Maverick Real Estate Partners LLC (“Maverick”), a New York City-based investment manager focused on distressed debt secured by commercial real estate, has closed Maverick Lien Fund VII LP with commitments of $232.4 million from pension funds, endowments, foundations, and family offices.
The fund will invest in distressed real estate credit opportunities within New York City. This is Maverick’s seventh flagship fund focused on this core strategy.
“There is $520 billion of commercial real estate debt in New York City, and we estimate that over 20% of it is sub or non-performing,” said Ted Martell, co-founder and managing partner of Maverick. “The immense opportunity set gives us conviction that our disciplined approach will lead to significant outperformance.”
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