Mariner Real Estate acquires loan portfolio

LEAWOOD, Kan.

Mariner Real Estate Management LLC said Friday that it worked with bank regulators to buy a portfolio of real estate loans worth about $760 million.

The portfolio includes about 1,100 residential and commercial acquisition and development loans in 24 states from 20 banks.

Mariner acquired a 40 percent managing member interest for approximately $52 million in the limited liability company created by the Federal Insurance Deposit Corp. The FDIC is retaining the remaining 60 percent equity interest.

Cohen Financial, based in Chicago, will provide the loan administration and asset management services for the transaction.

Mariner Real Estate Management is part of Mariner Holdings LLC, a $7 billion wealth and asset management company.