GREAT NECK, N.Y., March 3, 2022 /PRNewswire/ -- Sharestates, a
leading real estate technology platform designed to support and
accelerate the redevelopment of residential housing, recently
closed a new $100 Million warehouse
line of credit led by funds managed by the Credit Group of Ares
Management Corporation ("Ares") to capitalize on demand from
borrowers. This additional warehouse capital complements existing
credit facilities and increases the Company's overall borrowing
capacity to better support the Company's growing loan origination
volume.
"With the successful launch of our National Sales Expansion
strategy in Q4-2021, Sharestates has seen early success growing
loan origination volume by over 40% quarter-over-quarter and nearly
double year-over-year for 2021. Our outlook for 2022 remains
optimistic and this new credit facility will help Sharestates
continue to ramp up in support of our aggressive growth targets." -
Stephan Leccese,
COO.
This move is part of the Company's broader expansion strategy
that has recently added additional staff, senior management, an
independent board member, and expanded our geographical presence
across the nation.
With the new debt facility, Sharestates is well-positioned to
continue scaling its loan originations to real estate developers
that purchase, refinance, and rehab single-family residential
properties as well as small to mid-sized multifamily projects
across the country. The company surpassed $3
Billion in total origination volume in 2021 and remains
bullish on residential housing development this year. Sharestates
intends to continue to expand credit for borrowers and manage
credit risk while also expanding access to residential real estate
debt for its investors.
"We are excited to work with Ares as our origination volume
grows to fill the void in real estate financing left by traditional
bank lenders. We appreciate Ares' support as we scale our business
to meet the increasing capital demand from our borrowers." - Allen
Shayanfekr, CEO.
About Sharestates
Sharestates is one of the fastest-growing national private
lenders focused on non-owner-occupied residential and commercial
properties. The company creates customized lending solutions for
real estate investors and developers. Sharestates has successfully
funded over $3 billion in projects
nationwide and has the broadest loan programs available in the
market with competitive pricing.
Sharestates funds loans from $100k
to $20mm on residential (SFR 1-4),
multi-family, mixed-use, and commercial properties. Its loan
programs include residential bridge, fix & flip, new
construction, portfolio, and rental loans. As a partner to its
developers, Sharestates manages the servicing of all loans it
originates through successful repayment to ensure the needs of its
developers are met throughout the loan lifecycle.
Sharestates was founded by real estate veterans and its success
is attributed to a strong leadership team, ease of use, sensible
underwriting practices, and a relationship-focused lending
strategy. Sharestates partners with direct borrowers and
brokers.
Sharestates is one of many related real estate businesses
managed by the executive team that exists to accelerate the
redevelopment of residential housing. Collectively, the unique
capability of each related business allows Sharestates to provide
an end-to-end solution for its customers. In doing so, it creates a
more positive borrower experience, better controls credit risk, and
successfully monitors the loan through its entire lifecycle.
To learn more visit www.Sharestates.com.
About Ares Management Corporation
Ares Management Corporation (NYSE: ARES) is a leading global
alternative investment manager offering clients complementary
primary and secondary investment solutions across the credit,
private equity, real estate, and infrastructure asset classes. We
seek to provide flexible capital to support businesses and create
value for our stakeholders and within our communities. By
collaborating across our investment groups, we aim to generate
consistent and attractive investment returns throughout market
cycles. As of December 31, 2021, Ares
Management Corporation's global platform had approximately
$306 billion of assets under
management, with approximately 2,100 employees operating across
North America, Europe, Asia
Pacific, and the Middle
East. For more information, please visit
www.aresmgmt.com.
About Alternative Credit
Ares' Alternative Credit strategy focuses on lending to and
investing in assets that generate contractual cash flows and fills
gaps in the capital markets between credit, private equity and real
estate. Ares Alternative Credit targets investments across the
capital structure in specialty finance, lender finance, loan
portfolios, equipment leasing, structured products, net lease, cash
flow streams (royalties, licensing, management fees), and other
asset-focused investments. Co-Headed by Keith Ashton and Joel
Holsinger, Ares Alternative Credit leverages a broadly
skilled and cohesive team of approximately 50 investment
professionals as of December 31,
2021. Aligning Ares' investment activities with its societal
impact, Ares and Alternative Credit portfolio managers have
committed to donating a portion of carried interest from certain
Alternative Credit funds to global health and education
charities.
Media Contact:
Justin Peterson
SVP of Marketing
212-201-0750
justin@sharestatesmail.com
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SOURCE Sharestates