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Konnect RE Launches Second Private RE Debt Fund
Following the success of its initial fund, KNCT Lending, Chicago-based Konnect Real Estate has launched its second privately held real estate debt fund, KNCT Lending II. In common with its predecessor, the new fund will focus on short term, event-driven, time-sensitive transitional capital.
“We wanted to expand our platform to provide capital in an area where other lenders aren’t necessarily comfortable with the myriad of complexities that can come up in commercial real estate transactions, especially on loans less than $2 million,” said Konnect president Lee Kotler.
KNCT’s three most recent transactions feature a variety of owner/user single-tenant properties, along with a residential property. All are located in the greater Chicagoland area with local ownership.
The average deal size was around $500,000, and transactions were closed within a few weeks. Each transaction was specifically structured to meet the borrower’s business plans.
For comments, questions or concerns, please contact Paul Bubny
- ◦Financing
