Värde Provides €70 Million Refinancing Loan for Dublin Multifamily and Hospitality Properties

LONDON – Värde Partners, a leading global alternative investment firm specializing in credit and credit-related assets, today announced that an entity owned by Värde-managed funds has provided a €70 million loan to the Moran Group for the refinancing of commercial real estate assets in Dublin, Ireland.

The loan is backed by the newly developed Rockpoint apartment complex in south Dublin as well as the Red Cow Moran Hotel and adjacent Red Cow Inn pub located in southwest Dublin. The Moran Group, run by the Moran family of prominent hoteliers, has owned and operated the Red Cow complex for more than 30 years. Rockpoint, completed in January 2024, is the newest addition to their portfolio of residential properties.

“We would like to thank Värde Partners for backing us on this financing, and we look forward to growing our business with their continued support,” said Michael Moran, a Director at the Moran Group.

“This deal exemplifies Värde’s tailored, partnership approach to structuring financing solutions for strong borrowers backed by well-located assets,” said Tony Iannazzo, a Partner at Värde. “We are pleased to partner with the Moran Group during an exciting chapter in their history, particularly with the launch of Rockpoint, bringing high-quality housing to the undersupplied Dublin market. We welcome opportunities to work with asset owners across Europe as they navigate a dynamic real estate market.”

Värde has 30 years of experience investing in real estate credit and assets with deep expertise across all major asset classes. Värde’s global real estate team is supported by in-house asset management professionals as well as a partnership with an industry-leading servicer and asset manager. As an originator of real estate credit solutions, Värde seeks to provide flexible capital and certainty of execution to borrowers.

About Värde Partners
Värde Partners is a leading global alternative investment firm specializing in credit and credit-related assets. Founded in 1993, the firm has invested more than $100 billion across the credit quality and liquidity spectrum in both public and private markets. Värde currently manages approximately $13 billion in assets with teams in North America, Europe, and Asia Pacific focused on Corporate & Traded Credit, Real Estate, and Financial Services & Diversified Private Credit. For more information, please visit www.varde.com.

Värde Promotes Shannon Gallagher and Tony Iannazzo to Partner

NEW YORK and LONDON – Värde Partners, a leading global alternative investment firm specializing in credit and credit-related assets, today announced the promotions of Shannon Gallagher and Tony Iannazzo to Partner. In addition to joining the firm’s partnership, Shannon will now serve as Global Head of Business Development and Investor Relations and Tony will serve as Chief Operating Officer.

“We are proud to announce the promotions of Shannon and Tony to our partnership, which reflect Värde’s commitment to cultivating and rewarding our world-class talent,” said Brad Bauer, Co-CEO and Co-CIO of Värde Partners. “Shannon and Tony exemplify the values we hold dear, demonstrating a strong work ethic and excellent leadership capabilities as well as an unwavering commitment to our investors.”

“Värde’s success depends on the strength of our people, and during their time at Värde, Shannon and Tony have been catalysts for growth and innovation across our firm,” added Co-CEO and Co-CIO Ilfryn Carstairs. “We are excited to continue to benefit from their leadership and operational expertise as we seek to drive sustained value for our investors.”

This year, Värde has recognized the outstanding contributions of around 20 team members with promotions across various departments and global offices.

About Värde Partners
Värde Partners is a leading global alternative investment firm specializing in credit and credit-related assets. Founded in 1993, the firm has invested more than $100 billion across the credit quality and liquidity spectrum in both public and private markets. Värde currently manages approximately $13 billion in assets with teams in North America, Europe, and Asia Pacific focused on Corporate & Traded Credit, Real Estate, and Financial Services & Diversified Private Credit. For more information, please visit www.varde.com.

Värde Named 2023 Real Estate Debt Manager of the Year, Americas by Private Debt Investor

NEW YORK and MINNEAPOLIS – Värde Partners is honored to be named Real Estate Debt Manager of the Year, Americas as part of Private Debt Investor’s 2023 awards.

Private Debt Investor’s annual awards acknowledge the achievements of investment managers, allocators, and advisors across the private debt industry. This recognition is the culmination of a broad-based voting process among industry participants.

“It is an honor to be recognized by investors and industry peers as a leader in real estate credit investing,” said Jim Dunbar, Partner and Head of Real Estate Lending at Värde. “Värde has a well-established platform, with robust origination and asset management capabilities, that allows us to lend confidently throughout cycles. We are pleased to support the financing needs of quality real estate borrowers in search of reliable capital solutions as we seek to drive strong results for our investors.”

This achievement comes on the heels of another active year of origination for Värde’s commercial real estate lending platform. Throughout 2023, Värde continued to originate first mortgages secured by well-located collateral spanning multifamily, student housing, hospitality, and mixed-use assets across the United States.

Notable transactions include:

$76 million for the acquisition of the St. Regis hotel in Chicago, Illinois.
$73 million for the refinancing of a multifamily property in San Francisco, California.
$69 million for the refinancing of a new multifamily development in Brooklyn, New York.
$63 million for the refinancing of Vie Towers student housing in Hyattsville, Maryland.
$57 million for the acquisition of the InterContinental hotel in Houston, Texas.
$49 million for the refinancing of a portfolio of student housing properties in California.

Värde has originated over $6.7 billion in CRE loans since 2017 and is strategically positioned to address growing demand as the debt maturity wall and bank liquidity challenges magnify the need for capital solutions.

About Värde Partners
Värde Partners is a leading global alternative investment firm specializing in credit and credit-related assets. Founded in 1993, the firm has invested more than $100 billion across the credit quality and liquidity spectrum in both public and private markets. Värde currently manages approximately $13 billion in assets with teams in North America, Europe, and Asia Pacific focused on Corporate & Traded Credit, Real Estate, and Financial Services & Diversified Private Credit. For more information, please visit www.varde.com.

Disclaimer: The award referenced does not reflect the experiences of any Värde client and readers should not view such information as representative of any particular client’s experience or assume that they will have a similar investment experience as any previous or existing client. The award is not indicative of the past or future performance of any Värde product or service and should not be relied upon as an indication of future performance of Värde or any of its funds. The methodology for the Private Debt Investor (PDI) awards is as follows: PDI calls for submissions of award nominations from industry participants. After the nomination deadline closes, PDI’s editorial team considers the nominations alongside its own field research to construct shortlists for each category. Shortlists are published and opened to voting by industry participants. There are no sponsors or panel of judges, and respondents are not allowed to vote for their own firm. The selection of Värde to receive the award was based in part on subjective criteria and, therefore, it is possible that a different editorial team or group of voters may have arrived at a different outcome.

Värde Commits $1.3 Billion in Asset-Based Private Credit Transactions in 2023

NEW YORK and LONDON – Värde Partners, a leading global alternative investment firm specializing in credit and credit-related assets, today announced that it committed $1.3 billion across its asset-based lending and diversified private credit platform in 2023. These investments facilitated approximately $9 billion of commercial and consumer loans in North America and Europe.

“Market dislocation, exacerbated by bank regulation and liquidity challenges, presents a significant opportunity for Värde to step in as a strategic partner, originating financing for underserved borrowers and providing liquidity solutions,” said Aneek Mamik, New York-based Partner at Värde. “We believe Värde’s expertise across the many facets of lending, from owning financial services platforms to loan servicing, is a competitive edge as we source and provide exposure to attractive, downside-protected investments on behalf of our investors.”

For more than 30 years, Värde has served as a premier credit and liquidity provider, investing across capital structures, industries, and market cycles. In recent years, Värde has expanded its origination team and capabilities to meet the growing financing and liquidity needs. Värde’s approach is informed by deep sector expertise and a global relative value perspective.

The firm’s priority themes in 2024 include:

Commercial Finance: Loans and leases to small and midsize businesses, including business-essential equipment finance, receivables finance, inventory finance, and SME financing across industries such as technology, industrial, manufacturing, and specialty vehicles.
Consumer Finance: Senior secured loans for prime and near-prime borrowers backed by financial assets, such as home equity, auto, and other titled vehicles.
Diversified Private Credit: Lending against or investing in assets or contractual cash flows that are often less correlated to other financial assets, including fund finance and homebuilder finance.

“The widening capital supply/demand gap is driving increased lending opportunities across nearly all markets and sectors, particularly opportunities to partner with non-bank lenders as they look to the private markets to support their lending to the real economy,” said Barbara Richter, London-based Managing Director. “Importantly, the breadth of our platform allows us to be selective.”

“We are pleased to have successfully tailored solutions for many high-quality borrowers last year,” added Monty Cook, New York-based Senior Managing Director. “Our expertise in providing capital to support asset growth across a wide array of asset classes has positioned Värde as a preferred lender, and we look forward to working with new and familiar partners in 2024.”

About Värde Partners

Värde Partners is a leading global alternative investment firm specializing in credit and credit-related assets. Founded in 1993, the firm has invested more than $100 billion across the credit quality and liquidity spectrum in both public and private markets. Värde currently manages approximately $13 billion in assets with teams in North America, Europe, and Asia Pacific focused on Corporate & Traded Credit, Real Estate, and Financial Services & Diversified Private Credit. For more information, please visit www.varde.com.

Värde Appoints Brad Bauer to Co-Chief Executive Officer

NEW YORK – Värde Partners, a leading global alternative investment firm, today announced that Brad Bauer has joined Ilfryn Carstairs to lead the firm as Co-Chief Executive Officer.

“Brad has demonstrated exceptional leadership and vision throughout the years, and this elevation was a natural progression that received the full support of the partners,” said George G. Hicks, Co-Founder and Co-Executive Chair of Värde. “Värde has operated with co-leaders at the helm for much of the firm’s history, and we believe this structure reflects the realities of running the business today during a dynamic period in the industry.”

“Our intentional leadership framework with Co-CEOs in the U.S. and Asia aligns with the global nature of our firm and our LP base,” said Ilfryn, Co-CEO and Co-CIO of Värde. “It underscores Värde’s unwavering focus on delivering for our investors as we continually align our platform with the investing environment and the needs of our LPs. Brad and I have worked together for over 16 years, and we leverage each other’s strengths. I am very much looking forward to having him alongside me as Co-CEO.”

Brad has over 20 years of experience in the alternatives industry and has held various investing and business leadership roles since joining Värde in 2007. He continues to oversee Värde’s private markets investing as Co-CIO.

About Värde Partners

Värde Partners is a leading global alternative investment firm specializing in credit and credit-related assets. Founded in 1993, the firm has invested more than $100 billion across the credit quality and liquidity spectrum in both public and private markets. Värde currently manages approximately $13 billion in assets with teams in North America, Europe, and Asia Pacific focused on Corporate & Traded Credit, Real Estate, and Financial Services & Diversified Private Credit. For more information, please visit www.varde.com.

Värde Partners and Freehold Capital Management Form Partnership to Acquire Master-Planned Communities

BOSTON and MINNEAPOLIS – Freehold Capital Management, a prominent developer of master-planned communities and build-to-rent neighborhoods, and Värde Partners, a leading global alternative investment firm, announced the formation of a partnership to acquire two expansive master-planned communities: Savannah Quarters in Pooler, Georgia and Grande Dunes in Myrtle Beach, South Carolina.

Savannah Quarters is a 2,600-acre mixed-use master-planned community. Located approximately 14 miles from Savannah, Georgia, the community is home to more than 2,800 families with approximately 700 remaining homes. Grande Dunes is a 2,200-acre mixed-use master-planned community that is home to more than 2,300 families with multiple remaining parcels to be developed.

The assets acquired include current and future home sites, commercial parcels, and amenities including Grande Dunes’ marina and Ocean Club. Under Värde and Freehold Capital Management’s ownership, Savannah Quarters and Grande Dunes will continue to actively develop new neighborhoods, with additional lots expected to be available in the near term.

“We are excited about our partnership with Värde Partners and the acquisition of Savannah Quarters and Grande Dunes. This venture marks a significant step forward for Freehold Capital Management. These master-planned communities offer substantial opportunities for growth and development, and we are committed to maximizing their potential. With our combined expertise and resources, we aim to enhance these communities and create lasting value in Pooler, Georgia, and Myrtle Beach, South Carolina. We look forward to continuing to seek opportunities together and drive success in the world of master-planned communities and real estate development,” Casey Tischer, Principal at Freehold Capital Management.

“With continued strong demand for housing in major Sunbelt markets, we believe these communities offer a compelling and complementary addition to our existing portfolio of master-planned communities. Värde has 30 years of experience in U.S. residential land development and homebuilding, and we welcome the collaboration with Freehold Capital Management to expand on the vision and reputation of these desirable communities,” said Brendan Bosman, Senior Managing Director at Värde Partners.

About Freehold Capital Management

Freehold Capital Management (FCM) is an opportunity-focused investor and developer of real estate throughout the United States. It is headquartered in Boston, MA. Since its founding in 2013, FCM has focused on a broad range of housing, including residential mixed-use and master-planned developments, as well as concentrated rental communities. These ventures extend from FCM’s Freehold Communities^® and 360 Communities^® brands. Freehold Communities is one of the nation’s largest developers of award-winning, large-scale, mixed-use, and master-planned communities. And 360 Communities is a fast-growing provider of high-quality new homes for lease.

Freehold Capital Management has assets, investments, and offices all over the county, with over 7,000 acres of land, 26,000 units for sale, as well as multifamily units, and over 500,000 square feet of retail and office development. 360 Communities currently has approximately 2000 units of rental and multifamily housing either leased, in lease-up, or under development.

For more information, please visit www.Freeholdcm.com.

About Värde Partners

Värde Partners is a leading global alternative investment firm specializing in credit and credit-related assets. Founded in 1993, the firm has invested more than $95 billion across the credit quality and liquidity spectrum in both public and private markets. Värde currently manages $13 billion in assets with teams in North America, Europe, and Asia Pacific focused on Corporate & Traded Credit, Real Estate, and Financial Services & Diversified Private Credit.

Some of Värde’s investments in master-planned communities include Estrella in Goodyear, AZ; Estancia in Scottsdale, AZ; Daybreak in South Jordan, UT (SLC metro); Windsong Ranch in Prosper, TX (Dallas metro); Vistancia in Peoria, AZ; Verde River in Scottsdale, AZ; and Sunfield in Buda, TX (Austin metro).

For more information, please visit www.varde.com.