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Slate Asset Management Reaches Final Close on First Debt-Focused Vehicle

Slate Asset Management, with U.S. headquarters in Chicago, has reached the final close of Slate Real Estate Capital I (SREC I). SREC I also completed the first closing of Slate’s previously announced $2.33-billion acquisition of Annaly Capital Management’s commercial real estate business. 

SREC I is Slate’s inaugural debt focused investment vehicle. The fund was oversubscribed with third-party capital commitments, including a preferred equity investment from Goldman Sachs Asset Management’s Vintage and Vintage Real Estate Partners Funds. 

“With the initial close of this transaction, our platform and team are now set up to capitalize on compelling and creative investment opportunities across the entire capital stack,” said Blair Welch, co-founding partner of Slate. 

The acquisition of the Annaly business will further expand Slate’s investment capabilities, enabling the firm to execute bridge and transitional lending, acquisitions of existing loans, investments in debt securities and flexible liquidity solutions.

Pictured: Slate U.S. headquarters at 20 S. Clark St. in Chicago.


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Slate Asset Management

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).

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