PREI managing director Margie Custis says the upshot is the newcompany gets US Bank into the securitization business and givesPREI the ability to grow its platform. PREI will provide allcustomary CMBS business management functions for the new companyand US Bank will provide a warehouse facility and cash managementservices. Both parties will originate loans on behalf of theventure, which will have about 175 loan originators sourcinginvestment opportunities across the United States.

US Bank is a significant real estate lender, with over $27billion in real estate assets under management. It provides securedreal estate loans, unsecured credit, syndication, structuredfinance and mezzanine lending.

PREI is the nation's fourth largest institutional real estatemanager, with about $30 billion in debt and equity commercial realestate assets under management. PREI primarily focuses on providingnon-recourse financing solutions for stabilized property includingfirst mortgages and credit tenant loans, as well as someconstruction, bridge and mezzanine financing.

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