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Dekel Capital Launches Credit Platform with Focus on Multifamily
Dekel Capital has launched a new credit platform offering multifamily owners and investors mezzanine and preferred equity capital between $2 million and $10 million for the acquisition and refinancing of assets nationwide. The new capital strategy adds to the Los Angeles-based real estate merchant bank’s suite of services.
“The dislocation in the capital markets has placed a severe burden on today’s real estate owners, especially those who are exiting construction loans or facing maturing senior debt and are not in a position to sell,” said Dekel founder and managing principal Shlomi Ronen.
He continued, “With lower LTVs, increasing operating costs, and pressures of covenant compliance, lenders are requiring owners to come up with more equity or risk losing financing or worse their asset. Preferred equity fills the gap in the capital stack and allows sponsors to use what equity they have more wisely.”
Dekel plans to deploy $100 million in preferred equity over the next 12 months. While focusing on multifamily, Dekel will consider other commercial assets on a selected basis.
- ◦Financing
