Brasa Capital targets value-add properties for $100M credit vehicle

Century City firm just closed its latest fund, which will provide debt and equity on range of real estate

TRD LOS ANGELES /
Jul.July 13, 2020 11:00 AM
Eric Samek
Eric Samek

Seizing on potential opportunities in a distressed real estate market, Brasa Capital Management has closed a $100 million credit vehicle for value-add acquisitions and developments, mostly in Southern California.

The vehicle, which will provide debt and equity on multifamily, industrial, office and retail properties, is a first of its kind for the Century City-based firm founded by a former AEW Capital Management executive, according to the Los Angeles Business Journal.

Brasa plans to deploy the capital for deals between $5 million and $25 million in areas that include other parts of the Western U.S. and Texas, where it’s already active with other investment vehicles, according to the report.

The fund has already closed two deals: It poured $16 million into a multifamily development in Denver, and provided a $4 million loan on a mixed-use property in L.A.

Brasa Capital also offers joint venture equity, preferred equity, mezzanine debt and stretch senior loans, its founder, Eric Samek, told the Journal.

The firm launched its first real estate fund in 2018, a $120 million vehicle with capital from institutional investors and family offices. It has acquired 13 assets through that vehicle.

Last year, Samek filed to build a 62-unit live-work development in Leimart Park on a property acquired through an LLC for $2 million in 2018. [LABJ]Dennis Lynch 


Related Articles

arrow_forward_ios
BH Properties CEO Steve Gozini (BH Properties, iStock)

BH Properties launches $200M fund to capitalize on troubled real estate

BH Properties launches $200M fund to capitalize on troubled real estate
Century Plaza Towers (Credit: Minnaert via Wikipedia)

Here’s what tenants pay at 2.4M sf Century Plaza Towers

Here’s what tenants pay at 2.4M sf Century Plaza Towers
Joel Schreiber, CEO of Waterbridge Capital and 801 Broadway (Credit: Shir Stein and Google Maps)

Waterbridge JV shops 1M sf DTLA mixed-use complex

Waterbridge JV shops 1M sf DTLA mixed-use complex
Landlords are organizing a protest around the lack of mortgage relief government policies and the inability to hit tenants with eviction notices.

What do we want? Mortgage relief!: Landlords plan LA protest

What do we want? Mortgage relief!: Landlords plan LA protest
Core Spaces doubles down on USC student housing

Core Spaces doubles down on USC student housing

Core Spaces doubles down on USC student housing
Brian Chesky (Credit: Richard Bord/Getty Images, Airbnb, and iStock)

Airbnb sues booking guest over unauthorized house party

Airbnb sues booking guest over unauthorized house party
Wilshire Courtyard, Onni CEO Rossan De Cotitiis, and Times Mirror square (Credit: Onni Group)

Onni fired general counsel for refusing to work from office: Lawsuit

Onni fired general counsel for refusing to work from office: Lawsuit
Lori Loughlin and Mossimo Giannulli (Credit: Donato Sardella/WireImage via Getty Images)

Lori Loughlin, ahead of jail sentencing, picks up Hidden Hills mansion

Lori Loughlin, ahead of jail sentencing, picks up Hidden Hills mansion
arrow_forward_ios

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

Loading...