Chicago & Midwest + Downtown + Finance | January 20, 2023

Pearlmark has reached the final closing of its fifth high-yield investment fund, which will serve as its exclusive subordinated debt investment vehicle

Pearlmark Closes Fifth High-Yield Investment Fund

Chicago-based Pearlmark has reached the final closing of its fifth high-yield investment fund, Pearlmark Mezzanine Realty Partners V, L.P. Pearlmark Mezz V will serve as the firm’s exclusive subordinated debt investment vehicle, fulfilling borrower demand for gap financing solutions in refinancings, recapitalizations, acquisitions, and development projects.

The final closing for Pearlmark Mezz V totaled more than $210 million in commitments, including discretionary managed accounts. Pearlmark expects to have another $200 million in co-investment capital that will invest alongside Pearlmark Mezz V in select transactions.

Stephen Quazzo, CEO of Pearlmark, said, “Pearlmark has been an active commercial real estate lender since 2001 with nearly 150 mezzanine loans closed to date. Pearlmark Mezz V represents a continuation of this strategy and we are grateful for the support of our investors, borrowers, and senior lenders as we look to fill a critical need in the real estate capital stack.”

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).