NEW YORK--(BUSINESS WIRE)--RXR, a leading owner, operator, and developer of real estate, with a proven history in structured finance investment, and Hudson Reality Capital (Hudson), a fully integrated commercial real estate lender with broad experience in origination, due diligence, capital markets, and asset management, announced the formation of RXR-Hudson, a strategic lending platform designed to achieve risk-adjusted returns through direct commercial real estate lending across major markets throughout the United States.
Building on the companies’ strong 25-year track record, RXR-Hudson encapsulates RXR’s deep experience in operating, developing, and constructing complex real estate projects, while adding a unique value element to Hudson’s current lending platform. Over the next several years, RXR-Hudson anticipates lending more than $2 billion in sectors experiencing strong investor demand and demographic tailwinds, such as housing, industrial, and healthcare-related industries.
“As RXR continues its national expansion into other major markets, RXR-Hudson is well equipped to capitalize on the rapidly evolving trends coming out of the pandemic,” said Scott Rechler, Chairman and CEO of RXR. “Hudson’s national origination network and expertise in real estate finance combined with RXR’s multi-disciplined franchise will enable RXR-Hudson to source and execute on a robust pipeline of opportunities in its targeted loan space.”
RXR-Hudson will originate traditional loans including bridge, mezzanine or preferred equity-type investments to facilitate the acquisition, construction or recapitalization of real estate assets. The platform will also direct a portion of investments towards Opportunity Zones, sustainability initiatives, and minority and women-owned businesses.
David Loo, Hudson’s Co-Founder and Managing Partner added: “Our launch of RXR-Hudson marks another milestone for us as a company, building off what was a banner year in 2021. As we continue to see tremendous opportunities in the marketplace, we look forward to collaborating with RXR and its visionary leadership team to accelerate our growth.”
RXR-Hudson will leverage corporate synergies with uniquely compatible real estate and credit skill sets to create a nationwide commercial real estate debt platform. Both companies have decades of experience and are comprised of experienced teams with proven track records and expertise in real estate financing. To supplement the team, Jason Kirschner, Managing Director of Finance and Capital has been hired to focus on scaling the RXR-Hudson debt portfolio. Kirschner was formerly Senior Vice President of Finance and Capital Markets at Brookfield Property Partners, where he was responsible for a debt portfolio of more than $20 billion for office, multifamily, hotel and development properties.
About RXR
RXR is an innovative investor, developer and place-maker committed to applying a customer and community-centered approach to building properties, services, and products that create enduring value for all stakeholders. Headquartered in New York with a national platform strategy, RXR is a 500+ person, vertically integrated operating and development company with expertise in a wide array of value creation activities, including ground up real estate, infrastructure, and industrial development, uncovering value in underperforming properties, repurposing well-located iconic properties, incorporating cutting edge technologies and value-added lending. The RXR platform manages 84 commercial real estate properties and investments with an aggregate gross asset value of $22.4 billion, comprising approximately 30.3 million square feet of commercial properties, a multi-family residential portfolio of approximately 6,900 units under operation or development, and control of development rights for an additional approximately 2,900 multi-family and for-sale units.
About Hudson Realty Capital
Hudson Realty Capital is a New York City-based minority-owned commercial real estate investment management firm that provides mid-market deal sponsors throughout the U.S. with financial solutions up and down the capital stack. Known for its hands-on approach and unique ability to quickly adapt to shifts in the market, Hudson’s team of seasoned real estate investment professionals possess a broad range of experience in debt origination, distressed debt analysis and work-out, due diligence, securitization, asset management, loan servicing, and disposition. Since its inception in 2003, the company has invested in transactions totaling more than $4.5 billion in aggregate value across the multifamily, office, industrial, retail, mixed-use and hospitality sectors.
