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SKW, Bain Capital Launch Second JV Targeting Debt

SKW Funding and Bain Capital Credit LP have formed their second joint venture, which will target special situation loan originations along with sub- and non-performing note acquisitions. The JV, which will operate nationally with a focus on New York City, will target an additional $1.3 billion of acquisitions and loan originations over the next several years.

Concurrently, the JV announced its first acquisition, a $42-million note purchase secured by an office portfolio in Austin. This was followed shortly thereafter by a $410-million loan origination secured by 111 Wall St. in Lower Manhattan. As part of the origination, SKW and Bain Capital provided mezzanine debt financing.

The new platform follows the successful origination of nine deals by the first JV. “Given the current dislocations in the market, we anticipate that we will continue to find very attractive investment opportunities in the debt space,” said SKW co-founders Daniel Wrublin and Ayush Kapahi.

Pictured: 111 Wall St.


Inside The Story

SKW FundingBain Capital Credit

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 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).