July 9, 2020
Los Angeles-based Brasa Capital Management closed its first credit vehicle, Brasa Credit I, LP. The vehicle will now allow Brasa to provide both debt and equity on commercial real estate transactions up to $100 million on behalf of its pension fund investors.
The firm completed its first two transactions of the new vehicle with a $16 million preferred equity investment in a multifamily development in Denver and the acquisition of a $4 million sub-performing note secured by a mixed-use asset in Los Angeles.
Brasa’s Eric Samek says, “The new credit platform will allow us to harness our expertise and our local sponsor network to target high-yield opportunities in markets that we have been operating in for some time to generate attractive risk-adjusted returns,” said.
Greg Galusha (pictured) has joined the firm as managing director from PeerStreet, where he served as Head of Commercial Real Estate. He also previously was a partner at Kearny Real Estate Company and PCCP.
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