White Oak Real Estate Capital Closes Its First Loan Investment

NEW YORK–(BUSINESS WIRE) – White Oak Real Estate Capital (“WOREC”) announced today that it has granted 1784 Capital Holdings a senior secured loan of 28.45 million. The transaction marks the Company’s first loan since WOREC was founded as a subsidiary of White Oak Global Advisors in July 2021.

The warehouse facility will have 97,860 square feet of rentable space and comprise 1,023 units, 89% of which are air-conditioned and the remainder will be highly sought-after drive-up units.

“The self-storage industry has established itself as an essential service for people moving their home or business during the COVID-19 pandemic and has shown remarkable resilience over the past 20 years in the face of the economic downturn,” said Eric Tanjeloff , Managing Principal at White Oak Real Estate Capital. “This first deal confirms our commitment to providing innovative financing solutions for the commercial real estate sector and we are delighted with our robust pipeline of financing opportunities across the industry.”

After the expected construction period of 16 months, WOREC expects the property to benefit from the existing excess demand in the 5-mile area. The self-storage facility will be located at 10 Kellogg Avenue in Goleta, California, along the busy US Highway 101 in Santa Barbara County and in close proximity to the University of California, Santa Barbara, which has approximately 24,300 students.

“Eric Tanjeloff and his talented team at White Oak Real Estate Capital are committed to leveraging their extensive credit capabilities and national reach to deliver competitive financing options and execution security. We have been very pleased with the White Oak experience and look forward to growing the relationship, ”said Shane Albers, CEO and Founder of 1784 Capital Holdings LLC.

About White Oak Real Estate Capital, LLC

White Oak Real Estate Capital, LLC (“WOREC”), a subsidiary of White Oak Global Advisors, LLC, is a commercial real estate lender specializing in developing bespoke financing solutions that are backed by transitional assets. WOREC offers loans across the entire capital structure, from priority loans with priority over mortgage to bridging loans for special situations. The company is headquartered in New York City.

About White Oak Global Advisors

White Oak Global Advisors, LLC (“WOGA”) is a leading alternative debt manager specializing in sourcing and delivering financing solutions to facilitate the growth, refinancing and recapitalization of small and medium-sized businesses. Together with its financing partners, WOGA offers the market over twenty credit products, including term, asset and equipment loans for all economic sectors. Since its inception in 2007, WOGA and its affiliates have invested over $ 9 billion on its product lines using a disciplined investment process that focuses on generating risk-adjusted investment returns for investors while building long-term partnerships with our borrowers. More information is available at www.whiteoaksf.com.

About 1784 Capital Holdings LLC

1784 Capital Holdings LLC is a national developer and owner of self storage. The company’s goal is to develop, build and operate Class A self-storage facilities in the US in large MSAs with high entry barriers.

source https://www.bisayanews.com/2021/09/28/white-oak-real-estate-capital-closes-its-first-loan-investment/