Veleta Capital and funds managed by Oaktree Capital Management announced the formal launch of a strategic joint venture, Veleta Capital Partners, creating a premier institutional lending platform for multifamily and commercial real estate assets. Oaktree has also acquired a minority stake in Veleta Capital.
VCP will focus on quality markets, assets and sponsors, combining Oaktree’s strength in global real estate and credit investment with Veleta Capital’s integrated platform and trusted team of real estate credit and investment professionals. The joint venture will provide short-term, senior secured loans on multifamily and commercial real estate assets. Alternative commercial assets including self-storage, cold storage, medical office properties, data centers, industrial, and warehouse properties are targets in the strategy.
Veleta Capital Partners is targeting 12 to 36-month senior secured transition loans for multifamily and commercial real estate assets of up to $20 million. The firm will initially be focused on Tier I and Tier II submarkets, predominantly in the Western United States, including Southern California, Arizona, Colorado, Nevada, Oregon, Texas, Utah, and Washington and evaluate other opportunistic transactions nationwide.
Read more: Business Wire
