CB Richard Ellis, Los Angeles, has formed CBRE Realty Finance, a company that will invest in commercial real estate-related loans and securities.CBRE RF, in which CBRE has about a 5% stake, has raised $300 million through a private placement of 20 million shares of common stock with institutional and "accredited" investors, according to CBRE. The new company will focus on originating, acquiring, investing in, financing, and managing a diversified portfolio of commercial real estate loans and securities, and will "leverage" the investments to produce attractive risk-adjusted return, CBRE said. Keith Gollenberg, a managing director with L.J. Melody, will be chief executive officer and president of CBRE RF. The new company is expected to benefit from CBRE's "local market intelligence" and L.J. Melody's "access to origination channels."

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