Columbia Pacific Advisors has launched a new fund to provide capital to real estate owners and developers affected by COVID-19.
The Columbia Pacific Recovery Fund will assist with special situations involving a recent imbalance between debt and equity, and which can be solved with interim financing. These include overleveraged real estate assets that require an upfront loan, with additional capital provided as needed over a two- to five-year period.
“As a fully capitalized lender, we are well positioned to provide real estate owners and developers with the resources and time they need to navigate the current environment, as well as position themselves for success post-COVID,” said Billy Meyer, managing director of real estate lending at Columbia Pacific Advisors.
The platform has already made its first investment — a $39.1 million bridge loan for a new 24,357-square-foot mixed-use residential property in SoHo, New York City. The funds will be used to suppo
