight announced that it had provided $68.7 million of senior and mezzanine financing for the acquisition of a portfolio of multifamily properties located in suburban Chicago and Cincinnati on Monday. The firm also announced that it had provided $30.3 million of senior mortgage and preferred equity acquisition financing to a portfolio of Pennsylvania student housing properties at Penn State, Bloomsburg University and Behrend College.
Torchlight Debt Opportunity Fund IV invests in commercial real estate securities such as CMBS, mezzanine debt, B-notes, preferred notes and financing for distressed mortgages.
Torchlight has acquired more than $20 billion in commercial real estate debt investments since its inception in 1995.