Daily News: September 9, 2014

Related Fund Management Closes on Two Debt Investments

Related Companies announced it closed on two debt investments in New York City and Vail, Colorado as part of Related Fund Management’s credit platform.

Related Fund Management also recently originated a $90 million construction loan together with an active, Midwest-based bank for the ground up development of an 80-unit luxury condominium project in Vail, CO. When completed, the project will be the first newly constructed condominium project in Vail in more than seven years.

Related Fund Management, along with its partners, originated a $60 million bridge loan to refinance and fund pre-development for a planned approximately 400-key hotel in Manhattan’s North Chelsea district near Hudson Yards. The sponsor has a well-established track record for developing and operating branded hotel properties in the New York City market.

Brian Sedrish, a managing director of Related Fund Management and portfolio manager for the firm’s credit platform, said, “Both of these transactions represent the distinct transitional opportunities that Related’s credit platform was established to capitalize on. We will continue to look for investments that exploit the significant financing gaps in the residential and commercial real estate market nationwide and provide creative financial solutions to sponsors.”