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Smith Hill, ECI, Intervest Launch Multifamily Lending Platform
Smith Hill Capital, ECI Group and InterVest said Monday they had launched a $250-million private lending platform for multifamily owners. These solutions will include first mortgages, mezzanine loans and preferred equity investments for refinancing, new construction and acquisitions. Target loan amounts are expected to range between $15 million and $100 million.
Peter Rotchford, Brett Rosenberg and Clayton Ross of JLL Capital Markets advised ECI and Smith Hill on arranging the lending platform. The platform will initially target deals in the Southeast U.S. and Texas but, as the strategy grows, expand to additional regions within the U.S.
“ECI is excited to partner with Smith Hill and InterVest to provide institutional quality multifamily owners and operators with critical funds,” said ECI CEO Seth Greenberg., “This platform broadens ECI’s capabilities, allowing us to own, develop, manage and provide tailored financial solutions in the multifamily space. We are prepared to move quickly to put our debt platform to work and have already begun to target deals.”
- ◦Financing
