Hunter Street and Rice Park Capital Extend Residential Loan Investment Platform with Asset Loan Acquisition
MINNEAPOLIS, December 21, 2021 / PRNewswire / – Hunter Street Partners (“Hunter Street”), a Minneapolisalternative investment management company, is pleased to announce that it has partnered with Rice Park Capital Management (“Rice Park”) to acquire Asset Based Lending, LLC (“ABL”), leveraging a residential loan investment platform launched by the two companies Last year.
ABL provides real estate investors with access to liquidity through real estate investor loan programs. Borrowers use the loans to finance business activities, including repair and turnaround projects, new construction, and term loan products for unoccupied properties. Hunter Street and Rice Park will support ABL’s growth, while integrating ABL’s existing loan portfolio and origination capabilities into its broader residential loan investment platform.
“We are seeing secular favorable winds for single-family homes and we look forward to working with Rice Park and the ABL management team to scale up creative efforts,” said Neal johnson, CEO and CIO at Hunter Street.
“The investment from Hunter Street and Rice Park allows us to attract new borrowers by providing them with cheaper and more efficient financing. in our market niche so that we can benefit from their expertise for additional added value, ”said Kevin rodman, CEO of ABL.
“ABL is a perfect extension of our residential loan investment platform, and we see tremendous synergy opportunities as we develop a leading platform in this industry. We look forward to working with the ABL team alongside Hunter Street as they continue to grow their business. ” noted Nicolas smith, Founder, CEO and Co-CIO of Rice Park.
ABL will continue to operate under the same name and its core management team will remain in place, with Kevin rodman as CEO and Daniel Leyde as COO.
Piper sandler & Co. was ABL’s exclusive financial advisor for this transaction.
About Hunter Street Partners
Hunter Street Partners is a MinneapolisAn alternative investment management firm that provides capital solutions to teams of operational partners and lower middle market companies in the areas of corporate finance, real estate and specialty finance. The company focuses on fundamentals and asset oriented credit and equity opportunities. Learn more about Hunter Street Partners at www.hunterst.com
About Rice Park Capital Management
Rice Park Capital Management LP is a private investment firm that manages funds and vehicles on behalf of institutional investors, family offices and high net worth individuals. Its investment objective is to provide cycle-resistant returns to its limited partners by unlocking value in complex opportunities in the residential and commercial mortgage and real estate industries. Learn more about Rice Park at www.riceparkcapital.com.
About asset loans
Established in 2010, Asset Based Lending, LLC is a lender that provides rapid bridge financing to real estate investors for the purchase, renovation or new construction of single-family, multi-family and mixed-use properties. The company lends in 13 states and Washington DC and has closed loans where the total transaction amount exceeds $ 1 billion. For more information visit https://www.abl1.net/.
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SOURCE Hunter Street Partners