New York & Tri-State + Downtown New York + Finance | July 30, 2021

ACRE Closes Direct Lending Fund at North of $325M

Asia Capital Real Estate (ACRE), a global real estate private equity firm that manages capital for institutional and family office investors has closed its fourth fund, ACRE Credit I. Headquartered in Midtown Manhattan, ACRE launched the fundraising process in in the first quarter of 2020 and ultimately raised more than $325 million of commitments, well over its $300-million target.

ACRE Credit I provides first mortgage bridge loans, mezzanine loans and preferred equity to multifamily owner-operators secured by institutional grade real estate across the U.S. These loans are meant to support the acquisition, lease-up, redevelopment and recapitalization of multifamily assets in growing secondary markets.

“The success of our first direct lending fund comes as a result of ACRE’s widely recognized ability to understand the market and identify opportunities to deploy capital into credit investments secured by strong, incoming-producing multifamily assets,” said ACRE founding partner Les Menkes.

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Inside The Story

ACRE’s Menkes

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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