KDM Financial Launches $350M Commercial Real Estate Fund for Multifamily Projects and Distressed Properties
Coral Gables-based lending firm KDM Financial is launching a $350 million commercial real estate fund.
The fund aims to provide bridge loans for completed multifamily projects and acquire distressed properties. KDM’s CEO, Holly MacDonald-Korth, stated that it’s their first fund and will be an evergreen fund, providing flexibility as the market changes. They plan to close the first round of funding by the end of the first quarter. The focus will be on multifamily projects in the central and Southeast U.S., offering loans between $5 million to $45 million.
The fund will also be used to acquire distressed commercial real estate properties based on opportunities in the market. KDM, established in 2006, is a middle market commercial mortgage lender.
The move aligns with the current lending environment, with higher interest rates and banks pulling back, creating opportunities for private lenders.
Source:
The Real Deal – You can see the full note by accessing the following link https://therealdeal.com/miami/2024/01/22/kdm-launches-350m-commercial-real-estate-fund/
