SAN FRANCISCO — ACORE Capital, a real estate finance company, announced that Delphi Financial Group has increased its initial $1.6 billion capital commitment to a new total of $2.8 billion. ACORE expects to use the capital by the end of the second quarter of 2016.
“The size of Delphi’s increase in committed capital is a clear and strong endorsement of the attractive risk adjusted returns that ACORE is delivering, its thorough credit and underwriting processes and the quality of its servicing and asset management,” said Boyd Fellows, one of ACORE’s four Managing Partners.
With this increased capital commitment, ACORE will continue to originate, acquire and manage first mortgages, B-notes, mezzanine debt and preferred equity throughout the U.S. To date, ACORE has closed or executed agreements to fund or acquire more than 47 loans for approximately $2.9 billion, establishing itself as a major and reliable source of floating rate bridge capital covering all commercial real estate asset types.
“We continue to see attractive financing opportunities and believe our competitive advantages as a balance sheet lender originating loans nationally have become even more valuable in the current environment,” said Warren de Haan, one of ACORE’s four Managing Partners.
ACORE, which focuses on generating alpha through attractive commercial real estate debt investments, operates offices in San Francisco, Los Angeles, New York City and Dallas and employs a highly experienced team of more than 40 commercial real estate professionals. Commercial Observer, a leading industry trade publication, recently recognized ACORE’s four Managing Partners on its annual list of the ‘Top 50 Most Important Figures of Commercial Real Estate Finance’.