Oaktree forms JV for real estate lending

Oaktree Capital Management and Veleta Capital launched a strategic joint venture, Veleta Capital Partners, creating an institutional lending platform for multifamily and commercial real estate assets.

The $166 billion Oaktree has also acquired a minority stake in Los Angeles-based Veleta Capital, which provides short-term, senior secured loans on multifamily and commercial real (CRE) assets mostly in the Western U.S.

The joint venture will be based in Los Angeles and is targeting 12- to 36-month senior secured transition loans for multifamily and CRE assets of up to $20 million. Veleta Capital Partners . . .

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