Commercial bank BHI issued a $40 million capital call line facility to Northwind Debt Fund II, a closed ended commercial real estate debt fund managed by Northwind Group, a real estate private equity firm that has transacted on more than $4 billion worth of debt and equity investments in residential, commercial, senior living and healthcare properties.
“While amassing a considerable portfolio of assets across residential, commercial, senior living and healthcare properties, Northwind Group has consistently demonstrated disciplined balance sheet management that generates strong risk-adjusted returns,” Gil Karni, CEO of BHI, said. “We’re thrilled to further our partnership and provide Northwind’s debt fund with additional capacity to execute upon ever-present opportunities in the debt market.”
Northwind Group was founded in 2008 by Ran Eliasaf and is actively investing in multiple strategies through close-ended funds, SMAs, private REITs and SPEs. In 2017, Northwind evolved into a debt fund manager that focuses on whole loan bridge lending secured by commercial real estate via Northwind Debt Funds I and II, originating $1.6 billion in loans secured by 45 properties. In addition, Northwind provides bridge to HUD loans secured by income producing portfolios of skilled nursing and senior living properties via Northwind Healthcare Debt Funds I and II, with current collateral portfolio of more than 170 properties totaling more than 19,000 beds/units across 19 states.
“Our credit strategy has grown tremendously over the last seven years as we have become one of the more active lenders in our space, and this line will help us further streamline operations as our funds near full deployment,” Eliasaf said. “We prioritize honesty, transparency and integrity in all phases of our operations and are proud to work alongside a banking partner like BHI that upholds those principles and partners with us to help us continually grow and scale our business.”
