Tremont manages a national mezzanine debt program for an open-ended fund with over $2 billion in assets invested in various real estate strategies. Fund A manages stabilized mezzanine loans. Investments are typically subordinate to life company or CMBS first mortgages in the form of a junior “B” or mezzanine position. Individual mezzanine loans range from $3-30 million, have loan-to-value up to 90% and loan terms up to 10 years. Tremont sources, underwrites, closes and services these loan assets. Fund A has made investments in 13 assets with over $53 million of mezzanine debt on more than $444 million of underlying real estate.