PELICAN

Real estate debt investments focused on both Freddie Mac B piece and subordinated debt

Seeks to create attractive risk-adjusted returns in real estate structured finance through proprietary relationships and expertise in alternative sectors characterized by lack of capital, operational intensity, fragmented ownership and recession-resistance. Capitalizing on more stringent regulatory environment which has led to material tightening of real estate lending at commercial banks.

Strategy Highlights &
Investment Criteria

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Seasoned team with broad knowledge and sector expertise


Ability to operate investments as a downside risk mitigant


Investments in Freddie Mac structure products, including floating-rate B-pieces, supplemental loan B-pieces, fixed-rate B-piece and other structured deals


Investments in debt origination using our sector-specific expertise to enhance money center banks’ product offerings with higher leverage, nonrecourse and other attractive terms and conditions


Proprietary distribution channel through strategic relationships provides off-market opportunities