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Banking & Finance

September 03, 1993|From Times Staff and Wire Reports

Realty Firm Launches Commercial Loan Fund: CB Commercial Real Estate Group of Los Angeles said its new mortgage fund will immediately provide $50 million to refinance commercial real estate loans, primarily in the $1-million to $10-million range. The firm will target relatively small commercial-property owners and apartment owners who have had trouble refinancing because lenders prefer making much larger loans. The initial funding has come from a variety of pension funds and other investors, and an expansion of the program is expected in about a month.

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