GID rolls out debt platform to target bridge, transitional opportunities

Boston manager to launch series of private credit funds with sights spanning all US asset classes

GID is rolling out a proprietary credit platform to target institutional borrowers with a new slate of real estate debt solutions, including a series of private credit funds still in development.

The Boston-based real estate investment and management firm launched GID Credit on October 14 with Jeff Thompson and Adam Gibbons as co-heads of the new business. GID said the platform will offer transitional, floating rate bridge loans across all asset classes in the US.

Thompson takes up co-leadership responsibilities after working as head of private commercial real estate debt for PIMCO Alternative Investment Strategies from 2017 to 2020. He joined GID in January this year and will be president of GID Credit.

Gibbons was tapped to work as GID Credit’s chief investment officer in August this year after having spent 11 years at CIM Group, most recently as a principal at the New York-based firm.

GID Credit plans to directly originate, acquire and manage commercial mortgage loans, mezzanine loans and other commercial real estate debt investments on behalf of a series of to-be-launched private credit funds, according to Gibbons’ LinkedIn profile.

Rounding out the GID Credit’s senior leadership are Dan Jagoe and Jennifer Keller. Jagoe is the former head of asset management and underwriting at Annaly Commercial Real Estate Group and will be working as GID Credit’s head of asset management. Keller will be head of capital markets for GID Credit and is currently a vice-president in GID’s debt capital markets division.

GID’s real estate portfolio comprises more than 48,000 multifamily units, 23 million square feet of industrial space, 1 million square feet of retail and office space and mixed-use development projects in various US markets. The firm said it intends to tap into its existing ESG capabilities to fuel similar efforts and practices at GID Credit.