As the credit space and real estate continue to collide, $28.5 billion GID unveiled a new lending platform, dubbed GID Credit, aimed at providing commercial real estate debt solutions to institutional-grade borrowers.
The Boston firm boasts a seasoned credit team led by Jeff Thompson, former head of private CRE debt for Pimco Alternative Investment Strategies, where he served as co-head and president.
“The real estate credit market has diversified and grown significantly in recent years, creating new opportunities for investors,” said Thompson in a statement. “Our talented team aims to build a respected credit platform that offers unique value to our clients and aligns with GID’s mission of providing superior real estate solutions that create economic value and advance sustainability.”
Thompson is joined by: Adam Gibbons, former principal and head of originations at CIM Group, serving as co-head and chief investment officer; Dan Jagoe, former head of asset management and underwriting at Annaly Commercial Real Estate Group, serving as head of asset management; and Jennifer Keller, currently a vice president in GID’s Debt Capital Markets and serving as head of capital markets for GID Credit.
The new unit will offer transitional, floating rate bridge loans across all asset classes within the U.S.
“The addition of GID Credit to our business is true to our company’s purpose and reputation as a trusted real estate fiduciary,” says Greg Bates, president and CEO of GID in a company statement. “GID Credit continues our company-wide focus on sectors that present good relative value while prioritizing risk management rigor and stability for the investors who rely on us.”