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The firm anticipates 90 percent of its activity will be in the Sunbelt, where it will allocate debt and equity.
The firm expects to close one or two more deals before year end.
The program will originate loans of $1m to $20m.
The partnership will allow the Los Angeles-based lender to expand its lending and fundraising platforms.
Debt funds are seeing activity boom compared with banks and other lenders as transaction volume and complexity rise.
The firm will retain servicing rights on the financing, which is part of a $108m financing package.
While there is some potential for operational issues, all systems are go for the shift.
The company expects to see strong rent growth over the next two years.
Even with the headline risk around the retail sector, there are selective opportunities for investment and development.
The workhorse of the commercial property finance market is down but might not be out.