Värde Closes on Five Commercial Mortgage Originations

MINNEAPOLIS – Värde Partners, the $12 billion global investment firm, announced today that it has recently closed commercial mortgage originations in five states across the U.S. The aggregate amount of the loans exceeds $93 million.

“We are pleased with the interest in the marketplace for our commercial mortgage products,” said Brian Schmidt, Partner and Head of Värde’s mortgage business. “We believe there is clear demand for our flexible capital and timely execution we provide sophisticated borrowers,” he continued. Värde’s mortgage business participates in activities across the $14 trillion U.S. commercial and residential real estate market. Värde dedicates capital and resources to both commercial and residential mortgages as well as related opportunities.

The recent originations include:

A $44 million loan and a $21 million loan secured by multi-building office properties in West Palm Beach, Florida and Bloomington, Minnesota, respectively; and
$19 million, $5 million and $4 million loans secured by neighborhood retail centers in Rocklin, California, Kenosha, Wisconsin and Payson, Arizona, respectively.

Värde’s entrance into the commercial real estate loan market follows the significant retraction of traditional banks from non-core markets and their divestiture of non-core businesses, leaving many credible borrowers without access to needed capital. “These originations build on our existing expertise in the U.S. mortgage markets and we are excited that we are able to provide borrowers solutions to execute on their underlying business plans,” said Jim Dunbar, Managing Director at Värde.

About Värde Partners:
Värde Partners is a $12 billion global alternative investment firm that employs a credit-oriented, value-based approach to investing across a broad array of geographies, segments and asset types, including real estate, corporate credit, mortgages, specialty finance, and transportation. The firm 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. Now in its third decade, Värde employs 250 people with main offices in Minneapolis, London and Singapore and additional offices around the world.

Värde Partners Announces Houston Office Opening

HOUSTON – Värde Partners, the global alternative investment firm, today announced the opening of a new office in Houston, Texas. The office will be led by Markus Specks, Managing Director who joined Värde in 2008 and leads the firm’s energy business.

Värde’s presence in Houston reinforces the firm’s commitment to the energy sector and further demonstrates its commitment to establishing local offices where they strengthen the firm’s investment capabilities. The Houston office is Värde’s 14th office globally.

“We see the energy sector as a key contributor to the firm’s long-term growth objectives, and are proud to call Houston home.” said Markus Specks. “While we have been long committed to energy, our new local presence will allow us to better develop and strengthen relationships with industry partners, and provide on the ground insights for our investors.”

Värde’s energy business provides tailored capital solutions to fit the dynamic needs of an evolving industry. The firm’s deep structuring expertise affords a flexible approach to investing, which can include credit, private equity, and asset-level exposure.

The new office is located at 609 Main Street in Houston’s downtown central business district, and is initially staffed by five employees.

About Värde Partners:
Värde Partners is a $13 billion global alternative investment firm that employs a value-based approach to investing across a broad array of geographies, segments and asset types, including real estate, corporate credit, mortgages, specialty finance, energy, transportation, and infrastructure. The firm 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. Now in its third decade, Värde employs more than 250 people globally with regional headquarters in Minneapolis, London and Singapore.

Värde Partners and Indies Capital Partners announce Investment Partnership – See Significant Opportunity in Indonesia Private Debt

SINGAPORE – Värde Partners, the US $12 billion global alternative investment firm, and Indies Capital Partners, an Indonesia-focused asset manager, today announced a strategic alliance including the creation of an Investment Platform. The new platform aims to invest in private debt opportunities across industries in Indonesia.

“We believe that there is a compelling opportunity to lend to Indonesian businesses for the foreseeable future. We have a good experience with the Indies team and know of their capabilities, as well as the strength and depth of their relationships in Indonesia,” said Hanli Mangun, a Managing Director in the corporate credit business at Värde.

“This partnership is evidence of the growth trajectory of Värde in the Asia Pacific region,” said Ilfryn Carstairs, Co-Chief Investment Officer and Head of Asia Pacific for Värde Partners. “We are committed to extending our differentiated approach to investing in the region, connecting strong local knowledge and partners to our global platform. As we continue to grow our staff and investor base here, these partnerships provide an additional avenue for growth,” he continued.

Denny Goenawan, CEO and Founder of Indies, said “Värde has a strong reputation as a business builder and creative partner, and we have been working well together in recent years. We are excited by the business and expansion plans we have developed with them, and are looking forward to jointly growing our investments in Indonesia.”

About Värde Partners:
Värde Partners is a US$12 billion global alternative investment firm that employs a credit-oriented, value-based approach to investing across a broad array of geographies, segments and asset types, including real estate, corporate credit, mortgages, specialty finance, transportation, and infrastructure. The firm 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. Now in its third decade, Värde employs 250 people with main offices in Minneapolis, London and Singapore and additional offices around the world.

About Indies Capital Partners:
Indies Capital Partners is a leading Indonesia-focused asset manager for private credit and special situations. Since established in 2009, Indies has invested more than US$500 million on behalf of its institutional investors and private clients. Indies holds a Capital Markets Services license from the Monetary Authority of Singapore.

Värde Partners Hires Ria Nova as Head of Americas Business Development and Investor Relations

NEW YORK – Värde Partners, the global alternative investment firm, today announced the hire of Ria Nova as Head of Americas Business Development and Investor Relations.

Based in Värde’s New York office, Ria will lead the team responsible for developing and cultivating relationships with Värde’s investors in the Americas region.

“We are committed to helping our investors achieve their goals and are focused on building strong, long-term relationships,” said Jon Fox, Partner and Global Head of Business Development and Investor Relations. “Ria’s impressive industry experience will help us to further these objectives and we are very pleased to welcome her to Värde.”

Ria has nearly 20 years of industry experience delivering alternatives investment solutions to institutions, intermediaries and family offices. She spent the past 14 years serving in various leadership roles at Neuberger Berman in the U.S. and Asia where she focused on the development and distribution of alternatives solutions including private equity and hedge funds.

She received an M.B.A. from Harvard Business School and a B.A. from the University of Rochester.

“The firm’s reputation, investment expertise and culture are what drew me to Värde,” said Ria. “Värde’s focus on value positions it well as a steward of investor capital. I am excited to join the team and work with Värde’s investors to meet their needs.”

Värde Partners Acquires CreditShop

MINNEAPOLIS – Värde Partners, the global alternative investment firm, today announced the acquisition of CreditShop. CreditShop is an independent consumer finance company that uses advanced data analytics and technology to underwrite and serve a broad consumer base.

CreditShop’s asset base includes approximately $1.6 billion of MasterCard credit cards acquired from Barclaycard in March of 2017.

“We are excited to have Värde as our new owner and strategic partner, bringing unique resources, capabilities and experience within consumer finance,” said Daniel Duncan, CEO of CreditShop.

CreditShop is the 25th largest MasterCard and Visa credit card issuer in the U.S. following the March transaction with Barclaycard. It plans to grow its business with the launch of its own card products in 2018.

“Värde’s acquisition of CreditShop provides an attractive entry point into the $500 billion consumer credit card industry and is an extension of our strategy of growing specialty finance platforms globally,” said Aneek Mamik, North America Head of Specialty Finance at Värde Partners.

“We believe the experienced leadership team and scale of the platform will allow CreditShop to gain significant market share in a segment largely underserved by the traditional banking system following the financial crisis.”

Värde was advised by AHP Partners LLC and Kirkland & Ellis LLP. CreditShop was advised by Credit Suisse.

About CreditShop:
CreditShop is a consumer finance company headquartered in Austin, TX, with an additional office in Wilmington, DE. The company offers credit products to prime and near-prime consumers. CreditShop operates in all 50 states, and is a top 25 MasterCard and Visa credit card issuer.

About Värde Partners:
Värde Partners is a $13 billion global alternative investment firm that employs a value-based approach to investing across a broad array of geographies, segments and asset types, including specialty finance, real estate, corporate credit, mortgages, energy and transportation. The firm 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. Now in its third decade, Värde employs more than 270 people globally with regional headquarters in Minneapolis, London and Singapore.

Värde Partners and Touchstone Communities Acquire Land for New Master Planned Community in North San Diego County

SAN DIEGO – Touchstone Communities, a San Diego-based real estate investment and land development company, and Värde Partners, a global alternative investment firm, today announced the acquisition of two fully-entitled development sites in North San Diego County, California. The properties will collectively form San Diego’s newest master planned community called Park Circle (www.parkcirclelife.com).

Located in Valley Center, Park Circle will provide a total of 632 homes, a neighborhood retail center, a centrally located public park, three private recreation facilities, private parks, dog parks, sports courts, community gardens, and an extensive trail network.

“Park Circle will provide an opportunity for couples and families of all ages to purchase a home in a safe, walkable environment, where they can experience a lifestyle and vibe that has proven to be successful in other north county master planned communities like 4S Ranch and Del Sur, but at Park Circle the homes are at more affordable price points,” said Addison Garza, Executive Vice President of Touchstone.

Park Circle is anticipated to provide some of the most affordably priced single-family homes in North San Diego County, offering eight different home types to serve the needs of a diverse mix of home buyers. Home sizes will range from approximately 1,600 to 3,400 square feet including single story homes on larger lots. Fifty-two homes are reserved as affordable housing for qualified low-income buyers. Park Circle will be the new heart of Valley Center and is the major component of what is known as the South Village. It is ideally located within a short commute to North San Diego County’s largest employment centers.

“Värde has extensive experience in residential real estate development globally, and we believe the investment in Park Circle is a well-timed opportunity to deliver much needed housing in a highly constrained market,” said Brendan Bosman, Managing Director of U.S. Real Estate at Värde Partners. “We are excited to partner with Touchstone on this project.”

Touchstone expects to break ground in mid-2018 with a grand opening expected in mid-2019.

About Touchstone Communities:
Touchstone Communities is a San Diego-based real estate investment and land development company. Touchstone takes pride in planning and building distinguished residential and mixed-use communities throughout California. Touchstone’s expertise includes acquiring, entitling, and developing master planned communities that include cutting edge home designs, retail shopping centers, office and professional buildings, apartment complexes, golf courses, recreational amenities, and regional infrastructure. Touchstone is committed to integrating sustainable living and health conscious principles into each of our communities that create more desirable places to live, work, and play. Build Smart, Live Healthy, Be Happy. www.touchstonecommunities.com

About Värde Partners:
Värde Partners is a $13 billion global alternative investment firm that employs a value-based approach to investing across a broad array of geographies, segments and asset types, including real estate, specialty finance, corporate credit, mortgages, energy and transportation. The firm 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. Now in its third decade, Värde employs more than 270 people globally with regional headquarters in Minneapolis, London and Singapore.