V¤rde Partners, a leading global alternative investment firm, today announced the closing of a commercial real estate collateralized loan obligation (CRE CLO). This is the firms second CRE CLO this year.
The asset pool consists of 25 floating-rate mortgages secured by 27 properties and has an aggregate unpaid principal balance of $457.8 million. V¤rde offered $362.3 million of bonds rated AAA through BBB-. The assets include office, multifamily, retail, hospitality, self-storage, mixed use and industrial properties across 13 states with an average principal balance of approximately $18.3 million.
The execution of this deal is in line with the continued expansion of V¤rdes Mortgage Business and creation of long term financing relationships, said Brian Schmidt, Partner and Head of V¤rdes Mortgage Business.
V¤rde has originated or acquired more than $2.5 billion in commercial real estate loans since 2014 with its origination activity primarily focused on floating-rate mortgage loans on light transitional, value-add and event-driven commercial and multifamily opportunities across the U.S. V¤rde closed its first CRE CLO in February 2018 with an aggregate principal balance of $368.1 million backed by 25 mortgages and 28 assets.
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V¤rde Partners is a $14 billion global alternative investment firm that employs a value-based approach to investing across a broad array of geographies, segments and asset types, including mortgages, corporate credit, real estate, specialty finance, energy, real assets and infrastructure. The firm sponsors and manages a family of private investment funds with a global investor base that includes foundations and endowments, pension plans, insurance companies, other institutional investors and private clients. Now in its third decade, V¤rde employs more than 300 people globally with regional headquarters in Minneapolis, London and Singapore.
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