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NEW YORK CITY-Locally based RCG Longview closes fundraising efforts on its third fund, RCG Longview II LP, which totals out at $292 million. Capital in the fund will be used for a variety of transactions such as bridge, mezzanine and construction loans.

“We have no real target,” VP David Valger tells GlobeSt.com. “We truly are an opportunistic vehicle.” Among the sites the firm has invested in previously are the Empire Hotel, 140 Broadway and 569 Broadway here, the Enron Building in Houston and 175 West Jackson St. in Chicago, Valger points out. The fund tends to have a blend of retail, office, multifamily and to some extent, industrial. And the fund is not geographically concentrated as well with holdings along the Atlantic seaboard, California, Texas and Chicago, among others. Valger desribes the fund’s investments as “very organic” and coming mostly through tried-and-true relationships and word of mouth.

Founding partner Michael Boxer notes that the investors’ expressed confidence in the principals and strategies, despite “significant pressure from our competitors and a historically low-interest rate environment.” <P.RCG, founded in 2001, is comprised principals Peter Cohen and Michael Boxer of Ramius Capital Group, Jeffrey Feil and Jay Anderson of the Feil Organization, Morton Olshan of Mall Properties and Jon Estreich of Estreich & Co. Working in virtually every major market, the fund has made just under 100 investments in its five-year history with products including short-term bridge, mezzanine and participating loans, preferred equity investments, construction financing and special situations. In total, the fund has invested more than $600 million. The fund's predecessor was Longview Funding, which closed its first fund in 1999 with $34 million in commitments.

The fund’s managing partners own more than 30 million sf of retail, office, industrial and hospitality real estate in addition to over 15,000 residential units.

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