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Archwest Capital Announces Strategic Minority Investment by Aspida
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Rhea-AI Summary
Archwest Capital has completed a strategic minority investment by Aspida Holdings, part of Ares Management Corporation (NYSE: ARES). This partnership will allow Archwest to provide Aspida with multifamily and mixed-use first mortgage assets to support its growth. Ares plans to leverage its expertise in overseeing these investments. The CEO of Archwest noted the ongoing housing supply shortage as a driving factor for this collaboration. Aspida aims to utilize this partnership to enhance its capital-efficient solutions for growth.
Collaboration with Aspida allows Archwest to provide essential capital in the housing sector.
Ares Management's involvement brings expertise in investment oversight.
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IRVINE, Calif.--(BUSINESS WIRE)--
Archwest Capital, LLC (“Archwest Capital”) today announced the completion of a strategic minority investment by Aspida Holdings, LLC (“Aspida”), an indirect subsidiary of Ares Management Corporation (“Ares”).
As part of the transaction, Aspida will enter into a flow agreement, through which Archwest Capital will provide Aspida with multifamily and mixed-use first mortgage assets to help support Aspida’s growth initiatives. The Ares team plans to provide its experience in connection with the acquisition of these first lien mortgages originated by Archwest Capital and overseeing the ongoing surveillance and monitoring of these investments.
Archwest Capital’s chief executive officer, Shawn R. Miller, said: “The perennial housing supply shortage continues to fuel the need for flexible financing of multifamily and mixed-use properties. Our partnership with Aspida provides Archwest with great balance sheet strength, coupled with credit expertise in providing the necessary capital for this cycle.”
Raj Krishnan, partner and chief investment officer of Ares Insurance Solutions, added: “This transaction reflects Ares Insurance Solutions’ commitment to leveraging the capabilities across the Ares platform to source and deliver capital-efficient solutions to support Aspida's growth.”
About Archwest Capital
Archwest Capital is a direct commercial lender focused on the multifamily and mixed-use marketplace nationwide. Building on their experience as bankers, lawyers and entrepreneurs, the founders of Archwest have identified opportunities in the real estate finance market during various stages of the economic cycle. In the past two decades, the founders have created and operated multiple firms that have managed more than $8 billion of assets and originated more than $2.7 billion of business purpose loans including multifamily, single-family rental and construction (more than 5,000 assets). Archwest continues to focus on specific housing needs by offering both bridge and permanent financing, generally between $2 million-$25 million. Archwest will provide direct capital solutions throughout the development process, from ground-up to light/heavy rehab to stabilization, in addition to offering flexible permanent financing alternatives to agency products. For more information, please visit www.archwestcapital.com.
About Aspida
Aspida Holdings Ltd. (“Aspida”) is an indirect subsidiary of Ares Management Corporation, which was created to execute on Ares Insurance Solutions' plans to issue insurance and reinsurance products for individuals and institutions seeking to fund their long-term financial needs. Aspida employs a talented team of experienced insurance professionals who leverage innovation and technological advancement to drive change. Its cutting-edge platform is geared at providing insurance solutions with speed and simplicity, creating elegant digital experiences. With $3 billion in assets under management, as of June 30, 2021, and supported by a team of more than 100 insurance industry professionals, Aspida seeks to be a trusted partner focused on its clients’ financial security and success. For more information, please visit: www.aspida.com.
About Ares Management Corporation
Ares Management Corporation (NYSE:ARES) is a leading global alternative investment manager offering clients complementary primary and secondary investment solutions across the credit, private equity, real estate and infrastructure asset classes. We seek to provide flexible capital to support businesses and create value for our stakeholders and within our communities. By collaborating across our investment groups, we aim to generate consistent and attractive investment returns throughout market cycles. As of June 30, 2021, including the acquisition of Black Creek Group which closed July 1, 2021, Ares Management Corporation's global platform had approximately $262 billion of assets under management, with approximately 2,000 employees operating across North America, Europe, Asia Pacific and the Middle East. For more information, please visit www.aresmgmt.com. Follow Ares on Twitter @Ares_Management.
