Northlight holds $105m final close
Northlight Capital Partners has held a $104.5 million final close for its Northlight Real Estate Opportunity Fund I.
The institutional investors in the opportunistic fund — which will invest in distressed commercial mortgage loans and REO properties and portfolios held by banks and non-bank financial institutions — are exclusively clients of The Townsend Group.
NCP previously helped source, acquire and manage more than 25 commercial real estate investments for a partnership managed by Northlight Financial, an NCP affiliate. These investments include a portfolio of luxury resort properties across the Western United States; debtor-in-possession loans to Atlantic Club Casino, a casino hotel in Atlantic City, N.J., and Specialty Trust, a mortgage REIT based in Reno, Nev