BOSTON–(COMMERCIAL THREAD) – Berkshire Residential Investments announced that it has successfully raised its largest debt fund to date with a definitive close for Berkshire Bridge Loan Investors II on April 30, 2021. The $ 1.47 billion fund includes close commitments of 60 institutional clients around the world and is made up of new and existing client relationships for the company.
âWe are delighted with the success of our direct lending platform and our partnership with Limekiln,â said David Olney, CEO of Berkshire. âThe company has established itself as a leading player in the multi-family debt arena, in large part due to our highly experienced team of debt professionals and our ability to leverage our vertically integrated platform. ”
The Fund supports the MF1 direct lending platform, which is a partnership between Berkshire and Limekiln Real Estate. MF1 provides financing for multi-family assets in the United States, including senior mortgages, mezzanine debt and preferred shares.
âDespite a tough environment in 2020, MF1 generated over $ 2.3 billion in loans and was the largest contributor of multi-family loans to CLOs last year. MF1’s portfolio performed very well in the turbulent conditions presented during the global pandemic and recorded no defaults. We used this momentum to successfully raise capital for our second fund in this series, exceeding our capital raising target, âsaid Jon Pfeil, Managing Director, Senior Portfolio Manager at Berkshire.
âThe launch of the second fund in this series demonstrates our confidence in the strategy and has enabled Berkshire to further expand our platform and reach a diverse set of global institutional investors. The Berkshire team are very excited about the new and existing relationships that have helped shape the fund and we look forward to executing it on their behalf, âsaid Michael Coffey, Managing Director, Head of Capital Markets.
About Berkshire Residential Investments
Berkshire Residential Investments is a vertically integrated residential real estate investment and property management firm with over 50 years of experience. Berkshire’s team of industry leaders have earned a reputation for being able to identify opportunities and manage them effectively in various economic environments, establishing a long-term history of strong performance based on investment strategies. thoughtful and cutting edge, as well as hands-on development and operational experience. . Berkshire, a registered investment advisor, is headquartered in Boston with offices in Atlanta, Dallas and San Francisco. As of December 31, 2020, Berkshire Residential Investments had approximately $ 11.5 billion in real estate assets under management. For more information on Berkshire, please visit www.berkshireresi.com.
About Limekiln Real Estate
Limekiln Real Estate is a multi-family real estate investor led by seasoned professionals who have built multiple platforms and executed multiple cycles. Limekiln is executing its multi-family direct loan strategy through the MF1 platform, a partnership with Berkshire. It executes its high yield multi-family securities strategy with other investors through Freddie Mac B-piece securitization control classes. Limekiln is also active in special real estate situations.