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Slate Asset Management Reaches Final Close on First Debt-Focused Vehicle
Slate Asset Management, with U.S. headquarters in Chicago, has reached the final close of Slate Real Estate Capital I (SREC I). SREC I also completed the first closing of Slate’s previously announced $2.33-billion acquisition of Annaly Capital Management’s commercial real estate business.
SREC I is Slate’s inaugural debt focused investment vehicle. The fund was oversubscribed with third-party capital commitments, including a preferred equity investment from Goldman Sachs Asset Management’s Vintage and Vintage Real Estate Partners Funds.
“With the initial close of this transaction, our platform and team are now set up to capitalize on compelling and creative investment opportunities across the entire capital stack,” said Blair Welch, co-founding partner of Slate.
The acquisition of the Annaly business will further expand Slate’s investment capabilities, enabling the firm to execute bridge and transitional lending, acquisitions of existing loans, investments in debt securities and flexible liquidity solutions.
Pictured: Slate U.S. headquarters at 20 S. Clark St. in Chicago.
- ◦Sale/Acquisition
