Investment firms Affinius Capital LLC and Axonic Capital LLC have formed a partnership to deliver first-mortgage financing for mid-market development projects within the industrial, multi-family and self-storage sectors. The new relationship will expand on the firms’ existing collaboration, combining Axonic’s advisory and investment capabilities with Affinius’ network and sourcing capabilities in the construction industry, according to a source.
Affinius and Axonic recently announced their first partnership deal, a $47.8 million loan to finance the development of a 217,000-square-foot industrial and self-storage property in Quogue, New York. All projects are funded through Axonic’s insurance platform, the source reported.
“We have been seeking the right partner to help fill what we perceive to be a gap in the market for construction loans in the middle-market space,” said Michael Lavipour, senior managing director and head of lending for Affinius. “Combining our construction lending infrastructure and sourcing capabilities, which we have spent the last decade-plus building, with Axonic’s flexible insurance capital, we create a powerful partnership that positions us to be extremely active in this space going forward.”
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“Axonic’s expertise in developing agile financing structures is a natural match with Affinius’ strong presence in construction lending,” said Matt Weinstein, co-chief investment officer for Axonic. “We’re able to deliver creative, flexible financing solutions to an area of the middle market that is showing strong signs of opportunity, and we look forward to scaling this platform together.”
Founded in 1982, San Antonio-based Affinius provides credit and equity with a focus on value creation and income generation. It has $62 billion in gross assets under management across Europe and North America.
Founded in 2010, New York-based Axonic specializes in commercial real estate debt and equity, providing financing solutions across all major asset classes throughout the U.S., with a focus on the multi-family sector. It has more than $6.5 billion in assets under management.
Source: BusinessWire, Affinius Capital and Axonic Capital Announce Strategic Partnership
ISS Staff
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