Centerlane Capital Raises $20.78M

10/23/18

By Bronson Boucher, NC Biz News

Centerlane Capital, a real estate investment partnership, has filed an offering of $20.78 million in equity raised from pooled investment fund interests under a separate limited liability company—Centerlane MTC Atlanta, LLC—using Centerlane’s Charlotte address.

Partners at Centerlane were not immediately available for comment Tuesday following the Form D filing.

Centerlane focuses investment in the Southeast and lists a diverse mix of middle-tier asset types as recent deals on its website—a $125 million mixed-use development in Charlotte; a $96 million purchase of government-leased Class A suburban office space in Chantilly, Virginia; and a $16.7 million purchase of student housing in Clemson, South Carolina.

Of the $20.78 million raised, $472,500 is set to be allocated as an acquisition fee—typically used for the closing costs of a property purchase. The form specifies that the manager and its affiliates are only entitled to two thirds of the total fee of $472,500.

An estimated $315,000 will be used as payment for executive officers Gregory Blinn, Richard Sesler and Joseph Taylor.

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