Anna-Marie Beal
Sponsor Aurora Capital Associates is developing the West Village condominium build.
The firm is looking to offer more HUD loans as an alternative to borrowers in today’s capital-constrained market.
Northwestern Mutual funded the loan.
The imminent sale of a Class A Downtown Manhattan office will provide another important metric.
The financings will be used for projects in Miami and Brooklyn.
The firm is using a tech-driven platform that allows it to more easily control how and when borrowers access capital.
The firm retained some pre-payment flexibility.
The strategy will originate bridge loans on behalf of domestic and international institutional investors.
This is the Washington-based company’s first ever credit-focused investment vehicle.
Debt funds and alternative lenders step into the space left by banks, Real Estate Capital USA data shows.