Archwest Capital announces strategic minority investment by Aspida
IRVINE, Calif .– (COMMERCIAL THREAD) – Archwest Capital, LLC (âArchwest Capitalâ) today announced the completion of a strategic minority investment by Aspida Holdings, LLC (âAspidaâ), an indirect subsidiary of Ares Management Corporation (âAresâ) .
As part of the transaction, Aspida will enter into a flow agreement, whereby Archwest Capital will provide Aspida with senior multi-family and mixed-use assets to help support Aspida’s growth initiatives. The Ares team plans to bring their experience to the acquisition of these first mortgages issued by Archwest Capital and to oversee the ongoing monitoring and follow-up of these investments.
Archwest Capital President and CEO Shawn R. Miller said, âThe continuing shortage of housing supply continues to fuel the need for flexible financing for multi-family and mixed-use properties. Our partnership with Aspida provides Archwest with great balance sheet strength, coupled with credit expertise to provide the capital needed for this cycle. ”
Raj Krishnan, Partner and Chief Investment Officer of Ares Insurance Solutions, added: âThis transaction reflects Ares Insurance Solutions’ commitment to leverage the capabilities of the Ares platform to research and deliver capital efficient solutions for support the growth of Aspida.
About Archwest Capital
Archwest Capital is a nationwide direct commercial lender focused on the multi-family and mixed-use market. Drawing on their experience as bankers, lawyers and entrepreneurs, the founders of Archwest identified opportunities in the real estate finance market at different stages of the economic cycle. Over the past two decades, the founders have created and operated several companies that have managed over $ 8 billion in assets and generated over $ 2.7 billion in business loans, including multi-family leasing, single family and construction (over 5,000 assets). Archwest continues to focus on specific housing needs by offering both bridge funding and ongoing funding, typically between $ 2 million and $ 25 million. Archwest will provide direct capital solutions throughout the development process, from basic rehabilitation to light / heavy rehabilitation to stabilization, in addition to offering flexible permanent financing alternatives to agency products. For more information, please visit www.archwestcapital.com.
Aspida Holdings Ltd. (“Aspida”) is an indirect subsidiary of Ares Management Corporation, which was created to execute the plans of Ares Insurance Solutions to issue insurance and reinsurance products for individuals and institutions seeking to finance their needs. long-term financials. Aspida employs a talented team of experienced insurance professionals who leverage innovation and technological advancements to drive change. Its industry-leading platform is designed to deliver insurance solutions with speed and simplicity, creating elegant digital experiences. With $ 3 billion in assets under management as of June 30, 2021 and supported by a team of more than 100 professionals in the insurance industry, Aspida seeks to be a trusted partner focused on the financial security and success of its clients. . For more information, please visit: www.aspida.com.
About Ares Management Corporation
Ares Management Corporation (NYSE: ARES) is a leading global alternative investment manager providing clients with complementary primary and secondary investment solutions in the asset classes of credit, private equity, real estate. and infrastructure. We seek to provide flexible capital to support businesses and create value for our stakeholders and within our communities. By working with our investment groups, we aim to generate consistent and attractive investment returns throughout market cycles. As of June 30, 2021, including the acquisition of Black Creek Group which closed on July 1, 2021, Ares Management Corporation’s global platform had approximately $ 262 billion in assets under management, with approximately 2,000 employees. operating in North America, Europe, Asia-Pacific and the Middle East. For more information, please visit www.aresmgmt.com. Follow Ares on Twitter @Ares_Management.