Scale Lending, the debt financing arm of Slate Property Group, announced a partnership with Harel Finance that will center on construction and bridge loans for multifamily and condominium projects.
Scale directly originates senior secured whole loans, focusing on local owner-operator borrowers with developments in the New York City Metro area, Florida and select high-growth transit-oriented markets on the East Coast. Harel Finance is the investment house of Harel Group, one of the largest insurance and finance groups in Israel. The Harel Finance teaming is Scale’s third strategic lending partnership.
“We’re excited to expand our capital relationships by bringing on Harel Finance, an institutional partner that shares our vision and recognizes the opportunities available,” said Martin Nussbaum, co-founder and principal at Slate Property Group. “With an increased level of dislocation in the market, multifamily developers are starved for capital. That’s where Scale can help – with our cross-functional business lines, we’re able to speak the same language as our borrowers and our institutional partners as we catalyze success for both.”
“SCALE offers unique access via its real estate operating platform, with the ability to originate attractive opportunities in the multifamily space – that’s a compelling opportunity,” added Neta David, CEO at Harel Finance Alternative.
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