News

Miami, FL — January 9, 2019 – Pensam Residential, a national multi-housing owner and operator, announced today the closing of a senior equity investment to recapitalize an 11-property portfolio consisting of 1,368 active-adult apartment units located across the Northeast and Midwest United States.

Pensam’s investment will facilitate funding the construction and stabilization of the portfolio, currently under various stages of development. The transaction marks Pensam’s second investment with the sponsor, a full-service national real estate developer and operator of active adult apartment communities with over twenty years of experience.

“We are pleased to invest with a top tier sponsor in the active adult housing sector.  This was a complex transaction involving multiple construction lenders in diverse geographic areas,” said Michael Stein, Founding Partner of Pensam Residential.

About Pensam Residential

Headquartered in Miami, Pensam Residential is a multi-housing owner and operator which manages a growing portfolio of properties across the United States.

Pensam encompasses all aspects of real estate property ownership and investment, including acquisition, financing, construction, repositioning, and management.  Pensam has invested in over 35,000 units across 125 properties.  For more information visit www.pensamresidential.com.

Ray Cleeman, Principal at Pensam Funding, will speak at the AltsMIA 2018 Conference in Downtown Miami on Wednesday, November 6, 2018.  The topics of conversation will revolve around alternative investment opportunities and private equity investing targeted towards family offices, high net worth individuals, institutions and pension groups. AltsMia brings together leading experts from across the alternative investment spectrum, including private equity, venture capital, real estate and hedge funds.  Ray’s panel, moderated by Simcha David, Partner of EisnerAmper, will discuss the impact of current trends in private equity.

Other speakers at the conference will include, among others:

• John Calamos Sr., Global Chief Investment Officer, Calamos Investments
• Marc Bell, Chairman and Co-Founder, Terran Orbital
• Ray Nolte, Chief Investment Officer, Skybridge
• Garth Friesen, Chief Executive Officer, Ill Capital Management
• Jeffrey Krasnoff, Chief Executive Officer, Rialto Capital
• Michael Falk, Chairman, Managing Partner, Comvest Partners & Co-Trustee of Michael and Annie Falk Foundation
• William Collatos, Founder, Spectrum Equity
• Maria Elena “Mel” Lagomasino, Chief Executive Officer, WE Family Offices
• Charmel Maynard, Associate Vice President and University Treasurer, University of Miami
• Chris Gizzard, Vice President, Bayshore Capital
• Steven Brod, Chief Executive Officer, Crystal Capital
• Roman Khlupin, Chief Investment Officer, Strenta Investment Management

Miami, FL – April 20, 2018           Pensam Funding, a direct real estate lender and affiliate of Pensam Capital, a fully integrated real estate investment platform, announced today that it recently made a $7 million bridge loan secured by a portfolio of properties, all located within the prestigious Venetian Islands overlooking Biscayne Bay, in Miami Beach, FL. The two-year fixed rate loan was structured to meet the Borrower’s specific requirements, including collateral release provisions that enable the Borrower to sell individual assets from the portfolio during the term of the bridge loan.

“This is another example of Pensam Funding’s continued activity in the South Florida market and our focus on providing flexible capital to our borrowers,” said Michael Stein, Founding Partner. “This loan illustrates Pensam Funding’s ability to think outside the box and provide financing solutions to meet the unique needs of our clients.”

Pensam Funding is focused on providing credit solutions for multifamily properties, and also considers lending opportunities in senior housing, manufactured housing, land and other real estate sectors.

About Pensam Funding and Pensam Capital

Headquartered in Miami, FL, Pensam Funding, an affiliate of Pensam Capital, is a private direct real estate lender which provides flexible and rapid capital solutions to experienced real estate sponsors across the capital stack including first mortgages, mezzanine debt, subordinate debt and preferred equity. For more information, visit www.pensamfunding.com.

Pensam Capital is a privately owned real estate investment platform.  Through its various affiliates, it owns or controls over 25,000 multifamily apartment units and invests in the multifamily sector through equity, preferred equity and debt structures. For more information, visit www.pensamcapital.com.

Miami, FL – April 20, 2018           Pensam Funding, a direct real estate lender and affiliate of Pensam Capital, a fully integrated real estate investment platform, announced today that it recently provided a $17 million bridge loan to facilitate the acquisition, renovation, repositioning and lease-up of a 504-unit multifamily asset located in Montgomery, AL. The fixed rate loan was structured to meet the borrower’s unique needs, including mechanisms that enable the borrower to draw additional loan proceeds to support its capital investment plan.

“This Loan is representative of Pensam Funding’s ability to tailor unique and flexible financing solutions that meet the specific business plans of our clients,” said Michael Stein, Founding Partner. “We continue to support our clients in their purchase of value-add strategies, lease-up opportunities, recapitalizations, partially completed construction projects and other transitional situations.”

While traditionally focused on multifamily properties, Pensam Funding also considers lending opportunities in senior housing, manufactured housing, land and other real estate sectors.

About Pensam Funding and Pensam Capital

Headquartered in Miami, FL, Pensam Funding, an affiliate of Pensam Capital, is a private direct real estate lender which provides flexible and rapid capital solutions to experienced real estate sponsors across the capital stack including first mortgages, mezzanine debt, subordinate debt and preferred equity. For more information, visit www.pensamfunding.com.

Pensam Capital is a privately owned real estate investment platform.  Through its various affiliates, it owns or controls over 25,000 multifamily apartment units and invests in the multifamily sector through equity, preferred equity and debt structures. For more information, visit www.pensamcapital.com.

Miami, FL – April 20, 2018           Pensam Funding, a direct real estate lender and affiliate of Pensam Capital, a fully integrated real estate investment platform, announced today that it recently provided a $36 million bridge loan to facilitate the acquisition of a newly-built 304-unit multifamily asset located in Houston, TX. Structured as a combined first mortgage and mezzanine loan, the combined loans represent over 85% of the acquisition purchase price. The non- recourse, floating rate loans are interest only with a two-year term.

“This Loan is representative of Pensam Funding’s ability to tailor unique and flexible financing solutions that meet the specific business plans of our clients,” said Michael Stein, Founding Partner. “We continue to support our clients in their purchase of value-add strategies, lease-up opportunities, recapitalizations, partially completed construction projects and other transitional situations.”

While traditionally focused on multifamily properties, Pensam Funding also considers lending opportunities in senior housing, manufactured housing, land and other real estate sectors.

About Pensam Funding and Pensam Capital

Headquartered in Miami, FL, Pensam Funding, an affiliate of Pensam Capital, is a private direct real estate lender which provides flexible and rapid capital solutions to experienced real estate sponsors across the capital stack including first mortgages, mezzanine debt, subordinate debt and preferred equity. For more information, visit www.pensamfunding.com.

Pensam Capital is a privately owned real estate investment platform.  Through its various affiliates, it owns or controls over 25,000 multifamily apartment units and invests in the multifamily sector through equity, preferred equity and debt structures. For more information, visit www.pensamcapital.com.

Miami, FL – April 20, 2018           Pensam Funding, a direct real estate lender and affiliate of Pensam Capital, a fully integrated real estate investment platform, announced today that it recently made a $7 million bridge loan secured by a portfolio of properties, all located within the prestigious Venetian Islands overlooking Biscayne Bay, in Miami Beach, FL. The two-year fixed rate loan was structured to meet the Borrower’s specific requirements, including collateral release provisions that enable the Borrower to sell individual assets from the portfolio during the term of the bridge loan.

“This is another example of Pensam Funding’s continued activity in the South Florida market and our focus on providing flexible capital to our borrowers,” said Michael Stein, Founding Partner. “This loan illustrates Pensam Funding’s ability to think outside the box and provide financing solutions to meet the unique needs of our clients.”

Pensam Funding is focused on providing credit solutions for multifamily properties, and also considers lending opportunities in senior housing, manufactured housing, land and other real estate sectors.

About Pensam Funding and Pensam Capital

Headquartered in Miami, FL, Pensam Funding, an affiliate of Pensam Capital, is a private direct real estate lender which provides flexible and rapid capital solutions to experienced real estate sponsors across the capital stack including first mortgages, mezzanine debt, subordinate debt and preferred equity. For more information, visit www.pensamfunding.com.

Pensam Capital is a privately owned real estate investment platform.  Through its various affiliates, it owns or controls over 25,000 multifamily apartment units and invests in the multifamily sector through equity, preferred equity and debt structures. For more information, visit www.pensamcapital.com.

The post Pensam Funding Closes $7 Million Bridge Loan, Collateralized by a Multi-Property Portfolio in Miami Beach, FL appeared first on Pensam Funding.

Miami, FL – April 20, 2018           Pensam Funding, a direct real estate lender and affiliate of Pensam Capital, a fully integrated real estate investment platform, announced today that it recently provided a $17 million bridge loan to facilitate the acquisition, renovation, repositioning and lease-up of a 504-unit multifamily asset located in Montgomery, AL. The fixed rate loan was structured to meet the borrower’s unique needs, including mechanisms that enable the borrower to draw additional loan proceeds to support its capital investment plan.

“This Loan is representative of Pensam Funding’s ability to tailor unique and flexible financing solutions that meet the specific business plans of our clients,” said Michael Stein, Founding Partner. “We continue to support our clients in their purchase of value-add strategies, lease-up opportunities, recapitalizations, partially completed construction projects and other transitional situations.”

While traditionally focused on multifamily properties, Pensam Funding also considers lending opportunities in senior housing, manufactured housing, land and other real estate sectors.

About Pensam Funding and Pensam Capital

Headquartered in Miami, FL, Pensam Funding, an affiliate of Pensam Capital, is a private direct real estate lender which provides flexible and rapid capital solutions to experienced real estate sponsors across the capital stack including first mortgages, mezzanine debt, subordinate debt and preferred equity. For more information, visit www.pensamfunding.com.

Pensam Capital is a privately owned real estate investment platform.  Through its various affiliates, it owns or controls over 25,000 multifamily apartment units and invests in the multifamily sector through equity, preferred equity and debt structures. For more information, visit www.pensamcapital.com.

The post Pensam Funding Closes $17 Million Bridge Loan to Support the Acquisition and Repositioning of a 504-Unit Multifamily Asset in Montgomery, AL appeared first on Pensam Funding.

Miami, FL – April 20, 2018           Pensam Funding, a direct real estate lender and affiliate of Pensam Capital, a fully integrated real estate investment platform, announced today that it recently provided a $36 million bridge loan to facilitate the acquisition of a newly-built 304-unit multifamily asset located in Houston, TX. Structured as a combined first mortgage and mezzanine loan, the combined loans represent over 85% of the acquisition purchase price. The non- recourse, floating rate loans are interest only with a two-year term.

“This Loan is representative of Pensam Funding’s ability to tailor unique and flexible financing solutions that meet the specific business plans of our clients,” said Michael Stein, Founding Partner. “We continue to support our clients in their purchase of value-add strategies, lease-up opportunities, recapitalizations, partially completed construction projects and other transitional situations.”

While traditionally focused on multifamily properties, Pensam Funding also considers lending opportunities in senior housing, manufactured housing, land and other real estate sectors.

About Pensam Funding and Pensam Capital

Headquartered in Miami, FL, Pensam Funding, an affiliate of Pensam Capital, is a private direct real estate lender which provides flexible and rapid capital solutions to experienced real estate sponsors across the capital stack including first mortgages, mezzanine debt, subordinate debt and preferred equity. For more information, visit www.pensamfunding.com.

Pensam Capital is a privately owned real estate investment platform.  Through its various affiliates, it owns or controls over 25,000 multifamily apartment units and invests in the multifamily sector through equity, preferred equity and debt structures. For more information, visit www.pensamcapital.com.

The post Pensam Funding Closes $36 Million Bridge Loan for the Acquisition of a 304-Unit Multifamily Property in Houston, TX appeared first on Pensam Funding.

Michael Stein, Founding Partner of Pensam Capital, will be featured in a panel discussion at the 2018 CBRE Capital Markets Multifamily Conference in Chicago on Thursday, April 26, 2018.  The panel is titled “Alternative Debt, Capital and Equity”.

David Webb, Vice Chairman of Capital Markets for CBRE, will moderate the panel.

Other panelists include Nicholas Killebrew, Head of Origination for Parse Capital; and Lacy Rice, Managing Partner and Co-Founder of Federal Capital Partners.

The post Michael Stein to Speak at 2018 CBRE Capital Markets Multifamily <br>Conference in Chicago appeared first on Pensam Residential.

Pensam Residential, a national multi-housing owner and operator, is pleased to announce its acquisition of the leasehold interest in The Kennedy, a newly built Class-A, 306-unit garden style multifamily apartment community located in San Antonio, Texas.

Completed in 2017, The Kennedy is a best-in-market multifamily property located in Southeast San Antonio, Texas within the Brooks City-Base, a 1,300-acre master-planned community developed on the former Brooks Air Force Base.

The Kennedy marks Pensam Residential’s seventh investment in a multifamily asset in the greater San Antonio metro area since 2011.  The property will benefit from Pensam Residential’s submarket knowledge and experience in operating The Landings, a 300-unit multifamily property located immediately next to The Kennedy at Brooks City Base.

The Kennedy offers tenants spacious one-bedroom and two-bedroom floor plans averaging 925 square feet, with features such as private patios and balconies, walk-in closets, stainless steel appliances, and granite & quartz countertops.  Community amenities include a resort-style swimming pool, business center, 24-hour fitness center and a Starbucks coffee bar.

“Pensam Residential is very excited to start operations at The Kennedy as we have gained a lot of market knowledge through our experience in operating The Landings, allowing us to take advantage of the synergies in running two adjacent properties with complementary product offerings”, said Michael Stein, Founding Partner of Pensam Residential.

The post Pensam Residential Invests in a 306-Unit Multifamily Apartment Community in San Antonio, TX appeared first on Pensam Residential.