Churchill raises $2bn for discretionary funding vehicle

Churchill Real Estate announced that it has secured $2 billion in investment capital in order to capitalize on residential transition lending opportunities. According to officials, the scale of the transaction represents the largest single institutional investment in the residential transitional lending (RTL) asset class. They said that the commitment from institutional investors reflects the strength of the firm’s RTL portfolio, real estate investment expertise and track record, while affirming the healthy lending opportunities that exist in the space. The transaction includes opportunities in investor-purpose debt, bridge funding, fix-and-flip financing, condo inventory and new construction loans, said Travis Masters, managing partner, Churchill Real Estate. In addition to Masters, Justin Ehrlich, Sorabh Maheshwari and Derrick Land will oversee the investment of the RTL portfolio after having managed more than $1 billion across multiple real estate investment strategies. Churchill executives said that the firm has maintained investor confidence throughout the COVID-19 pandemic, which further solidifies the firm’s ability to deliver returns and capitalize on RTL opportunities. “The transaction is a testament to our combined expertise and overall knowledge of the industry, which promotes the return profile our partners have come to expect from investing with Churchill,” said Masters. “It is a really exciting time for Churchill and we look forward to expanding our business in a prudent and risk mitigated way.” The discretionary funding vehicle that can be made available for investment across any of Churchill’s real estate lending and investment portfolios. With offices in New York City and Charlotte, North Carolina, the firm currently has more than $1.3 billion in assets under management. Churchill was founded in 2014 to take advantage of bespoke, point-in-time opportunities throughout real estate market cycles with primary focus on downside protection while optimizing risk-adjusted return.

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