ACORE Capital Commits $5.0 Billion in 2016; Deploys $6.1 Billion since Inception

SAN FRANCISCO--()--ACORE Capital, LP (“ACORE”), a leading commercial real estate finance company, is pleased to announce that it enjoyed a banner year in 2016, having signed up or closed 70 loans for a total commitment of approximately $5.0 billion.

“We believe this sustained volume combined with the quality of our borrowers is testimony to the competitive advantages of ACORE’s platform.”

“Throughout 2016, our team of commercial real estate professionals consistently originated large loans in major markets across the country secured by a diverse range of property types,” said Boyd Fellows, one of ACORE’s four Managing Partners. “We believe this sustained volume combined with the quality of our borrowers is testimony to the competitive advantages of ACORE’s platform.”

Commenting on ACORE’s impressive success, Managing Partner Warren de Haan stated, “We believe we are filling a critical financing void as one of the very few commercial real estate private debt managers capable of both prudently and reliably deploying billions of dollars in capital for large complex CRE transactions annually. We look forward to maintaining our strong momentum in 2017 and beyond.”

ACORE seeks to provide value-add real estate financings to high quality sponsors that are secured by a diverse mix of asset types primarily located in fundamentally strong markets across the country. Click here for a list of recently originated loans. Highlighted deals include the following:

  • $157 million first mortgage and mezzanine loan for Phase II of The Ritz Carlton Residences, a 244-unit, ultra-luxury residential complex on Long Island’s North Shore community;
  • $142 million first mortgage to refinance Tower Burbank, a 32-story, Class A office building located in Los Angeles County.
  • $120 million first mortgage on a portfolio of four full-service hotels located across four states; and
  • $67 million first mortgage and mezzanine loans on a multifamily renovation portfolio located in Tucson, Arizona.

Since its inception in May 2015, ACORE has signed up or closed 87 loans for more than $6.1 billion. ACORE’s track record has quickly established the firm as a major source of floating rate bridge capital on large, complex commercial real estate transactions.

ACORE operates offices in San Francisco, Los Angeles, New York City and Dallas and employs a seasoned team of 58 commercial real estate professionals.

About ACORE Capital

ACORE Capital, LP is a commercial real estate finance company focused on originating, acquiring and managing first mortgages, B-notes, mezzanine debt and preferred equity throughout the United States. ACORE, which is an acronym for Alpha Commercial Real Estate, specializes in providing borrowers with customized financing solutions at competitive rates and flexible terms. For investors, ACORE is focused on generating alpha through attractive commercial real estate debt investments coupled with superior risk management. ACORE is led by commercial real estate finance veterans Boyd Fellows, Stew Ward, Chris Tokarski and Warren de Haan. For more information, please visit www.acorecapital.com.

Loan figures represent total loan commitments for closed loans and loans for which term sheets have been signed as of December 31, 2016. Signed terms sheets are subject to change and may not be consummated. Prior performance is not a guarantee of future results.

Contacts

ACORE Capital
PR@ACORECapital.com

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