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bridge loans
The firm sees the need to educate its investor base about the opportunities in real estate debt.
The firm hired Needham Point Capital co-founders Jeremy Burton and Tristine Lim to lead Blue Light Credit.
The bridge loan was arranged by Gortikov Capital and will be used by AMCAL to recapitalize a Woodland Hills, California, property.
The New York-based manager is expected to close $300m in loans over the next 30 days as debt funding gaps and needs persist.
Continued lack of liquidity in banking system leaves private credit lenders to fill financing gaps.
New York manager originated $160m and $59m loans for multifamily properties in Jersey City.
Former PacWest division will focus on non-recourse bridge and construction financing following move.
The firm is seeking to line up patient individual and institutional capital to target small balance loans on transitional assets.
CFO Darren King says charge-offs of most concern on fourth quarter earnings call.
Boston manager to launch series of private credit funds with sights spanning all US asset classes