PREI, Black Mountain Form CRE Venture

Prudential Real Estate Investors, Parsippany, N.J., has announced the formation of an exclusive lending program with Black Mountain Capital Inc., Burlingame, Calif., that offers short-term bridge loans to the commercial real estate industry.Black Mountain and PREI's Global Merchant Banking Group are managing the joint venture, PIM Black Mountain Domestic Venture I LLC, which will be funded initially with $50 million of capital, PREI said. "The venture will fill a void in the commercial finance industry by focusing on very-high-quality funding opportunities that would not otherwise fit into traditional lenders' underwriting criteria," said John Gregorits, a managing director at PREI. The companies can be found online at http://www.prei.com and http://www.blackmountaincapital.com.