RXR and Hudson Realty Capital merge their mortgage lending businesses
NEW YORK–(BUSINESS WIRE)–RXR, a leading real estate owner, operator and developer with a proven track record in structured finance investing, and Hudson Reality Capital (Hudson), a fully integrated commercial real estate lender with extensive origination experience, Due Diligence, Capital Markets and Asset Management, announced the creation of RXR-Hudson, a strategic lending platform designed to achieve risk-adjusted returns through direct commercial real estate lending in major U.S. markets .
Building on the companies’ strong 25-year track record, RXR-Hudson encapsulates RXR’s extensive experience operating, developing and constructing complex real estate projects, while adding a unique element of value to the lending platform. current Hudson. Over the next several years, RXR-Hudson expects to lend more than $2 billion in sectors experiencing strong investor demand and demographic tailwinds, such as housing, industrials and healthcare-related sectors.
“As RXR continues its national expansion into other major markets, RXR-Hudson is well equipped to capitalize on the rapidly changing trends arising from the pandemic,” said Scott Rechler, president and CEO of RXR. “Hudson’s national origination network and real estate finance expertise combined with RXR’s multidisciplinary franchise will enable RXR-Hudson to seek out and execute a strong pipeline of opportunities in its targeted lending space.”
RXR-Hudson will issue traditional loans, including bridging, mezzanine or preferred stock type investments to facilitate the acquisition, construction or recapitalization of real estate assets. The platform will also direct some of the investments to Opportunity Zones, sustainability initiatives, and minority and women-owned businesses.
David Loo, co-founder and managing partner of Hudson added, “Our launch of RXR-Hudson marks another milestone for us as a business, building on what was a banner year in 2021. As we continue to see tremendous opportunities in the market , we look forward to working with RXR and their visionary leadership. team to accelerate our growth.
RXR-Hudson will leverage corporate synergies with unique real estate and credit skill sets to create a national commercial real estate debt platform. Both companies have decades of experience and are comprised of experienced teams with proven track records and expertise in real estate finance. Rounding out the team, Jason Kirschner, Managing Director of Finance and Capital, has been hired to focus on scaling RXR-Hudson’s debt portfolio. Kirschner was previously senior vice president of finance and capital markets at Brookfield Property Partners, where he was responsible for a debt portfolio of more than $20 billion for office, multi-family, hotel and development properties.
RXR is an investor, developer and creator of innovative places committed to applying a client and community-centric approach to building properties, services and products that create lasting value for all stakeholders. Headquartered in New York with a national platform strategy, RXR is a vertically integrated operations and development company of more than 500 people, with expertise in a wide range of value creation activities, including real estate, infrastructure and industrial development, revealing value in underperformance. properties, repurposing well-located iconic properties, incorporating cutting-edge technologies and value-added loans. The RXR platform manages 84 commercial real estate properties and investments with an aggregate gross asset value of $22.4 billion, comprising approximately 30.3 million square feet of commercial properties, a multi-family residential portfolio of approximately 6,900 units in operation or under development, and development control rights for approximately 2,900 additional multi-family and for-sale units.
About Hudson Realty Capital
Hudson Realty Capital is a New York-based minority-owned commercial real estate investment management firm that provides middle-market deal sponsors across the United States with top-to-bottom-of-the-capital-stack financial solutions. Recognized for their hands-on approach and unique ability to quickly adapt to market changes, Hudson’s team of seasoned real estate investment professionals have extensive experience in debt origination, debt analysis and resolution. distressed debt, due diligence, securitization, asset management, loan servicing and disposition. Since its inception in 2003, the firm has invested in transactions totaling more than $4.5 billion in aggregate value across the multifamily, office, industrial, retail, mixed-use and hospitality sectors.