Regent Properties, a Dallas-based vertically integrated real estate investment management and development firm, has launched a credit platform for the commercial real estate sector.
The new $500 million platform will target high-quality sponsors, borrowers, and assets primarily located in major Sun Belt markets. The credit platform will execute on senior secured debt, mezzanine debt, and preferred equity investments primarily secured by residential, office, and retail properties. Transaction profiles will include a combination of acquisition financing, refinancing, and structured rescue capital; in select cases, the firm will also finance construction, renovation and leasing efforts providing sponsors with an opportunity to unlock avenues for growth.
Patrick Devitt and Alan de Castro, who are both executive vice presidents on Regent’s investment team) will lead the strategy, including origination, underwriting, due diligence, and execution – Devitt is based in Los Angeles and will oversee originations across Regent’s Western Region (comprised of West Coast and Mountain West markets) while Dallas-based de Castro will oversee originations across Regent’s Eastern Region, including Texas.
“This move into credit is a natural extension of Regent’s commercial real estate investment and development strategies,” said Eric Fleiss, CEO of Regent Properties. “We understand these assets and our target markets intimately and have already established what we believe is a robust pipeline of opportunities given our existing and extensive network and reputation in the industry. We expect our first several credit transactions to close over the next several quarters.”