A trio of real estate organizations – Smith Hill Capital, ECI Group and InterVest – have teamed up to create a $250 million private lending platform that will provide financing on first mortgages, mezzanine loans, and preferred equity investments to multifamily property owners for refinancing, new construction, and acquisitions.
The target loan amounts for the new endeavor are expected to range between $15 million and $100 million. The initial focus will be in the Southeast and Texas, with plans to expand into other markets.
“We believe that there is a large opportunity to serve as a capital solutions provider in the multifamily space and look forward to leveraging the collective expertise of our platform to provide innovative financing solutions,” said Smith Hill Capital Managing Principal Brendan McCormick.
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