Transaction Description: GSP has identified a new debt fund comprised of a group of ex-CMBS professionals that is looking to deploy capital. The fund will target the lending niche between conservative insurance company loans and higher-risk bridge loans and preferred equity. The fund is currently targeting borrowers with short-term maturities who need to refinance and prefer non-recourse debt. In addition to senior debt, the fund will finance purchases of distressed properties and will selectively write B-notes, mezzanine loans and bridge loans. The lender plans to keep the loans on its balance sheet – may consider securitization as an exit strategy when the CMBS market returns.