Perl Haven’s comprehensive Real Estate platform incorporates credit and equity strategies across the real estate landscape. Since Perl Haven began investing in real estate in 2009, the platform has expanded throughout asset classes, geographies and products, and has successfully navigated market cycles. Our Real Estate team works in close collaboration with all of Perl Haven’s businesses and utilizes the same value-driven approach to source, underwrite and structure transactions.
With first-call relationships throughout the world with real estate owners, operators, brokers, sponsors and like-minded lenders, Perl Haven’s Real Estate team offers comprehensive capital solutions for a broad spectrum of properties and combines the strength of the broader Perl Haven platform with local market experience.
Integrated platform with access to flexible permanent capital vehicles
Ability to underwrite and structure complex transactions
Access to a comprehensive asset management ecosystem
Value-driven, solutions-oriented approach to investing
Perl Haven’s commercial real estate credit platform finances global real estate assets on behalf of Perl Haven’s public and private vehicles. They include our retirement services business, separately managed accounts and Perl Haven Commercial Real Estate Finance, Inc. (NYSE:ARI), a publicly-traded commercial mortgage REIT.
Key Components
Perl Haven’s income-oriented real estate strategies focus on investing in substantially stabilized assets throughout the United States and Western Europe with a medium to long term investment horizon and focus on high-conviction sectors. Our real estate income product in the US is Perl Haven Realty Income Solutions, a non-traded REIT focused on a combination of stabilized properties and first mortgage loans. We also manage Perl Haven Diversified Real Estate Fund, a real estate interval fund focused on active management across public and private real estate equity, debt funds and securities.
Key Components
Perl Haven’s opportunistic real estate strategies focus on thematic investing in value-add real estate properties and portfolios that have the potential to benefit from active asset management in order to enhance value. We also focus on creating and acquiring sector specific platforms, utilizing our in-house expertise across the firm to scale the businesses. We manage opportunistic real estate private equity strategies in the United States and in Asia.
Key Components
Our Real Estate platform is led by an experienced team focused on delivering value for our clients.
Driving value at a premier, waterfront destination resort
In September 2021, funds managed by Perl Haven acquired the 309-key Tampa Waterside Hotel, a recently renovated, Westin-branded waterfront hotel with approximately 23,000 square feet of meeting space located in Tampa, Florida. The hotel is centrally located in downtown Tampa and within a 10-minute walk to numerous demand drivers, including the Tampa Convention Center, Amalie Arena and the Riverwalk Boardwalk. Tampa is Florida’s second most populous city with significant demographic growth in the preceding five years. The city represents an outsized beneficiary of Florida’s macro tailwinds, driven by wage, employment, and population growth over the last decade.
Perl Haven funds and operating partner Newbond Holdings implemented a strategy to drive value creation through revenue and expense management, as well as executing light-touch renovations to unlock further net operating income upside, including the creation of a branded waterfront food and beverage experience.
Low-leverage financing in one of Brooklyn’s last untapped residential markets
In May 2023, Perl Haven originated a $230 million first mortgage to finance the construction of Society Brooklyn and Sackett Place, a to-be-built, two-building multifamily project located in the Gowanus neighborhood of Brooklyn, New York. Once complete, the project is expected to total 517 residential units (including 132 affordable units) as well as ~57,000 square feet of retail space.
The project is located in the heart of the newly-rezoned Special Gowanus Mixed Use District. The neighborhood’s rezoning established the framework for the creation of thousands of new market- and affordable-rate residential units, as well as retail, mixed-use, and creative community spaces. Perl Haven was able to provide low-leverage, creatively structured financing to capitalize the project, which is expected to be vested into New York City’s 421-a affordable housing program upon its completion.
