BHI Provides a $40 Million Capital Call Line to Debt Fund Managed by Real Estate Private Equity Firm Northwind Group
April 16, 2024
Source: BHI
NEW YORK, April 2024 – BHI, a full-service commercial bank, today announced it has issued a $40 million capital call line facility to Northwind Debt Fund II, a closed ended CRE debt fund managed by Northwind Group, a real estate private equity firm that has transacted on over $4 billion worth of debt and equity investments in residential, commercial, senior living and healthcare properties.
“While amassing a considerable portfolio of assets across residential, commercial, senior living, and healthcare properties, Northwind Group has consistently demonstrated disciplined balance sheet management that generates strong risk-adjusted returns,” said Gil Karni, Chief Executive Officer of BHI. “We’re thrilled to further our partnership and provide Northwind’s debt fund with additional capacity to execute upon ever-present opportunities in the debt market.”
Northwind Group was founded in 2008 by Ran Eliasaf and is actively investing in multiple strategies through close-ended funds, SMAs, Private REITs, and SPEs. In 2017, Northwind evolved into a debt fund manager that focuses on whole loan bridge lending secured by commercial real estate via Northwind Debt Funds I & II, originating $1.6B in loans secured by 45 properties. In addition, Northwind provides bridge to HUD loans secured by income producing portfolios of skilled nursing and senior living properties via Northwind Healthcare Debt Funds I & II, with current collateral portfolio of over 170 properties totaling over 19,000 beds/units across 19 states.
“Our credit strategy has grown tremendously over the last seven years as we have become one of the more active lenders in our space and this line will help us further streamline operations as our funds near full deployment,” said Ran Eliasaf, Managing Partner and Founder of Northwind Group. “We prioritize honesty, transparency, and integrity in all phases of our operations and are proud to work alongside a banking partner like BHI that upholds those principles and partners with us to help us continually grow and scale our business.”
About BHI
BHI, the U.S division of Bank Hapoalim, Israel's leading financial institution, provides commercial banking solutions to middle market clients in sectors including commercial real estate; general, domestic and Israeli C&I; private equity; food and beverage; apparel; healthcare; corporate banking; and high-tech. In addition to its New York headquarters, the bank operates U.S. Representative Offices in Woodcliff Lake, New Jersey; Miami, Florida; and Los Angeles, California. For more information, visit www.bhiusa.com.
About Northwind Group
Northwind Group, founded in 2008 by Ran Eliasaf, is a Manhattan based real estate private equity firm with $3 billion in AUM that invests primarily in debt instruments through its discretionary closed-ended debt funds. For further information, go to www.northwind-group.com.