BHI, the U.S Branch of Bank Hapoalim, B.M. and a full-service commercial bank, has provided a $100 million capital call line of credit to KRE Capital Management, a newly-launched $425 million credit platform with a lending capacity of more than $1 billion that’s focused on investing in residential real estate assets, specifically multi-family rental and for-sale condominium projects across the United States, with a geographic emphasis on the New York Tri-State area, Florida and Texas.
The financing will provide KRE Capital with additional liquidity and speed to deploy capital for target investments.
“We’re pleased to support KRE Capital as it launches its credit platform, backing an experienced team with a disciplined approach and a substantial deal pipeline,” Sal Demma, first vice president, international C&I at BHI, said. “This capital call facility from BHI gives the team the operational speed and liquidity to execute on a robust pipeline, and we look forward to supporting KRE Capital’s growth as a long-term banking partner.”
Jody Kriss, managing partner at KRE Capital, added, “Having a banking partner of BHI’s caliber alongside us as we launch KRE Capital is a real validation of the platform we’ve built. It allows us to deploy capital efficiently against a substantial pipeline while continuing to generate attractive, risk-adjusted returns for our investors.”
