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The Charleston-based manager’s latest credit opportunities strategy will function as a junior capital partner for the Nashville-based bank’s bridge loan pipeline.
The firm worked with Breslin Realty and Fields Grade Development to refinance debt on a multifamily property in New York.Â
The funding will be used by an affiliate of Madison Realty Capital to refinance the 473-unit Greenpoint Central in the asset’s namesake submarket.
A special use case is emerging for residential-focused bridge lenders.
An increasing number of bridge lenders are growing their platforms or setting up shop as the bank retrenchment continues.
Debt managers see long-term potential in short-term lending.
A self-storage specialist is expanding its bridge lending in the asset class at a time when interest in the niche is rising.
Acquisition volumes are starting to pick up, creating opportunities for well-capitalized private lenders. But downside mitigation remains crucial in ‘structurally uncertain’ times, say PIMCO’s Roman Kogan and Seray Incoglu.
As the market begins to recover, bridge financing is giving borrowers the flexibility and time to stabilize assets and execute business plans, says Canyon Partners Real Estate’s Robin Potts and Jacob Feingold.
Private credit allows investors to hedge against equity market volatility, suggests Stormfield Capital’s Wesley Carpenter.