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Bailey McCann, Opalesque New York: Los Angeles-based Archway Capital has launched a $150 million distressed lending program and has expanded its origination team. The new funding will be deployed over the next 36 months.
The distressed lending program will include first mortgage debt, mezzanine capital, as well as preferred and CO-GP equity between $3 million and $15 million secured by performing and non-performing residential and commercial real estate, or on notes securing those assets.
The distressed lending program comes alongside Archway's existing work in short-term, non-recourse, fixed-rate senior debt between $2 million and $20 million up to 75% LTV for the acquisition or recapitalization of industrial, multifamily, office, single family and select internet-resistant retail assets in high-density and urban markets throughout the United States.
Archway has added to the origination teams to support the expansion of its lending platform. Ex-Fundrise founding partner Max Kirschenbaum has joined the firm as Director. Kirschenbaum will be responsible for sourcing investment opportunities and developing new investment strategies.
Greg E. Schecher has also joined the firm as Director responsible for the East Coast region with a specific focus on the Southeast United States. In prior roles, Schecher served as a senior member of the origination teams at Money360, NAI Global, and Keystone Bridge Capital....................... To view our full article Click here
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