Carmel Partners Closes More Than $200 Million In Multifamily Development Loans

NEW YORK, May 11, 2021 /PRNewswire/ -- Carmel Partners ("Carmel"), a leading multifamily investment management specialist, announced today it has closed on approximately $220 million in land and construction loans to multifamily developers since August of 2020. With the historic impact on real estate of the COVID-19 pandemic which has dampened commercial real estate lending, Carmel's multifamily expertise and disciplined investment and underwriting approach enables Carmel to provide financing to projects and developers that may not have access to traditional financing options.

"Carmel has the capacity to originate efficiently new multifamily loans and provide customized lending solutions to real estate developers," said Lee Bloch, Partner at Carmel. "We have also demonstrated the capability to underwrite large, complex land and construction loans in nuanced markets such as Metro New York and Boston."

The firm's underwriting expertise has been honed over more than two decades of successful multifamily investing through multiple business cycles. As it did following the Global Financial Crisis, Carmel is focused on finding opportunities to provide loans to landowners and developers in the firm's target markets of Metro New York, San Francisco, Los Angeles, Seattle, Denver, Washington, D.C., Hawaii, and Boston. They will consider other markets for lending opportunities that meet the firm's criteria for risk-adjusted returns in multifamily lending.

If you are interested in discussing creative land, construction or bridge loans for your multifamily projects, please contact Yotam Dankner, VP, Development at Carmel at [email protected].

About Carmel Partners
Founded in 1996, Carmel Partners is one of the nation's leading specialists in real estate investment management, focusing on U.S. multifamily development and construction, and opportunities in debt and lending. Carmel seeks superior risk-adjusted returns across varying market cycles, executed through its vertically integrated platform in supply-constrained, high barrier-to-entry markets in the U.S. Since the firm's founding, Carmel has bought and renovated or developed, or is in the process of renovating or developing, more than 43,000 apartment units with an estimated value of $14.5 billion. Headquartered in San Francisco, Carmel has offices in Los Angeles, New York, Seattle, Denver and Washington, D.C.  For more information please visit www.carmelpartners.com.

Media Contact:
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Lisa Baker
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SOURCE Carmel Partners