Peakhill Capital, Declaration Partners Form JV
Peakhill Capital, a commercial real estate lender, has formed a joint venture with Declaration Partners, an investment firm anchored by the family office of private equity veteran David Rubenstein, to provide ‘gap capital’ to owners of residential rental properties facing loan paydowns.
The JV seeks to fund preferred equity investments ranging from $5 million to $25 million in multifamily, student housing and build-for-rent (BFR) projects, supporting asset owners by providing capital behind agency, LifeCo and CMBS loans. Peakhill Capital aims to reach $300 million in production in the next 12 months across the U.S.
“Many owners of multifamily properties are finding their lenders are requiring loan paydowns,” said Todd S. Rich, co-founder of Declaration Partners. “Declaration and Peakhill can provide friendly ‘gap capital’ to assist those owners in successfully recapitalizing their properties.”
Peakhill Capital operates credit, co-GP, and preferred equity strategies throughout North America, managing more than $10 billion in assets. Declaration Partners has $2.2 billion in assets under management.
