Related Companies and Highbridge Principal Strategies teamed up to create a joint venture, each investing a total of $800 million in the enterprise. The joint venture is targeted on real estate projects in transition located within the United States. Highbridge is a private investment and multinational credit company. Related is a private investment firm with focus on the real estate sector.
Real estate investment expert Brian Sedrish will join the joint venture as a Managing Director. He will also serve as the manager of the venture's portfolio for the platform, evaluating the investment opportunities in mezzanine loans, first line mortgages and preferred equity positions. The joint venture will also focus on re-development, fresh constructions, and conversion projects.
The joint venture plans on sourcing opportunities to invest in the country, targeting gateway cities such as Washington D.C., New York, Chicago, Boston, Los Angeles, San Francisco, and Miami.
"We look forward to partnering with HPS and combining our extensive real estate experience and access to deal flow with their extensive mezzanine credit experience to invest in financing opportunities secured by all property types throughout the country," according to Justin Metz, Managing Principal of Related's subsidiary Related Fund Management.
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