Marathon Plans IPO

Marathon Real Estate Finance, a New York-based commercial real estate finance company, is planning an initial public offering of its common shares.The firm has filed a registration statement with the Securities and Exchange Commission relating to the proposal, in which it states that the IPO is likely to be finalized in the third quarter. The firm invests in whole commercial mortgage loans and loan participations. The co-founders of the company are Bruce Richards and Louis Hanover, both of whom were employed with Smith Barney prior to founding the company in 1998, Marathon reported. Marathon said it expects to finance its purchases with warehouse lines of credit, repurchase agreements, and bank credit for the short term, and collateralized debt obligation funding over the long term. After the IPO, Marathon said it expects to own a portfolio of about $1.3 billion of commercial real estate-related assets.