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NYC developer Silverstein Properties launching real estate lending venture

NYC developer Silverstein Properties launching real estate lending venture

By Maya Rajamani | The Real Deal

Silverstein Properties is branching out, Bloomberg reported. Silverstein Capital Partners, the company’s real estate lending venture, will dole out loans starting at $25 million for projects ranging from residential to industrial, according to the outlet. Silverstein CEO Marty Burger said the company is partnering with a pension fund and a sovereign wealth fund to finance the venture. “We’re a developer at heart, and we usually do very large projects, and we found that there was just a gap in the financing markets where there were large loans needed for complicated projects,” Burger told the outlet. Silverstein has developed projects including 3 World Trade Center and the Four Seasons Hotel downtown. [TRD]

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