NEW YORK, July 20, 2016 /PRNewswire/ -- Pembrook Capital Management LLC (Pembrook), a commercial real estate investment manager that provides financing throughout the capital structure, including first mortgages, mezzanine, bridge loans, note financings and preferred equity for most property types, today announced it has now originated or participated in 86 investments totaling over $1 billion since its inception in 2007.
Founded by 35-year industry veteran and company CEO Stuart J. Boesky, Pembrook is a SEC-registered investment adviser that manages commercial real estate private equity funds focused on debt strategies. The firm has established long-standing relationships with commercial real estate owners, developers, service providers, banks, as well as federal agencies and state housing authority officials that has provided access to consistent deal flow.
"This is a major milestone for our firm and one that could only be accomplished through the diligent work of the entire Pembrook team, among the most experienced, dedicated real estate professionals in the business," added Mr. Boesky. "The extensive industry relationships we have built brought a substantial number of deals to us over the last nine years, and our ability to move quickly on these opportunities has given us a competitive advantage. We are extremely pleased with the way our business has performed throughout our history and crossing the one billion dollar mark is another step forward in solidifying our position as a true commercial real estate investment leader."
Boesky adds, "Pembrook remains focused on expanding our brand while improving the efficiency of our operations. We are well positioned to continue our growth and fully expect the new business pipeline we are building to remain robust throughout the remainder of 2016 and beyond."
Within the last year alone, Pembrook has closed a number of significant transactions including:
- $16.6 million loan to the NHP Foundation for the acquisition of the Mark Twain Hotel in Chicago, one of the first transactions in accordance with the city's SRO Preservation Ordinance.
- $25 million in loans for the acquisition and refinancing of two properties in the heart of the Washington D.C. Central Business District.
- $25.7 million first mortgage bridge loan to an affiliate of McSam Hotel Group to finance a planned Hyatt Place hotel development site on Manhattan's West Side.
- $30.4 million first mortgage bridge loan and preferred equity position to acquire and renovate the Madison Oaks Apartments complex in Palm Harbor, Florida, a submarket of Tampa.
- $32 million first mortgage loan to The Shrine Collection, LLC to acquire and renovate a student housing complex in Los Angeles near the University of Southern California (USC) campus.
About Pembrook Capital Management, LLC
Founded in 2006 by Stuart J. Boesky, Pembrook Capital Management invests in and originates commercial real estate debt to finance all parts of a capital structure including first mortgages, mezzanine, bridge loans, note financings, and preferred equity across the United States. The firm invests in most commercial real estate property categories, including multifamily, office, retail and industrial.
SOURCE Pembrook Capital Management