Bravo Property Trust Teams With Middle East Investor

Bravo Property Trust has been busy deploying property loans across the country. It’s now receiving a helping hand from the other side of the world.

The real estate credit investment platform reached an agreement with an unnamed Middle East investor to finance $400 million worth of property loans in the United States, Bloomberg reported. The foreign asset manager reportedly oversees sovereign wealth fund capital, but further information about the investor was not disclosed.

“This partnership reflects the increasing demand from sovereign and institutional capital for direct access to high-quality, asset-backed credit in the U.S. housing market,” Bravo chief executive officer Aaron Krawitz said in a statement.

The Middle East investment will be centered on properties with a takeout path from the U.S. Department of Housing and Urban Development or a similar agency. Bravo and its affiliates have originated and financed more than $1.6 billion in either bridge or HUD-focused loans since its founding four years ago.

Bravo will also provide capital on whole loan bridge, construction, stabilized apartment and health care-property transactions.

Bravo’s made a number of notable loans in recent months, particularly in the tri-state area.

In March, Bravo Property Trust — an affiliate of Bravo Capital — and Integritas Capital provided $125 million in construction financing to Wolfe Landau’s Watermark Capital Group for the conversion of 175 Pearl Street in Dumbo, Brooklyn. Landau plans to convert the 1918-built property into a 19-story complex with rental and condo units.

The same month, Bravo also provided a $65 million construction loan to Myneni Properties to finance a 15-story residential development in Jersey City’s West Side neighborhood, the Commercial Observer reported. The deal was structured as a bridge-to-HUD loan.

Also in March, Bravo originated $37 million in construction financing to Artifact Real Estate for a 78-unit multifamily development in Hamilton Heights, according to the Observer.

— Holden Walter-Warner