Ease Capital, a tech-enabled multi-family lender, founded by a group of CRE PropTech veterans, has announced a $450m partnership with Taconic Capital Advisors.
he collaboration between Ease Capital and Taconic aims to address the challenges faced by borrowers within the multifamily property market, particularly concerning limited financing options. With traditional financial sources like banks and credit unions pulling back, the partnership strives to bridge this gap by offering tailored financing solutions.
Taconic will join forces with Ease to provide borrowers with bridge and bridge-to-permanent multifamily financing solutions within the $5 – $35m range.
Ease’s recent launch of a direct lending platform targeted at supporting borrowers encountering restricted financing options sets the stage for this $450m partnership, which aims to address the pressing challenges stemming from falling valuations and rising interest rates in the multifamily property market.
The partnership aligns with Ease’s previous achievements, including raising $8.5m in seed funding from key players in the Fintech, Proptech, and Insurtech sectors like Brewer Lane, NineFour Ventures, Cambrian, Vera, and Mischief.
The firm is led by Charlie Oshman, Memo Sanchez, and Ryan Simonetti, stands as a technology-driven multifamily lender. Leveraging their expertise in Proptech, the trio focus on offering borrowers creative financing options and ensuring certainty of execution through proprietary risk assessment systems.
Ryan Simonetti, Chairman of Ease Capital, said, “Traditional financial sources like banks and credit unions have pulled back, leaving borrowers to grapple with the issues arising from falling valuations and rising interest rate. We are witnessing the most challenging real estate financing environment since the Global Financial Crisis. Ease Capital was created to alleviate the distinct pressures these borrowers face and provide them with the financing solutions they need to execute their business plans.”
Charlie Oshman, CEO of Ease Capital, said, “75% of transitional loans in the sub $30.0 million lending segment don’t close on the initially agreed upon terms between borrower and lender because the underwriting is done post application. At Ease, our data system, comparable engine and proprietary risk-assessment system allows us and our partners at Taconic to do a comprehensive underwriting of every deal before a quote is ever sent, dramatically increasing the certainty of execution for our borrowers.”
James Jordan, Portfolio Manager at Taconic, said, “Ease’s impressive tech, easy-to-use interface and service-driven approach with borrowers positioned them as the perfect partner to scale our direct multifamily lending investments. Given the dislocation in the market and elevated maturities over the next 24 months, we see a massive opportunity to deploy capital in multifamily private credit and believe that more and more, commercial real-estate lending will be done by non-bank originators.”
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