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Commercial Mortgage Alert

Fairview Launches Its Next Debt Fund

Fairview Partners Investment Management is seeking $250 million of equity for its next loan-origination fund.

The vehicle, Fairview Investment Fund 8, would use a line of credit and recycling to boost its loan book to $350 million or $400 million. It’s aiming for an initial equity close around this summer and is targeting a 12% to 18% return.

The Seattle-based operator is not using a placement agent.

The fund would be the largest in Fariview’s series, far eclipsing the $81.9 million Fund 6, which held a final close in 2021 and is fully invested. The $61.5 million Fund 7, which held a final close last year, also is fully deployed.

Fairview has originated some $650 million of loans since it was launched in 2011 by co-founding principals Carson Rasmussen and Nels Stemm. Rasmussen, who oversees fundraising for the shop, among other duties, was previously the head trader at Archon Capital Management. Stemm, whose duties include running investing and asset management, was previously a development manager for the Kapalua Resort in Maui.

Overall, Fairview’s fund series has raised about $300 million of equity combined, including an opportunistic property vehicle.

Source: Green Street