Capital Consulting Firm Celestial Fund I Reaches for the Stars in Miami

Eugene Rutenberg has opened Celestial Fund I, LLC. in Miami, FL.

Rutenberg, who is the company’s CEO, established Celestial Fund in 2018 as a personal investment vehicle; it is now expanded into a capital consulting firm that raises debt and preferred equity for various types of commercial properties on behalf of investors and developers.

Celestial Fund I aims to line up agency and private-label debt on transition and stabilized properties across all major sectors nationwide. Senior loans will range from $2 million to $400 million. Mezzanine and preferred-equity financing will be at least $2 million to $200 million, and the firm will also arrange construction loans of at least $20 million.

On spec home construction (non-owner occupied) and multifamily bridge loans, Celestial Fund I will offer loan-to-cost ratios of up to 85% if the projected stabilized loan-to-value ratios do not exceed 75%.

Rutenberg initially plans to hire two originators with at least five years of experience and an underwriting analyst with at least two years of experience. They would join Rutenberg, in the firm’s new downtown Miami office.