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1/27/23
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Dekel Capital has launched Dekel Correspondent Lending (DCL), which will originate balance sheet and CMBS loans for the acquisition, refinancing and recapitalization of commercial real estate assets including build-to-rent and single-family rentals on behalf of capital providers including a global asset manager and large European bank. Real estate finance veteran Vishal Vanjani joins the firm as Managing Director to lead the new initiative along with Ben Markiles who joins the firm as Associate.
DCL adds to the Los Angeles-based real estate merchant bank’s suite of services that provide real estate investors and owners with financial solutions across the entire capital stack including permanent loans, B-notes, mezzanine financing, preferred equity and joint venture equity.
“We expect to originate approximately $500 mil through our DCL platform and combined with our debt advisory and JV equity services, we will help our clients manage the current crisis, take advantage of the market dislocation and prepare for the future,” comments Dekel Capital Principal and Founder Shlomi Ronen.
“Unlike other correspondent programs that are generally focused on ‘in-the-box’ financing, we will be able to originate in-house a variety of non-recourse loans with short-term, floating-rate and long-term, fixed rate capital,” added Vanjani. “Our partners are looking to us to bring them opportunities with strong underlying dynamics in need of intelligent and patient capital.”
Vanjani and Markiles come to Dekel from CION Investments, where they ran the alternative investment manager’s real estate capital markets program.
Vanjani has originated more than $15 bil over the course of his 28-year career in real estate finance, most notably running West Coast operations for Natixis and Pacific Western Bank (formerly CapitalSource). Prior to CION, he was President of Greenbridge Finance, the financing arm of Greenbridge Management.
Markiles began his career at Deutsche Bank originating CMBS and bridge debt out of the firm’s Los Angeles office. He later joined LoanCore Capital in its San Francisco office assisting in the origination of real estate debt across the United States.
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