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Churchill Real Estate Sells Stake to Japanese Bank to Grow in US
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Churchill Provides $55 Million Loan on Moreno Valley Multifamily Project
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Core Battles Macklowe, Churchill After Removal from Projects
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Churchill founders Justin Ehrlich and Sorabh Maheshwari. (Churchill)
Churchill Real Estate is known in New York City for betting on distress. Over the past few years, the firm has snapped up troubled loans from overeager or desperate developers that have ended up in hot water.
But the firm is increasingly targeting a more secure product: single-family home loans. And recently, it took a big step in that direction thanks to a direct equity investment from Redwood Trust, a publicly traded REIT that focuses on lending in that sector.
Churchill co-founder Sorabh Maheshwari declined to disclose the amount of the investment. But he said the deal will provide the firm with the funds it needs to expand into new markets such as South Florida, California and possibly Texas. (It already has offices in New York City and Charlotte, North Carolina.) It also plans to expand its single-family rental business.