3650 Capital, a nationwide alternative commercial real estate lender, special servicer and solutions provider focused on originating, servicing and asset-managing loans and providing advisory support to global institutions – announced that it has secured $215 million in fresh capital commitments from repeat investors the California State Teachers’ Retirement System (CalSTRS) and Mubadala Investment Company. The new capital will be allocated across 3650’s lending strategies and support multiple investment products.
The new capital will be used across 3650’s three investment strategies. The capital will be deployed in 3650’s Stable Cash Flow (SCF) strategy, which provides long-term, fixed-rate financing, and 3650’s Real Estate Credit Solutions (RECS) strategy, which involves short-term value-add financing (formerly known as 3650’s Bridge and Event-Driven platform) and SASB and transitional loans. CalSTRS capital will also be deployed in 3650’s Special Situations Investment Strategy (SSIS), which is focused on equity and structured capital solutions for broken capital structures, loan purchases and value-add business plans.
In the third quarter of 2024, 3650 announced it received nearly $430 million in capital commitments from CalSTRS and two institutional investors new to its roster: Temasek, an investment company headquartered in Singapore, and a top-ranked independent wealth management and investment advisory firm. Earlier in the year, 3650 announced a $100 million commitment from Public Officials Benefit Association (POBA), the Seoul, South Korea-based public pension fund.
KEY QUOTES:
“We are deeply grateful for the unwavering support of our world-class, global institutional investors and are proud to accept these new commitments from both CalSTRS and Mubadala. As longtime advocates of 3650’s investment strategies, both organizations have enabled us to continue to pursue a diverse range of capital solutions for our borrowers, resulting in superb portfolio performance and consistent growth. We look forward to maintaining our longstanding relationships with both institutions as we identify new opportunities to deploy capital into a variety of U.S. markets and projects in the new year and beyond.”
- Jonathan Roth, Co-Founder and Managing Partner of 3650 Capital
“As we enter 2025, alternative capital providers are evaluating a robust slate of opportunities to finance commercial real estate projects while banks remain retrenched. Our proven business model, cyclical real estate experience and creative, all-in-one approach have led to a unique ability to capitalize on these opportunities and offer outsized returns.”
- Toby Cobb, Co-Founder and Managing Partner of 3650 Capital
