3650 REIT and Silverfern To Collaborate on US CRE Private Debt
3650 REIT ("3650 REIT") and The Silverfern Group ("Silverfern") today announced a collaboration for bridge and event-driven lending secured by U.S. commercial real estate ("CRE") to be marketed as the Silver3TG Investment Program ("Silver3TG").
Silver3TG's bridge and event-driven lending strategy originates U.S. CRE lending in the range of $70 million to $200+ million per transaction related to ground-up new construction, renovations, redevelopments, repositionings, and recapitalization of existing real estate properties, where traditional capital is unavailable or not capable of fully satisfying the sponsor's needs, without employing external leverage. Targeting real estate assets that are in transition and without the requirement of a syndication process, the Silver3TG CRE lending platform delivers capital for borrowers with speed and certainty.
The Silver3TG collaboration follows the August 21, 2018 announcement by US pension investor CalSTRS of an initial $200 million commitment with an accordion feature for a potential total commitment of $500 million to 3650 REIT dedicated to 3650 REIT's bridge and event-driven real estate private debt strategy.
"3650 REIT was founded on the philosophy of being a relationship lender. We are committed to providing real estate owners with more than just capital," said 3650 REIT founder Jonathan Roth. "The Silver3TG collaboration with Silverfern allows both of our firms – and our investors – to capitalize immediately on current U.S. CRE market conditions and to be prepared for any potential market correction."
"We have worked closely with the founders of 3650 REIT for several years," said Silverfern founder Reeta Holmes. "3650 REIT brings deep real estate lending expertise across the U.S. commercial real estate debt market. With six U.S. offices and a combined team of over 35 experienced real estate professionals, the Silver3TG collaboration is well positioned for meeting our borrower's private debt needs locally in the U.S."
3650 ("Thirty-Six Fifty") REIT is a fully integrated, national CRE investment and services firm headquartered in Miami with offices in New York, Chicago, Los Angeles and Newport Beach. 3650 REIT and its related companies own or manage over two million square feet of commercial real estate across the United States. 3650 stands for the firm's commitment to borrowers and equity partners: 3,650 days to service and asset manage loans of up to ten years with the goal of helping borrowers and equity partners maximize cash flow and grow value in an ever evolving CRE landscape. The firm was co-founded by Jonathan Roth, Toby Cobb and Justin Kennedy. For more information visit: www.3650REIT.com
Silverfern is amongst the few truly global middle-market, multi-asset class, investment management firms in the world today. Silverfern invests on behalf of both institutional investors and a global network of more than 65 of the world's largest and most sophisticated multi-billion-dollar single family offices. Through its offices in New York, Amsterdam, Frankfurt and Sydney, Silverfern makes direct investments in global middle market Private Equity, U.S. Commercial Real Estate Private Debt, Direct Real Estate, and Corporate Private Debt globally. Silverfern's investment strategy seeks to mitigate systemic risk in its portfolio by pursuing attractive risk-adjusted returns on a global basis, while at the same time seeking to manage local/market risk through its strategy to partner with qualified, local, investment partners on each of its investments. Additional information is available at www.silfern.com