Northwind Group launches $220M debt fund focused on NYC

Platform will invest in special situations

TRD New York /
May.May 12, 2020 07:00 AM
Northwind's Ran Eliasaf

Northwind’s Ran Eliasaf

Ran Eliasaf’s Northwind Group is launching a big debt fund targeting special situation loans in the New York City area.

The $220 million fund will make loans for acquisitions and construction, as well as bridge and condo-inventory loans, Northwind managing partner Ran Eliasaf told The Real Deal. The fund will also provide rescue capital to sponsors and finance distressed assets, non-performing loans and other special situations.

“We’re going to focus on the middle market, around $15 [million] to $20 million up to $50 [million] or $60 million,” he said.

The fund is starting with a $70 million anchor investment from what Eliasaf described as a large Israeli pension fund.

Northwind also announced the company hired Gabriel Hamani to manage the fund. He had been CEO of the U.S. arm of Bank Hapoalim, Israel’s largest bank, which Northwind has worked with before.

Eliasaf launched Northwind in 2008. The company is an investor alongside the Gural family’s GFP Real Estate in the redevelopment of the 7 Hanover Square office tower in the Financial District.

Contact Rich Bockmann at [email protected] or 908-415-5229


Related Articles

arrow_forward_ios
Photo illustration of Sen. Brian Kavanagh (Credit: Kavanagh by Albin Lohr-Jones/Pacific Press/LightRocket, Getty Images, iStock)

Lawmakers skip #CancelRent in favor of more modest bills

Lawmakers skip #CancelRent in favor of more modest bills
The process for challenging property assessments is so antiquated, officials won’t do Zoom meetings. (iStock)

“A recipe for disaster”: Fighting property taxes in a pandemic

“A recipe for disaster”: Fighting property taxes in a pandemic
Andrew Florance, CEO of CoStar (Photo by Jeffrey MacMillan for the Washington Post)

EXCLUSIVE: CoStar’s Andy Florance on buying Ten-X, the future of office buildings and why brokers don’t need discounts

EXCLUSIVE: CoStar’s Andy Florance on buying Ten-X, the future of office buildings and why brokers don’t need discounts
An institutional investor’s sale of a 7 percent stake in an exchange-traded real estate fund reveals deep concerns about the sector. (Credit: iStock)

Mystery investor dumps big stake in real estate fund

Mystery investor dumps big stake in real estate fund
Thor Equities’ big bet on Fulton Market is paying off

Thor Equities’ big bet on Fulton Market is paying off

Thor Equities’ big bet on Fulton Market is paying off
CEO Andrew Florance (Credit: CoStar via YouTube)

CoStar buying Ten-X for $190M

CoStar buying Ten-X for $190M
Small landlords, such as Jan Lee, a New York landlord who owns two buildings, say Wall Street players will take their place unless rent relief comes soon. (Credit: Twitter; background via BRYAN R. SMITH/AFP via Getty Images)

Small landlords call for rent relief package, fearing Wall Street takeover

Small landlords call for rent relief package, fearing Wall Street takeover
Cohen Brothers Realty president and CEO Charles Cohen and Cushman & Wakefield Chairman of Global Brokerage Bruce Mosler

Hear from billionaire Charles Cohen on today’s TRD Talk

Hear from billionaire Charles Cohen on today’s TRD Talk
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...