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Peakhill Capital, Declaration Partners Form JV Focused on Equity Investments
Peakhill Capital, a commercial real estate lender, has announced a strategic joint venture with Declaration Partners, an investment firm, to provide “gap capital” to owners of residential rental properties facing loan paydowns.
The new JV seeks to fund preferred equity investments ranging from $5 million to $25 million in multifamily, student housing, and build-for-rent (BFR) projects, supporting asset owners by providing ‘gap capital’ behind agency, LifeCo, and CMBS loans.
Peakhill Capital aims to reach $300 million in production in the next 12 months. “Many owners of multifamily properties are finding their lenders are requiring loan paydowns,” said Todd Rich, Co-founder of Declaration Partners and head of the real estate team. “We believe that Peakhill’s sourcing & servicing abilities coupled with Declaration’s capital and expertise will provide a competitive advantage.”
“Partnering with Declaration Partners perfectly complements Peakhill, and will help us extend our reach in the multifamily high-yield segment,” said Sandor Biderman, Managing Director of Peakhill Capital U.S.
