Search
 

RXR, Hudson Realty Capital Form Lending JV

NEW YORK CITY-The two New York-based firms will provide discretionary capital that traditional banks may not be able to underwrite, Hudson’s Spencer Garfield tells GlobeSt.com’s Jacqueline Hlavenka.

By Jacqueline Hlavenka | Updated on March 16, 2012

NEW YORK CITY-Partnering up to originate and purchase commercial real estate debt assets, fund manager Hudson Realty Capital LLC and owner/manager RXR Realty LLC are working together on a new lending platform. The two companies will focus on first-mortgage bridge loans, as well as B notes, mezzanine and preferred equity opportunities in Manhattan, the city’s outer-boroughs, southern Connecticut and Westchester County.

Spencer Garfield, managing director at Hudson, tells GlobeSt.com that joint venture will generally target loans or investments in the amounts between $10 million and $50 million throughout the capital stack — an area that both companies believe is a significantly underserved segment of the market, particularly for value-add investments, as well as recapitalizations.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.