The firm originated $148 million in preferred equity and bridge loan financing during the quarter with momentum carrying into Q2
Lake Park, Fla. (May 5, 2021) –Electra Capital, a boutique lender specializing in capital solutions for the multifamily industry, announces it has closed seven transactions in the first quarter, four bridge loans totaling $125 million and three preferred equity investments totaling $23 million. The properties encompassed 1,770 units and represented $245 million of overall value. The significant Q1 activity highlights the surging multifamily market that illustrates the continued need for debt and equity and creative financing structures.
“Investors continue to find attractive opportunities in the multifamily space while staying cognizant of pricing which has increased across the sector” said Samuel J. Greenblatt, CEO of Electra Capital. “Electra can structure creatively and fund quickly while maximizing proceeds, helping make deals work for multifamily investors. Competition across the Sunbelt is high, but we can provide the financing necessary for investors to lock in deals.”
Electra continues to focus on partnering with high quality multifamily operators across the Sunbelt. The transactions represent solid workforce housing across key investment markets for Electra including Arizona, Florida and Texas.
The properties closed by Electra Capital include:
Electra Capital
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