Smith Hill Capital, ECI Group, and InterVest have launched a $250 million private lending platform to provide financial solutions including first mortgages, mezzanine loans, and preferred equity investments to multifamily owners for refinancing, new construction, and acquisitions. Target loan amounts are expected to range between $15MM and $100MM. Peter Rotchford, Brett Rosenberg, and Clayton Ross of JLL Capital Markets advised ECI and Smith Hill on arranging the lending platform.
ECI CEO Seth Greenberg emphasized the potential of the partnership for the debt platform, saying, “ECI is excited to partner with Smith Hill and InterVest to provide institutional quality multifamily owners and operators with critical funds for refinancings, new development, construction, and acquisitions.” Greenberg continued, “This platform broadens ECI’s capabilities, allowing us to own, develop, manage, and provide tailored financial solutions in the multifamily space. We are prepared to move quickly to put our debt platform to work and have already begun to target deals.” The company and its partners will initially target deals in its current footprint in the Southeast U.S. and Texas but, as the strategy grows, expand to additional regions within the United States.
Smith Hill Managing Principal, Brendan McCormick, said, “Smith Hill is excited to partner with ECI, one of the most respected and experienced multifamily owners and operators in the country, and InterVest, a premier investment manager within the real estate and structured credit space. We believe that there is a large opportunity to serve as a capital solutions provider in the multifamily space and look forward to leveraging the collective expertise of our platform to provide innovative financing solutions.”
InterVest SVP, Rob Rothschild, commented, “InterVest is excited to partner with ECI and Smith Hill to provide institutional investors with the capital needed to accelerate growth in the multifamily sector. Our focus on structuring tailored debt and equity solutions aligns with the growing demand for both development capital and refinancing.”
About ECI Group
For more than 50 years, ECI Group has been one of the most highly regarded, privately owned real estate organizations in the United States. The firm is fully integrated, with development, construction, investment, and property management groups that have garnered national recognition for innovation and performance in the multifamily industry. With a portfolio of more than 7,500 units located throughout the Southeast and Texas, ECI is strategically positioned to continue to be a leader in the multifamily industry. For more information, visit www.ecigroups.com.
About Smith Hill Capital
Smith Hill Capital (“Smith Hill” or “SHC”) is the fully integrated commercial real estate debt investment management business of the Procaccianti Companies (est. 1958). Smith Hill Capital was formed to invest in compelling commercial real estate debt opportunities that exist due to liquidity challenges and dislocation in commercial real estate financial markets. Smith Hill Capital is led by seasoned investment professionals who have multi-cycle investment experience and the tenured skill set to identify opportunities throughout the entire commercial real estate capital structure, spanning from securities to equity ownership.
About InterVest
InterVest Capital Partners is a New York-based SEC-registered investment adviser specializing in asset-based lending, leasing, and structured finance. With over $15 billion in funds/accounts and more than 120 funds launched, the firm is dedicated to maximizing value and achieving long-term growth. Their approach focuses on developing innovative deal structures, aligning interests across stakeholders, and ensuring consistent performance while managing risk. InterVest prides itself on strong partnerships with leading specialty finance platforms, creating proprietary deal flow and offering customized financing solutions.
About JLL
For over 200 years, JLL (NYSE: JLL), a leading global commercial real estate and investment management company, has helped clients buy, build, occupy, manage, and invest in a variety of commercial, industrial, hotel, residential and retail properties. A Fortune 500® company with annual revenue of $20.8 billion and operations in over 80 countries around the world, our more than 110,000 employees bring the power of a global platform combined with local expertise. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAY®. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
