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Press release content from Business Wire. The AP news staff was not involved in its creation.
PRESS RELEASE: Paid content from Business Wire
Press release content from Business Wire. The AP news staff was not involved in its creation.

Urbanite Capital, LLC Announces the Full Repayment and Closing of its GCM Fund

November 5, 2021 GMT

SAN FRANCISCO--(BUSINESS WIRE)--Nov 5, 2021--

Urbanite Capital, LLC (“Urbanite”), a leading real estate credit firm headquartered in San Francisco, has announced that it is closing its GCM Fund, which successfully provided capital over the past three years across eight real estate loans. Launched in 2018, the GCM Fund focused on investing in senior and mezzanine debt primarily for multi-family and mixed-use developments. All investors were fully repaid this month.

“The success of our GCM Fund is an exciting achievement for Urbanite,” said Mark Jorgensen, Managing Partner of Urbanite. “The GCM Fund provided clients with portfolio diversification, a stable return, and full repayment of principal through investments in high-quality real estate projects.”

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Founded in 2014, Urbanite seeks attractive investment opportunities to deliver diversified risk adjusted returns from real estate throughout the United States. As a result of regulatory restrictions imposed by Basel III, CCAR, and Dodd-Frank following the 2008 financial crisis, Urbanite launched its credit fund platform in 2017 to fill a funding gap left by traditional bank lenders by providing private capital to real estate projects. Urbanite is well-positioned to address the large market opportunity for highly structured real estate loans.

Please visit www.urbanitecapital.com/ for additional information.

View source version on businesswire.com:https://www.businesswire.com/news/home/20211105005090/en/

CONTACT: Urbanite Capital

Mark Jorgensen

+1 (415) 986-8888

info@urbanitecapital.com

KEYWORD: CALIFORNIA UNITED STATES NORTH AMERICA

INDUSTRY KEYWORD: PROFESSIONAL SERVICES RESIDENTIAL BUILDING & REAL ESTATE COMMERCIAL BUILDING & REAL ESTATE FINANCE CONSTRUCTION & PROPERTY CONSULTING BANKING

SOURCE: Urbanite Capital, LLC

Copyright Business Wire 2021.

PUB: 11/05/2021 10:00 AM/DISC: 11/05/2021 10:01 AM

http://www.businesswire.com/news/home/20211105005090/en