RRA Capital Celebrates 5 Years of Partnership with CopperPoint Insurance Companies
PHOENIX, Nov. 19, 2018 /PRNewswire/ -- Leading commercial real estate bridge lender and investment firm RRA Capital celebrates five years of partnership with CopperPoint Insurance Companies, an Arizona-based insurance provider with over $4 billion in assets.
In August 2013, RRA Capital and SCF Arizona (CopperPoint's predecessor) created a strategic partnership to capitalize on the post-GFC credit dislocation in the commercial real estate capital market. That partnership has grown into a $250 million, separately managed account originating and holding commercial real estate bridge loans secured by properties in growing and stable markets across the United States.
CopperPoint, like many institutional investors, looked to commercial bridge lending because of its shorter duration loans and floating rate returns, which traditional commercial mortgages lack. Commercial mortgages have long been a popular investment asset class dominated by banks, insurance companies, and CMBS. However, as a result of the 2008 financial crisis, many of these traditional lenders were forced to retreat or retrench, allowing thoughtful investors like CopperPoint to fill the gaps in value-add commercial real estate bridge lending. "The greatest losses were felt by traditional lenders lending on stabilized assets or development projects at the top of the market," said RRA's Co-Founder, Boots Dunlap. "Therefore, we look for idiosyncratic, event-driven opportunities where CopperPoint can lend on attractive buildings in flourishing markets at a highly reduced basis."
The relationship began in 2008 when CopperPoint hired RRA Consulting, RRA Capital's advisory affiliate, to advise on their commercial real estate lending platform. Shortly thereafter, CopperPoint hired RRA to replace another provider as the separate account investment manager for its $300 million commercial mortgage portfolio. "RRA provided a modern approach to managing mortgages through enhanced risk management technology and a unique, hands-on strategy more effective than anything we'd seen," said Don Smith, then CEO of SCF Arizona. "Because of that, and RRA's extensive track record of preserving and creating value for other lenders, we hired RRA over several other firms. I'm really glad we did."
About RRA Capital
RRA Capital is a fully integrated, middle-market, real estate lending firm specializing in short-term structured transactions across the credit spectrum. Since 2013, it has managed over $700 million on behalf of institutional investors across three bespoke bridge credit platforms which focus on first-position senior mortgages, mezzanine debt, and preferred equity, with an emphasis on value-add opportunities. More information can be found at www.rracapital.com.
CONTACT: Jami Giovannini, [email protected]
SOURCE RRA Capital
Related Links
WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?
Newsrooms &
Influencers
Digital Media
Outlets
Journalists
Opted In
Share this article