On Monday, Smith Hill Capital, ECI Group, and InterVest announced the launch of a $250 million private lending platform for multifamily property owners. This platform will offer various financing options such as first mortgages, mezzanine loans, and preferred equity investments for refinancing, new construction projects, and acquisitions. The target loan amounts will range from $15 million to $100 million.
JLL Capital Markets’ Peter Rotchford,Brett Rosenberg,and Clayton Ross advised ECI and Smith Hill in arranging this lending platform. Initially focused on deals in the Southeast U.S. and Texas,the strategy is expected to expand to other regions within the country as it grows.
ECI CEO Seth Greenberg stated that they are thrilled to partner with Smith Hilland InterVest in providing institutional quality multifamily owners with necessary funds through this platform.” He also added that this expands their capabilities at ECI by allowing them to own,d evelop,and manage properties while offering tailored financial solutions specifically designed for the multifamily sector.They are readyto act quicklyin utilizing their debtplatformand have already begun targeting potential deals.
