RXR, a leading owner, operator, and developer of real estate, with a proven history in structured finance investment, and Hudson Reality Capital (Hudson), a fully integrated commercial real estate lender with broad experience in origination, due diligence, capital markets, and asset management, announced the formation of RXR-Hudson, a strategic lending platform designed to achieve risk-adjusted returns through direct commercial real estate lending across major markets throughout the United States.
Building on the companies’ strong 25-year track record, RXR-Hudson encapsulates RXR’s deep experience in operating, developing, and constructing complex real estate projects, while adding a unique value element to Hudson’s current lending platform. Over the next several years, RXR-Hudson anticipates lending more than $2 billion in sectors experiencing strong investor demand and demographic tailwinds, such as housing, industrial, and healthcare-related industries.
“As RXR continues its national expansion into other major markets, RXR-Hudson is well equipped to capitalize on the rapidly evolving trends coming out of the pandemic,” said Scott Rechler, Chairman and CEO of RXR. “Hudson’s national origination network and expertise in real estate finance combined with RXR’s multi-disciplined franchise will enable RXR-Hudson to source and execute on a robust pipeline of opportunities in its targeted loan space.”
RXR-Hudson will originate traditional loans including bridge, mezzanine or preferred equity-type investments to facilitate the acquisition, construction or recapitalization of real estate assets. The platform will also direct a portion of investments towards Opportunity Zones, sustainability initiatives, and minority and women-owned businesses.
David Loo, Hudson’s Co-Founder and Managing Partner added: “Our launch of RXR-Hudson marks another milestone for us as a company, building off what was a banner year in 2021. As we continue to see tremendous opportunities in the marketplace, we look forward to collaborating with RXR and its visionary leadership team to accelerate our growth.”
RXR-Hudson will leverage corporate synergies with uniquely compatible real estate and credit skill sets to create a nationwide commercial real estate debt platform. Both companies have decades of experience and are comprised of experienced teams with proven track records and expertise in real estate financing. To supplement the team, Jason Kirschner, Managing Director of Finance and Capital has been hired to focus on scaling the RXR-Hudson debt portfolio. Kirschner was formerly Senior Vice President of Finance and Capital Markets at Brookfield Property Partners, where he was responsible for a debt portfolio of more than $20 billion for office, multifamily, hotel and development properties.