Värde’s investor base includes global institutional investors including trusts, endowments, foundations, pension funds, corporations, and funds-of-funds.
Värde Partners Closes Commercial Real Estate Loan in Phoenix
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MINNEAPOLIS – Värde Partners, an alternative investor in broad strategies including commercial and residential mortgage markets, today announced that it has closed on a newly originated $13.4 million loan secured by a 284 room hotel adjacent to MetroCenter Mall located in Phoenix, Arizona.
The loan provides short term capital to reposition the hotel as a Hilton Double Tree, which helps the borrower execute their strategy in a dynamic and improving submarket of metropolitan Phoenix. “This deal is a great opportunity to provide flexible capital to help an institutional sponsor re-brand a solid physical asset,” said Jon Miller, Director of Originations for Värde Partners.
Värde’s entrance into the commercial real estate loan market follows the retraction of traditional banks from non-core markets and their divestiture of non-core businesses, leaving many credible borrowers without access to needed capital. “The MetroCenter Mall redevelopment is an exciting catalyst for this hotel. High-density, urban repositioning is a natural fit for our capital,” said Jim Dunbar, a Managing Director of Värde. Värde’s mortgage business is a provider of capital to the commercial and residential mortgage markets, and focuses on providing flexible capital and certainty of execution.
About Värde Partners:
Värde Partners is a $12 billion global alternative investment adviser focused on investing capital and resources across multiple segments and markets that includes corporate assets and sovereign debt, residential mortgages, real estate, specialty finance and transportation. Värde sponsors and manages a family of private investment funds with a global investor base that includes foundations and endowments, pension plans, insurance companies, other institutional investors, and private clients.