New Veleta Capital, Oaktree JV Targets CRE Lending
Oaktree also acquired a minority stake in Veleta Capital.
Veleta Capital and funds managed by Oaktree Capital Management have launched a strategic joint venture called Veleta Capital Partners (VCP), creating an institutional lending platform for multifamily and commercial real estate assets. Oaktree has also acquired a minority stake in Veleta Capital.
Veleta Capital Partners, a real estate lending platform headquartered in Los Angeles, is targeting 12- to 36-month senior secured transition loans for multifamily and commercial real estate assets of up to $20 million. It provides short-term, senior secured loans, predominantly in the Western United States.
The firm will initially be focused on Tier I and Tier II submarkets, including Southern California, Arizona, Colorado, Nevada, Oregon, Texas, Utah, and Washington and it will evaluate other opportunistic transactions nationwide.
Oaktree Specializes in Alternative Investments
The management team has relationships across multifamily and commercial real estate lending and ancillary services around it, including underwriting, construction and servicing.
Oaktree specializes in alternative investments, including credit, private equity, real assets and listed equities.
VCP will focus on quality markets, assets and sponsors, combining Oaktree’s strength in global real estate and credit investment with Veleta Capital’s platform and team of real estate credit and investment professionals.
The joint venture also will focus on alternative commercial assets, including self-storage, cold storage, medical office properties, data centers, industrial, and warehouse properties.
Veleta Capital Partners provides short-term, senior secured loans on multifamily and commercial real assets, predominantly in the Western United States.