Published On: Mon, May 15th, 2017

Morrison Street Capital Raises $200m for Mezzanine Debt Fund

By Dipo Olowookere

At least $200 million has been raised by Morrison Street Debt Opportunities Fund for Mezzanine Debt Fund.

It was gathered that on April 30, 2017, Morrison Street Debt Opportunities Fund held its final close, reaching its target with total equity commitments of $200 million.

The firm provides small-balance mezzanine capital, with investment balances generally ranging from $2 million to $10 million, to real estate market participants across a diversified set of property types in the top 100 MSAs nationwide.

MSDO’s investments are structured as either mezzanine debt, B-notes or preferred equity, tailored to meet the specific needs of each situation.

ALSO READ  Med-View Airline Declares N773m Profit for 2016

Morrison Street Capital formed MSDO to capitalize on the current opportunity in the debt capital markets, as well as to leverage its experience as debt and equity investors in the mid-market real estate sector.

MSDO targets stabilized properties, either secondary assets in primary markets or prime assets in secondary markets, and provides long-term mezzanine capital to create tailored solutions for financing gap shortfalls. Unlike many other providers of real estate debt, MSDO does not utilize fund-level leverage.

MSDO attracted capital from both existing and new investors. Investors in the fund include pension plans, endowments, foundations, family offices and registered investment advisors, with investor interest stemming from both the United States and Europe. Of note, most of these have been investors in prior Morrison Street funds.

ALSO READ  Abuja Airport Runway 57.5% Completed—Minister

Thus far, MSDO has made 21 mezzanine investments that, in aggregate, represent approximately 66% of the fund’s total commitments.

Accord Capital Partners LLC, along with its affiliate Accord Europe Limited, served as exclusive global capital advisor to Morrison Street.

©Business Post Nigeria. Permission to reproduce, publish, broadcast, rewrite or redistribute this content or any other on this website in whole or in part is granted so far appropriate credit is given to as the source.  
ALSO READ  FG To Re-activate Presidential Council on Tourism
If you seek further information, please contact us via or call 08180851450.   Do you have a story  for us or you want your press releases published on our platform or you simply want us to cover your event? Kindly reach us through the above contact details. Thank you.

About the Author

- Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan.

Leave a comment

XHTML: You can use these html tags: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>

%d bloggers like this: