New York City-based 10X Capital, an alternative asset management firm, has debuted a Residential Real Estate Income Platform that will be marketed and managed under the firm’s Tower1 brand.
According to a statement from the company, 10X Capital’s new Tower1 platform will “give investors exposure to a diverse pool of residential real estate loans and rental properties across the country. The platform will focus on 3 core areas: Residential Transitional Loans (RTLs), Non-QM Residential Rental Loans (including DSCR), and Single-Family Rental Properties (SFR) it acquires and manages.”
Ray Sturm has joined the firm to lead this endeavor, Strum was previously CEO of AlphaFlow, which he founded in 2015 and which acquired and managed over $1.5 billion of residential business purpose assets for a number of brand name institutional and sovereign investors. Before AlphaFlow, in 2013 co-founded RealtyShares. He began his career on Wall Street as an investment banker at Bear Stearns and Lazard and earned a JD/MBA from the University of Chicago.
“In the US, the combination of aging housing stock, the underbuilding of new homes and the growth of consumer demand for the single-family residential lifestyle has created an ideal setup for attractive investment opportunities in income-producing residential real estate in the near term, especially for data-driven organizations like our own,” said 10X Capital founder and CEO Hans Thomas. “With his proven track record of architecting innovative investment strategies and developing cutting edge asset management and capital markets technology, we are excited to have Ray join us and lead Tower1’s residential real estate rental income strategy.”
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