Slate Property Group closes $1 billion Separately Managed Account focused on low-leverage senior secured residential loans
Manhattan, NY Slate Property Group closed on a new Separately Managed Account (SMA) with up to $1 billion of capital dedicated to sourcing and originating lower-leverage senior-secured residential construction and bridge loans.
The SMA expands and diversifies Slate’s available debt offerings by providing additional leverage and pricing options, strengthening borrower relationships and broadening its market reach. Loans for residential developments in high-growth, transit-oriented East Coast markets will be the SMA’s primary focus.
“The new SMA complements and further diversifies our range of loan offerings across the capital stack and is a logical next step in our company’s continued evolution,” said Martin Nussbaum, co-founder and principal of Slate Property Group. “With this additional offering on the debt side, we look forward to being able to serve even more borrowers and continuing to catalyze new residential growth.”
The SMA’s inaugural investment was a $45 million senior-secured construction loan for a new residential project located at 264-272 West 135th St. in Harlem, New York. The loan, which closed in July, is helping to fund the ground-up construction of an 11-story, 72-unit building by Mass Development.
Slate’s platform pairs deep in-house expertise across credit, valuation, development, construction and property management with independent, best-in-class third-party professionals in environmental review, construction monitoring, loan servicing, legal and zoning. This combination ensures rigorous underwriting, objective oversight and the ability to execute with confidence.