Värde Partners Finances $747 Million of Commercial Real Estate Loans in the First Half of 2022July 11, 2022
Firm Ramps Up Focus on Multifamily Sector Lending
MINNEAPOLIS and NEW YORK – Värde Partners, a leading global alternative investment firm, today announced it closed $747 million in U.S. commercial real estate (CRE) loans across 16 transactions in the first half of 2022. The transactions span multifamily, hospitality, office, and industrial assets throughout the U.S.
“Despite headwinds created by rising rates, market fundamentals for CRE remain strong. This is especially true in the multifamily space where we see significant, sustained rental demand, fueled by U.S. population growth and the undersupply of housing. We continue to lend on well-located assets with strong sponsorship,” said Jim Dunbar, Partner and Head of Real Estate Lending at Värde.
Värde manages a $4 billion portfolio of first mortgages across CRE sectors. The firm’s multifamily approach has recently focused on lending in high-growth sunbelt markets and infill locations around larger cities.
“Across asset types, borrowers are increasingly relying on non-bank lenders like Värde for bridge and transitional loans to achieve their business plans. We believe the types of flexible financing solutions that Värde provides will continue to play a key role for the CRE industry as asset owners navigate a dynamic market and reposition assets coming out of the pandemic,” Jim added.
Loans Closed in the First Half of 2022
- $80 million for the refinance of a hotel property in Fort Lauderdale, FL.
- $72 million for the acquisition of a multifamily property in Tampa, FL.
- $64 million for the refinance of an office property in Raleigh, NC.
- $57 million for the acquisition of a multifamily property in San Antonio, TX.
- $55 million for the acquisition of a multifamily property in Torrance, CA.
- $55 million for the acquisition of a multifamily property in Tampa Bay, FL.
- $50 million for the acquisition of a hotel property in Rancho Santa Fe, CA.
- $45 million for the construction of a multifamily portfolio in Irvine, CA.
- $44 million for the acquisition of a multifamily property in Fountain Hills, AZ.
- $43 million for the acquisition of a multifamily property in Kingwood, TX.
- $32 million for the acquisition of a hotel property in Miami Beach, FL.
- $31 million for the acquisition of a multifamily property in Tucson, AZ.
- $31 million for the acquisition of a hotel portfolio in Ann Arbor, MI.
- $30 million for the acquisition of an industrial portfolio in Spartanburg, SC.
- $30 million for the acquisition of a hotel property in Miami, FL.
- $28 million for the acquisition of a multifamily property in Bellevue, WA.
Värde’s CRE Lending Program
Värde has 28 years of experience investing in real estate and credit markets and has originated $6 billion in CRE loans since 2017. The firm has a dedicated team of experienced origination, asset management and capital markets professionals.
Through its CRE lending program, Värde is a non-recourse, balance sheet lender financing all major asset classes, plus mixed-use and self-storage. Värde focuses on providing flexible capital and certainty of execution to meet the needs of experienced real estate investors.
The firm has a clean securitization track record, having experienced zero losses to date, no overcollateralization test breaches, and six of its ten securitizations successfully paid off.
About Värde Partners
Värde Partners is a leading global alternative investment firm with roots in credit and distressed. Founded in 1993, the firm has invested $90 billion since inception and manages over $13 billion on behalf of a global investor base. The firm’s investments span corporate and traded credit, real estate and mortgages, private equity, and direct lending. Värde has offices in Minneapolis, New York, London, Singapore and other cities in Asia and Europe. For more information, please visit www.varde.com.