RCG Longview gets in mezz.

RCG Longview, a New York City based real estate opportunity manager, has signed a letter of intent with Fannie Mae to be the provider of mezzanine financing under Fannie Mae's 'DUSa Plus' product.

The DUS[TM] Plus product will provide borrowers the opportunity to obtain additional loan proceeds on qualifying transactions through a 'turn-key' loan process.

This product will be offered through the Fannie Mae DUS Lender network, for qualifying multi-family transactions where the senior Fannie Mae debt is between $3 and $25 million. Fannie Mac and RCG Longview are in the process of documenting the terms set forth in the letter of intent and finalizing the terms and conditions of the DUS Plus product, after which time qualifying DUS lenders will be able to start accepting applications. RCG Longview is jointly controlled by Ramius Capital Group, LLC, a privately owned investment management firm that pursues low-volatility, absolute returns, and The Fell Organization, a private owner/ manager of residential, retail and commercial real estate located throughout the United States.

"We are grateful to the hard-working team at Fannie Mae who, faced with a difficult decision, ultimately chose a group that will work diligently to service the needs of the DUS network, while adding value to each transaction from its significant experience as a lender, operator and owner of real estate in almost every major sub-market in the continental United States", said Michael Boxer--Partner of Ramius Capital Group, LLC and co-manager of RCG Longview.

Since the inception of RCG Longview in 1999, the managers, Peter Cohen and Michael Boxer (Ramius Capital Group, LLC), Jeffrey Feil and Jay Anderson (The Feil Organization), Morton Olshan (Mall Properties), and Jon Estreich (Estreich & Company) have originated more than $750 million in real estate mezzanine debt and other related instruments through RCG Longview fund vehicles.