Northwind Group launches $220M debt fund focused on NYC
Platform will invest in special situations
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.
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@example.com or 908-415-5229