DALLAS—Through the origination and acquisition of real estate debt, Revere Capital provides fund investors with capital preservation and risk-adjust yield. The firm has launched Revere Credit Opportunities Fund III LP, according to founder Clark Briner. The new $350-million fund is targeted to originate two-to-five year loans to real estate investors and developers for every category of commercial real estate except land, with loans expected to range from $3 million to $30 million.
Revere Capital's High Yield Fund (Fund 2) has deployed nearly $250 million in loans since its launch in 2013, predominantly as bridge and mezzanine debt under 18 months, ranging from $2 million to $20 million. The Dallas-based private equity lender's first fund (Fund 1) was a closed-end $50-million fund for short-term commercial real estate borrowers that opened in 2010 and closed in 2013 with all capital and profits fully returned to the investors.
“We created this third fund based on the future demand for mid-term debt in commercial real estate, and based on our past experience, there is a ready market of operators and sponsors for the type of debt and terms we offer,” Briner tells GlobeSt.com.
Recently completed transactions from Revere Capital's portfolio include a $15.75 million loan on an historic Los Angeles office and retail property, a $16.34 million multifamily portfolio in Northern California, a $12.7 million loan for a hotel acquisition in Tucson, AZ, a $12.6 million loan on retail and self-storage properties in Garland and Houston, TX, and an $11.5 million waterfront development in Bay Harbor Islands, FL.
The firm lends on acquisitions, refinance, note purchases, discounted payoffs and cash outs. Bridge loans are offered from $3 million to $30 million and medium-term notes are also available. Revere Capital's underwriting utilizes analysis and research with an emphasis on value to create a diversified portfolio for investors, especially in the middle market credit space. In addition to Dallas, it has offices in San Francisco, Atlanta and Darien, CT.
DALLAS—Through the origination and acquisition of real estate debt, Revere Capital provides fund investors with capital preservation and risk-adjust yield. The firm has launched Revere Credit Opportunities Fund III LP, according to founder Clark Briner. The new $350-million fund is targeted to originate two-to-five year loans to real estate investors and developers for every category of commercial real estate except land, with loans expected to range from $3 million to $30 million.
Revere Capital's High Yield Fund (Fund 2) has deployed nearly $250 million in loans since its launch in 2013, predominantly as bridge and mezzanine debt under 18 months, ranging from $2 million to $20 million. The Dallas-based private equity lender's first fund (Fund 1) was a closed-end $50-million fund for short-term commercial real estate borrowers that opened in 2010 and closed in 2013 with all capital and profits fully returned to the investors.
“We created this third fund based on the future demand for mid-term debt in commercial real estate, and based on our past experience, there is a ready market of operators and sponsors for the type of debt and terms we offer,” Briner tells GlobeSt.com.
Recently completed transactions from Revere Capital's portfolio include a $15.75 million loan on an historic Los Angeles office and retail property, a $16.34 million multifamily portfolio in Northern California, a $12.7 million loan for a hotel acquisition in Tucson, AZ, a $12.6 million loan on retail and self-storage properties in Garland and Houston, TX, and an $11.5 million waterfront development in Bay Harbor Islands, FL.
The firm lends on acquisitions, refinance, note purchases, discounted payoffs and cash outs. Bridge loans are offered from $3 million to $30 million and medium-term notes are also available. Revere Capital's underwriting utilizes analysis and research with an emphasis on value to create a diversified portfolio for investors, especially in the middle market credit space. In addition to Dallas, it has offices in San Francisco, Atlanta and Darien, CT.
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Lisa Brown
Lisa Brown is an editor for the south and west regions of GlobeSt.com. She has 25-plus years of real estate experience, with a regional PR role at Grubb & Ellis and a national communications position at MMI. Brown also spent 10 years as executive director at NAIOP San Francisco Bay Area chapter, where she led the organization to achieving its first national award honors and recognition on Capitol Hill. She has written extensively on commercial real estate topics and edited numerous pieces on the subject.
