3650 REIT Announces $ 580 Million First Close of $ 950 Million Stable Cash Flow Investment Vehicle II

MIAMI – (COMMERCIAL THREAD) – 3650 REIT (“3650”), a nationwide lender that issues and manages portfolio commercial real estate loans (“CREs”) for leading institutional investors, today announced the closing of 580 million dollars in institutional capital commitments as part of its Stable Cash Flow II vehicle investment. Expanding its existing relationship with 3650, the California State Teachers’ Retirement System (“CalSTRS”) has made significant, leading investments in the new vehicle with large allocations from its bond and real estate portfolios.

“We are excited to build on the success of our existing joint venture with CalSTRS and plan to make further investment announcements in the near future,” said Jonathan Roth, Co-Founder and Managing Partner of 3650 REIT. “As a leading global investor, CalSTRS recognizes the differentiation of the 3650 platform and the investment benefits of our private direct lending approach providing tailor-made portfolio finance products to top CRE owners and operators. in the American markets. ”

On behalf of its institutional partners, 3650 provides portfolio loans in the US CRE credit markets, ranging from long-term first mortgages on basic properties, to construction loans, mezzanine debt, to equities. privileged and rescue capital. 3650’s direct sourcing network targets the differentiated opportunities generated by teams in Miami, New York, Los Angeles, Dallas, Chicago and Nashville who manage relationships with key owners, operators and intermediaries in the nation’s markets. On behalf of its institutional investors, 3650 holds and manages each loan in its portfolio until maturity, fostering responsive communication and strong relationships with professional owners.

“During four cycles of dislocation in CRE’s markets over the past 30 years, we have identified two consistent attributes of long-term success: Partner, Justin Kennedy. “These are the core values ​​of the 3650 investment approach, and they are critical factors in the performance of our portfolio to date. Even if the pandemic is brought under control, we and CalSTRS believe that our cautious and practical approach throughout the life of each loan will be of critical value as CRE markets adjust to changing demand as types of assets and geography. ”

“We built 3650 to bring portfolio lending benefits in transparent communication, flexible structuring and responsive asset management to CRE capital markets,” said Toby Cobb, co-founder and managing partner of 3650. “ The performance of our portfolio to date during the pandemic is long lasting. a way of demonstrating the fundamental benefits of our lending model to both our borrowers and our investment partners. The fact that investors of this caliber make commitments at this scale provides further validation that the direct investment of our retirement capital model in high-quality loan assets will deliver service and alignment improvements for a long time to come. sought after by borrowers and investors in the CRE markets.

Since its inception in 2018, 3650 has closed over $ 640 million in its bridging and event lending strategy and $ 2.7 billion in its long-term stable cash flow strategy. 3650 enters 2021 with a strong pipeline of origination opportunities on its platform.

About 3650 FPI

3650 (pronounced “Thirty-Six Fifty”) REIT is a nationwide commercial real estate lender that creates and manages portfolio loans for relationship borrowers. 3650 REIT’s highly differentiated lending process, nationwide reach, vertically integrated platform, and Rated Special Servicer status enable it to deliver tailored financing solutions, high quality service, and dependable, focused results. the customer. Co-Founders and Managing Partners Toby Cobb, Justin Kennedy and Jonathan Roth have played a leading role in the evolution of CRE debt markets. Based in Miami, Florida, with offices in New York, Los Angeles, Chicago, Dallas and Nashville. For more information visit: www.3650REIT.com.

About CalSTRS

CalSTRS provides secure retirement to over 975,000 members whose service covered by CalSTRS is not eligible for Social Security participation. Members retire on average after over 24 years in the classroom with a monthly benefit of approximately $ 4,547. Founded in 1913, CalSTRS is the largest educator-only pension fund in the world with approximately $ 275 billion in assets under management as of November 30, 2020. CalSTRS demonstrates its strong commitment to the principles of long-term business sustainability in its annual Global Reporting Initiative Sustainability. For more information, visit CalSTRS.com.


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