Northwind has secured a $300m (€258.4m) capital partnership from Apollo-backed ATLAS SP Partners for its latest US real estate debt strategy.
The Manhattan-based real estate private equity firm and debt fund manager said the partnership gives Northwind Debt Fund III (NDF III) access to a lower cost of capital, enhancing its ability to offer competitive loan terms to borrowers.
The arrangement is expected to “drive expanded origination volume and market share for NDF III as it continues to lend in the New York City region and other major gateway cities across the US predominantly on multifamily residential, for-sale condos, industrial, office and other major property types”, Northwind added.
Ran Eliasaf, founder and managing partner of Northwind, said: “This partnership is a direct reflection of our commitment to building the most competitive capital structure possible for NDF III. Bringing in an institutional partner of ATLAS’s calibre allows us to offer borrowers flexible and friendly financing solutions with high certainty of execution.
“In today’s market, that combination is rare, and we believe it positions NDF III to further execute on our business plan.”
Brendan Jordan, co-head of commercial real estate origination at ATLAS, said: “We are pleased to partner with Northwind and help facilitate their continued growth as they build a differentiated real estate credit platform.”
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