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2025-02-18 22:47:00
Seattle-based investment firm Fairview Partners has closed the first $75 million of its eighth fund.
Fairview is looking to raise a total of $250 million for the new fund. The fund will target real estate loans in the distressed debt and small- to mid-balance loan segment.
“Distress in the market is widening out from office to other property types, and permanent lenders have begun to tire of extending their loans and are looking to clean up their balance sheets,” Nels Stemm, founding principal at Fairview, said in a news release.
Stemm founded Fairview in 2011 with Carson Rasmussen, also a principal with the firm. Fairview is a debt fund manager, meaning the firm focuses on fixed-income investment pools. The firm’s specific aim is buying and originating real estate loans, and it also originates bridge financing.
The new fund has a target life of four to six years. According to Fairview, the firm has invested more than $750 million across almost 500 loans. Fairview said in the release the new fund will invest nationwide.
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Fairview’s seventh fund has invested more than $50 million across 20 investments as of the end of 2024. The firm has office space on Capitol Hill and lists about a dozen employees on its website.
Before founding Fairview, Rasmussen spent more than three years at Seattle-based Archon Capital Management and three years at Seattle-based Milliman, according to his LinkedIn page. Stemm, meanwhile, spent four years as a project manager at the land management company Maui Land & Pineapple, his LinkedIn page notes. Both Stemm and Rasmussen are University of Washington graduates.
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