NEW YORK--(BUSINESS WIRE)--Maverick Real Estate Partners LLC (“Maverick”) closed Maverick Lien Fund VII LP (the “Fund”), with commitments of $232.4 million from pension funds, endowments, foundations, and family offices. The Fund’s strategy is to invest in distressed real estate credit opportunities within New York City. This is Maverick’s seventh flagship fund focused on this core strategy.
“There is $520 billion of commercial real estate debt in New York City, and we estimate that over 20% of it is sub or non-performing. The immense opportunity set gives us conviction that our disciplined approach will lead to significant outperformance”, said Ted Martell, Co-Founder and Managing Partner of Maverick.
“Our edge comes from how we use data to source and analyze investment opportunities”, said David Aviram, Co-Founder and Managing Partner of Maverick.
“We published a detailed analysis on Signature Bank’s opaque CRE portfolio within days of their failure, which put us in the center of the largest loan sale in history.” Maverick later went on to purchase $247 million worth of Signature Bank CRE loans in a joint venture between the Fund and Maverick’s predecessor flagship vehicle. “We add value to banks and private lenders by providing them with unique portfolio insights and strategies, and then deploy our capital to solve lenders’ specific liquidity needs”, said David.
About Maverick Real Estate Partners
Maverick Real Estate Partners is a New York based investment manager who specializes in distressed debt secured by commercial real estate. Founded in 2010 by David Aviram and Ted Martell, Maverick invests through a series of institutionally backed private equity fund vehicles. Maverick has deployed over $1.1 billion in over 200 distressed debt transactions, making it the most active distressed debt investor in the New York City real estate market.
