Crayhill Capital Management, a New York-based, minority-owned private credit manager focused on asset-based investments, closed a $100 million credit facility with Fort Amsterdam Capital, a New York-based, vertically-integrated real estate lender. The facility will be collateralized by both land and commercial real estate properties in the Northeast Corridor.
Fort Amsterdam Capital has deployed in excess of $200 million in debt investments across more than 40 transactions since launching in 2015. The firm focuses on high yield bridge loans collateralized by multifamily, mixed use, hospitality and other property types in top MSAs across the United States, with a focus on the Northeast region.
The facility, which has a two-year term, will primarily support the issuance of covered land loans ranging in size from $10 million to $50 million.
“We have incredible respect for David and the Fort Amsterdam team and are excited to provide them with this credit facility to enable the continued development of their business,” Sloan Sutta, managing director and head of structured real estate at Crayhill said. “This type of bespoke, flexible facility for a growing sponsor with a differentiated investing approach is exactly the type of situation where we are best positioned to be a value-added partner to a borrower. We are proud to support Fort Amsterdam’s continued success.”
“We are thrilled to be working with such a collaborative and thoughtful capital partner in Crayhill,” David Schwartz, managing partner of Fort Amsterdam Capital, said. “Our two firms have similar fundamental approaches to real estate credit investing and both see a compelling market opportunity in the current rising rate environment. We look forward to utilizing this capital to expand our business and accelerate our growth.”
