Peakhill provides $3.25 million for preferred equity behind Freddie Mac to further advance it's US investment platform

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Jul 14, 2023, 10:00 ET

TAMPA, Fla., July 14, 2023 /PRNewswire/ - Peakhill USA Inc. is pleased to announce the closing of a $3.25M preferred equity investment in River Pointe apartments, a 220-unit stabilized garden style multi-family property in Tampa, FL. Working in conjunction with CBRE and Freddie Mac, Peakhill provided the preferred equity behind a $24.1MM, 10-year, fixed rate mortgage. The investment provides the Sponsor a lower, fixed cost of capital and allows Peakhill to benefit from the strong continuing performance of the asset.

River Pointe apartments (CNW Group/Peakhill Capital)

Peakhill continues to build an active pipeline of preferred equity opportunities throughout major markets in the US, with a focus on $3-10M investments. Peakhill and its affiliates anticipate completing a $300M preferred equity fund with its institutional clients in 2023, to further assist property owners constrained with low leverage first mortgages in an elevated interest-rate environment.

Sandor Biderman, Managing Director of Peakhill, said, "We are thrilled to be able to provide this financing solution to TLR, a well-established local owner-operator with a strong management team. Peakhill is looking to expand our preferred equity portfolio, and we are partnering with first mortgage lenders to fill the equity gap in multifamily refinances and acquisitions."

Peakhill is a North American investment and asset management firm that specializes in credit and equity investments. In 2023, Peakhill expects to fund over 500 transactions valued at over $3B. The firm's focus is on multifamily income-producing and ground-up development projects. It has several active developments/redevelopments across the U.S. in markets including New York City, Dallas, and Miami. Peakhill is led by Harley Gold, Jonah Belkin, and Sandor Biderman.

SOURCE Peakhill Capital