Core Mortgage Fund Closed by Cornerstone Real Estate Advisers

After raising $1.75 billion of investment capital, ""Cornerstone Real Estate Advisers LLC"":http://www.cornerstoneadvisers.com/index.html, a Hartford,[IMAGE]

Connecticut-based real estate investment manager, has closed the Cornerstone Core Mortgage Fund I LP, which invests in low-leverage core mortgages secured by properties with quality ownership and sustainable cash flows.

""We think there is good opportunity to earn attractive, stable risk-adjusted returns on a current basis given market conditions,"" said Robert F. Little, chief investment

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officer of finance and a senior member of Cornerstone's management team. ""The mounting level of debt maturities, although masked by the 'pretend and extend' phenomenon, may well overwhelm commercial mortgage debt capacity in the coming months. It's a good time to have capital to invest in core mortgages.""

According to Cornerstone, the mortgage fund considers a range of property types, including industrial, office, retail, hotel, and multifamily. It invests primarily in the United States, but also has the ability to invest up to 10 percent of its assets in Canada. The company said investors in the fund include both U.S. domestic public funds and foreign sovereign investors.

With a dedicated real estate debt platform, Cornerstone has an extensive history of originating and servicing real estate debt, and the company said it has successfully invested and managed this debt through several macroeconomic, interest rate, and real estate cycles. Globally, Cornerstone said it provides a comprehensive offering of real estate debt, equity, and securities expertise and services, managing or servicing approximately $30 billion in assets upon the finalization of its integration of Babson Capital Management's real estate finance group.