Real estate investment veterans Vincent DiSalvo and Michael Gallagher have launched Contrada, a U.S. housing investment manager focused on special situations, with a strategic anchor investment from a multigenerational New York development firm.
Through its flagship U.S. Housing Dislocation Fund, Contrada is targeting distressed properties, performing and nonperforming loans, and recapitalization opportunities in select U.S. housing markets.
The strategy seeks to capitalize on dislocation in the housing market as loans originated during a period of lower interest rates mature into a higher-rate environment, creating refinancing challenges for property owners. Rising operating expenses and slowing rent growth are also putting pressure on property performance.
“Across the country, capital structures are broken,” said DiSalvo, founder and CIO of Contrada. “Operators are seeing that rent growth is proving to be a less effective hedge against inflation than in
