Qualitas Construction Finance Fund
Real estate investment management firm Qualitas has announced it has raised $500m of institutional capital for the first fund of a multi-billion dollar construction finance program that will provide loans of up to $125m for residential and commercial development projects.
In a statement, the firm said: "The closed-end fund is a core part of Qualitas’ rapidly expanding real estate debt strategy that fills a gap created by a pull-back in bank lending. The new fund will provide capital at a loan-to-value ratio of up to 75% for projects that meet its robust risk assessment criteria."
Andrew Schwartz, group managing director of Qualitas, added: "Our new construction finance fund will provide a much needed source of capital to developers in a tight credit market, with a focus on quality projects in East Coast capital cities."