JER Investors Trust Inc., a McLean, Va.-based company that originates and acquires commercial real estate structured finance products, and JER Partners have announced the closing of a $220 million private equity fund that will invest in loans secured directly or indirectly by real estate.The fund will invest in B-notes, mezzanine loans, whole mortgage loans, preferred equity, commercial mortgage-backed securities, and CMBS-related products. However, nonperforming loans and single-family residential debt and mortgages are outside the scope of the targeted investments, the companies said. Both companies will receive management fees and a percentage of aggregate profits. JER Investors and JER Partners, the private equity arm of J.E. Robert Cos., can be found on the Web at http://www.jer.com.
