MULTIFAMILY INDUSTRY PROS TEAM UP TO LAUNCH NEW BOUTIQUE CAPITAL PROVIDER “ELECTRA CAPITAL”
Electra Capital provides short-term capital solutions and advisory services
to middle-market real estate firms
Palm Beach, Fla. (January 28, 2020) – To meet the steady demand for short-term capital solutions in the multifamily sector, a team of seasoned multifamily real estate executives have teamed up to launch a new boutique capital provider: Electra Capital.
Based in Palm Beach and backed by its affiliation with one of the largest multifamily owner/operators in the country – American Landmark Apartments – Electra Capital provides flexible, short-term multifamily financing solutions, including bridge and mezzanine loans and preferred equity and participating preferred equity investments.
The firm is led by CEO Sam Greenblatt, a multifamily lending veteran, and Joe Lubeck, CEO of American Landmark Apartments, serves as Executive Chairman.
The firm is capable of providing creative financing solutions in the $1 million to $30 million range, with LTV/LTC up to 90 percent. In addition, under its Participating Preferred Equity investments, Electra will provide up to 75% of the equity required in the transaction. The firm will focus on financing multifamily deals within the fast-growing Sun Belt region – states including Arizona, Florida, Georgia, North and South Carolina, Tennessee, Texas and Southern Virginia.
“Transactions fail everyday because traditional lenders are unable to meet a sponsor’s needs,” said Greenblatt. “That is where Electra Capital steps in, leveraging our decades of multifamily expertise and vast relationships in the lending community. Electra’s team of experts in acquisitions, underwriting, structuring and closing enable us to act expeditiously and effectively to meet our client’s needs.”
Greenblatt comes to Electra Capital with over three decades of experience as a lender, broker and sponsor, including over 10 years serving as head of production for RAIT Financial Trust, a capital provider for bridge, mezzanine and preferred equity investments.
Lubeck is an expert in value-added and distressed real estate repositioning. Over the course of his career, Joe has overseen four successful multifamily portfolio builds totaling 100,000 units, with a value in excess of $7 billion. Joe currently serves as the CEO of American Landmark Apartments, one of the fastest-growing multifamily firms in the United States.