Pembrook hits $1 billion CRE debt volume

The private, mid-market bridge lending business escapes much of the regulations that have impacted the banks and CMBS this year, opening up opportunities for Pembrook to do more transactions other lenders won’t, as Real Estate Capital reported previously.

Pembrook Capital Management announced this week that it has originated or participated in 86 investments totaling over $1 billion since its founding in 2006.

The company reached the milestone following strong first half of 2016, according to Stuart Boesky, who founded the firm to manage commercial real estate private equity funds focused on debt strategies.

Stuart Boesky, Pembrook
Stuart Boesky, Pembrook

“The extensive industry relationships we have built brought a substantial number of deals to us over the last nine years, and our ability to move quickly on these opportunities has given us a competitive advantage,” said Boesky, a 35-year industry veteran and company CEO, in prepared remarks.

“We are well positioned to continue our growth and fully expect the new business pipeline we are building to remain robust throughout the remainder of 2016 and beyond.”

Regulations that have impacted the banks and CMBS this year have opened up opportunities for Pembrook, as Boesky and other company executives previously told Real Estate Capital.

Pembrook has closed a number of significant transactions within the last year, including a $16.6 million loan on the Mark Twain Hotel in Chicago; $25 million in loans on two properties in Washington, DC; a $25.7 million bridge loan on a Hyatt Place hotel development in Manhattan; a $30.4 million bridge loan on the Madison Oaks Apartments complex in a submarket of Tampa, Florida; and a $32 million first mortgage loan on student housing in Los Angeles.

Pembrook originates commercial real estate debt including first mortgages, mezzanine, bridge loans, note financings, and preferred equity across the US, investing in multifamily, office, retail and industrial.