AVANA Cos. and funds managed by Oaktree Capital Management have formed the $250 million AVANA-Oaktree Private Credit Partnership (AOPCP) for its direct private commercial real estate lending strategy.

Through the joint venture, AVANA will use the capital to provide private debt financing in the United States over the next three years.

AOPCP aims to invigorate local economies and create jobs. The funding will provide SMEs in the commercial real estate sector with access to capital in the form of bridge and construction loans for all commercial real estate products.

Since 2002, AVANA has served more than 500 small businesses with 66 percent of their entrepreneurial customers being black, indigenous and people of color (BIPOC). AVANA has funded $1 billion in loans to minority entrepreneurs, which have directly and indirectly created more than 5,500 jobs.

“After 22 years of working within the commercial real estate industry and SMEs, we recognize the chal