CATEGORIES | Debt | Equity | Financial Advisory | Investments | Multifamily | Student Housing
FIDES Capital Partners, LLC ("FIDES") announced today that it has been engaged by a national buyer of distressed bank loans to raise a $50 million, revolving, senior-warehouse facility to finance the acquisition of small-balance commercial real estate loans and REO. FIDES' client, which recently closed on its third fund totaling $75 million, has purchased over $150 million of defaulted loans since 2009. The client has experienced in excess of 50% unlevered returns. FIDES will approach an expansive list of institutional lenders, many of which view such lending opportunities as having attractive risk-adjusted returns.
"Five years into the correction, many institutional lenders now better understand the NPL market and are chasing yield by lending against distressed debt pools. Having over 20 years of experience originating facilities across multiple asset-aggregation strategies, the principals of FIDES are uniquely qualified to work with such lenders to craft facilities that are not only attractive to the lenders, but also support the strategies of our opportunisitic/distressed-debt fund clients," said Bill Mitchell of FIDES.