BEMIDJI, Minn., Aug. 25, 2015 /PRNewswire/ — Gauntlet Private Investments, a real estate-focused private equity firm, announced today that it has secured an $8.5 million loan for a student-housing portfolio in Bemidji, Minn. The property is located near Bemidji State University.
The University has a student body size of approximately 5,000, which is lower than what is required for major student housing investors in the U.S. Additionally, the city has a population of only 15,000, which is considered below tertiary standards for most major lenders.
The loan, which took nearly a year to complete, was further complicated by the inclusion of life settlement policies.
“No other investment banking firm in the country to my knowledge could have succeeded in getting this transaction done,” said Michael Clinton, founder of Gauntlet Private Investments. “With the closing of this deal, we are embarking on new territory, even for Gauntlet.”
The initial tranche of money may be the first of an add-on as the borrowers seek to expand their portfolio with the addition of more units and possibly commercial buildings. Gauntlet Private Investments also secured an equity interest in the property, adding to its growing balance sheet. Real estate professionals across the industry have hailed the acquisition as the “deal of the year” due its complexity.
Founded in 2008, Gauntlet Private Investments is an investment banking firm focused primarily on the acquisition of commercial real estate assets, developments and new ventures. Secondarily, the firm provides best in class financial structures for challenging projects that require extensive experience, superior resources and a highly customized approach.
The firm, whose motto is “Meeting Capital Challenges, Daily,” has completed or provided in excess of $100 million dollarsin capital investment with substantially higher aggregate transaction value. The firm was formerly known as Gauntlet Commercial Real Estate Capital and changed names when it changed directions to include private equity investments alongside providing bridge loans for commercial assets.
Gauntlet Private Investments is headquartered in Los Angeles. For more information, please call (213) 223-6343 or visit www.gauntletpi.com.
For more information contact
Michael Clinton, Founder
Phone: (213) 223-6343
SOURCE Gauntlet Private Investments