New Firm Enters Real Estate Financing Market with ~$250 Million Loan Portfolio and Extensive Pipeline
Industry veteran Evan Bell today announced the formation of Lorimer Capital, a new commercial real estate lending platform specializing in first mortgage and mezzanine bridge and construction loans across the eastern United States. Bell is launching his new firm in partnership with long time investment partners Ilan and Erez Rubinstein.
With a proven track record of successful collaborations, hundreds of millions of dollars in existing loans closed by the principals in the past 12 months and a robust pipeline of upcoming deals, Lorimer Capital is a response to the accelerating demand from sponsors seeking creative and flexible capital solutions in a rapidly evolving market. Lorimer Capital will focus on a broad array of commercial real estate asset classes including multifamily, for sale condominium, retail, office, hospitality and mixed-use.
“The market continues to experience growing demand from real estate sponsors for responsive, tailored and competitive capital solutions,” said Evan Bell, Co-Founder and Managing Partner of Lorimer Capital. “Lorimer Capital, which is built upon a reputation for prompt and reliable execution, provides custom and flexible financing options that address the unique needs of every project.”
Lorimer Capital Co-Founders and Partners Ilan Rubinstein and Erez Rubenstein added, “Our investment strategy remains value-driven and disciplined, delivering strong, risk-adjusted returns for our investors. Our borrowers benefit from our substantial financing capacity and can rely on our proven execution, giving them the resources and confidence they need to capitalize on today’s opportunistic market.”
Bell and the Rubinsteins possess decades of combined real estate experience across finance, development, law, investment and management. Each has a proven track record of success through multiple real estate cycles and various market conditions.
As former co-founder and principal of Unity Capital, Bell had previously teamed with the Rubinsteins to originate hundreds of millions of dollars in real estate transactions over the past several years. Following Bell and the Rubinsteins to Lorimer are recent loans with Kushner Companies, Starfield Companies and Stillman Development International.
Bell began his career as a real estate finance attorney representing clients such as Morgan Stanley and Barclays in mortgage and mezzanine loan financings totaling more than $10 billion. The Rubinsteins are both Co-Founders and Principals at Ruby Ventures, an international diversified investment company owned and managed by their family. The Rubinstein family is also a founding partner of H&R Developments and its affiliated companies, including H&R REIT (TSX: HR.UN).
Ilan Rubinstein is a co-founder and Chairman of Ruby Capital, a real estate investment company that provides equity and debt financing for real estate development projects in Israel. Erez Rubinstein previously worked for several New York City based real estate development and finance firms, including the Carlton Group and the Urban Builders Collaborative. He also served as a principal in the Canadel Group, focused on real estate development in Eastern Europe.
Lorimer Capital’s name pays homage to Lorimer Street in Brooklyn, where the firm’s co-founders successfully executed their first real estate loan together.
About Lorimer Capital
Lorimer Capital is a direct portfolio lender providing creative financing solutions for commercial real estate opportunities throughout the eastern United States. Led by industry veterans with decades of combined experience, the firm specializes in bridge, construction and mezzanine loans. For more information, visit www.LorimerCapital.com.
