Fairbridge Asset Management Announces Up to $100 Million Loan Agreement with Oaktree
NEW YORK, NEW YORK, USA, April 28, 2022 /EINPresswire.com/ — Fairbridge Asset Management announces a loan agreement of up to $100 million with Oaktree.
The investment strengthens Fairbridge’s position as a leader in bridge financing.
Fairbridge Asset Management LLC (“Fairbridge” or the “Company”), a private direct portfolio lender focused on originating, investing and servicing commercial real estate loans in major markets in the United States, today announced entered into a $50 million loan agreement with an option for two additional $25 million tranches with funds managed by Oaktree Capital Management, LP (“Oaktree”), a leading global investment firm. Oaktree will also receive warrants to purchase a minority stake in Fairbridge. The Company expects the proceeds from the financing to support the expansion of Fairbridge’s bridge lending platform.
Fairbridge provides fast, flexible and creative bridge financing solutions to real estate professionals looking to capitalize on opportunistic real estate transactions. The Company’s institutional platform can offer mortgages with a principal value of up to $50 million, with a particular focus on borrowers looking for $10 million or less. Fairbridge’s management team believes that the inefficiency and fragmentation of this market segment allows for better returns and better structuring opportunities.
Brian Walter, co-founder and managing partner of Fairbridge, said: “The bridging loan market is complicated and disjointed. We help borrowers by providing integrated and creative solutions that unlock value across the entire capital structure. This investment from Oaktree will support our pursuit of a larger share of the fast-growing bridge loan market.
John Lettera, co-founder and partner of Fairbridge, added: “Oaktree is an experienced investor with significant resources and expertise in providing creative financing solutions. This commitment will allow us to continue executing our strong pipeline of deals and organic growth initiatives. We are very pleased to welcome Oaktree as a financial partner to accelerate our next stage of growth.
Raghav Khanna, Managing Director and Co-Portfolio Manager, and Matthew Stewart, Senior Vice President of Oaktree, said in a joint statement: “We are delighted to partner with Fairbridge as part of its growth strategy of providing innovative bridging loan solutions to commercial businesses, real estate borrowers.Fairbridge has a strong and experienced management team and an intriguing history.We believe the company is well positioned to be a leader in this rapidly growing segment of the market. real estate. “
Hunton Andrews Kurth LLP served as legal counsel to Fairbridge. Paul Hastings LLP served as legal counsel to Oaktree.
About Fairbridge Asset Management
Fairbridge is a vertically integrated real estate private equity firm specializing in real estate lending strategies. Fairbridge seeks leveraged investments by originating senior secured loans, mezzanine loans and preferred equity investments for the construction, acquisition and refinancing of commercial real estate, and by acquiring non-performing loans and investments in preferred shares. Fairbridge is a portfolio lender and manages several investment vehicles. For more information, please visit Fairbridge’s website at http://www.fairbridgellc.com.
About Oaktree
Oaktree is a leader among global investment managers specializing in alternative investments, with $158 billion in assets under management as of September 30, 2021. The firm emphasizes an opportunistic, value-driven, risk-controlled approach for investments in credit, private equity, real estate assets and listed shares. The company has more than 1,000 employees and offices in 19 cities around the world. For more information, please visit Oaktree’s website at http://www.oaktreecapital.com.
Steve Wissack
Fairbridge Asset Management
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