NEW YORK CITY-Real estate fund manager Hudson Realty Capital LLC reigns champion in the CRE world, winning the Federal Deposit Insurance Corporation’s Small Investor Program’s RADC structured-sale, announced late Thursday. In partnership with the FDIC, the group acquired a $139-million Colorado portfolio of 97 acquisition, development and construction (ADC) loans, part of a joint acquisition with Stamford, CT-based Soundview Real Estate Partners and Denver-based JCR Capital Investment Corp.
Renee Lewis, managing director of portfolio investments at Hudson Realty Capital, tells GlobeSt.com that the Colorado portfolio is Hudson’s second FDIC-structured sale acquisition. “The whole portfolio investment platform is one that we rolled out six or eight months ago and we are excited about, so we are pleased to pick up another large portfolio,” Lewis says. Its partner, Soundview, also closed on FDIC’s southeastern pool of 109 in December 2010, she adds. “We are happy the FDIC has done the Small Investor Program and we are also happy that we were their first minority-owned enterprise business to win one.”
Handling the asset management in the transaction, Hudson will work to resolve the residential and commercial property ADC loans over the next several years. The assets in the portfolio include a variety of properties ranging from mixed-use structures, subdivisions of up to 80 lots, sites over several hundred acres and multifamily buildings.
However, the transaction was not complete without the Colorado market expertise from JCR. “They bring local market knowledge and color to our joint venture,” Lewis says.
Hudson Realty Capital has worked out $3.5 billion in transactions since the formation of its initial two funds in 2003, and currently has more than $2.5 billion in assets under management.
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