CarVal and Gryphon Establish US Multi-Family Home Loan Company | New

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Gryphon Real Estate Capital Partners and CarVal Investors have created a US $ 1 billion (€ 848.7 million) multi-family home loan company.

The Gryphon-CarVal multi-family loan program already has more than $ 150 million in multi-family loans either closed or signed term sheet, with a plan to roll out $ 1 billion or more over the two years. next few years, the companies said.

The company – formed to create senior multi-family bridging loans in the primary and secondary markets – will target loans ranging from $ 20 million to $ 75 million with competitive market prices.

Loan service and asset management will be retained by the joint venture, the companies said.

Gryphon and CarVal will target sponsors focused on value-added or rental strategies.

Seth Cohen, Director of CarVal Investors responsible for global loan portfolio investment management, said: “We believe the time has come to enter the multi-family bridging market. Our partnership with Gryphon is rooted in our shared thesis that there is a long-term need for middle-income housing, especially in growing US markets.

Paul Mullaney, Managing Director of North American Real Estate at CarVal Investors, said: “Gryphon has built a data-driven institutional platform with extensive expertise in multi-family lending, which fits well with the business strategy. investment by CarVal.

Angelo LoBosco, Managing Partner at Gryphon Real Estate Capital Partners, said: “We are delighted to partner with CarVal as we launch this well-capitalized and synergistic business. We look forward to developing the Gryphon-CarVal platform by successfully executing our investment strategy. “

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