LOS ANGELES, Feb. 24, 2025 /PRNewswire/ — Pender Capital (“Pender”), a provider specializing in short-term, senior secured commercial bridge loans, today announced that the Pender Capital Real Estate Fund closed 2024 in a strong position with 37 active loans totaling $504.1 million, against an estimated value of $833.5 million, representing a portfolio average loan to value of 62.39%.
In Q4 of 2024 Pender received 193 requests for financing totaling $2.9 billion dollars with the quality of submissions continuing to trend upward. The Fund’s origination activity remained strong, closing on two transactions totaling $11 million. Additionally, there were no missed payments, delinquent loans, defaulted loans or loans referred to foreclosure.
“We believe funding numbers would have been significantly higher, if it were not for current capital constraints causing the Fund to turn away several strong deals with quality assets and sponsorship groups,” said Cory Johnson, CEO at Pender Capital. “Notwithstanding these challenges, the Fund anticipates origination activity to substantially increase in the near future as it continues to grow.”
Pender Capital closed 15 loans in 2024, totaling $245.4 million.
The Pender Real Estate Credit Fund, launched in April of 2023, was added to several advisor trading platforms in 2024, including Pershing Advisor Solutions, Schwab and Fidelity.
The Fund aims to capitalize on a ripe investment environment spurred by a reduction in lending options coupled with increased borrower demand for short-term loans. The Fund’s objective is to originate lower middle market short-term bridge loans that are secured by senior position collateral in commercial real estate assets across the Sunbelt, and other key “flyover” regions of the U.S.
With a $2,500 investment minimum and no accreditation requirements, the closed-end interval fund structure is attracting capital from new participants, such as wealth management and financial advisors, who are now able to allocate with lower minimum thresholds. The Fund is also available on the Schwab and Fidelity trading platforms.
About Pender Capital
Pender Capital (“Pender”) is a niche investment manager dedicated solely to commercial real estate credit-based opportunities. Pender offers capital solutions to borrowers investing in or owning properties with equity protection while providing investors with attractive risk-adjusted returns. The firm is owned and operated by a team of seasoned commercial real estate professionals with hands-on real estate experience, credit skills, and sophisticated investment banking expertise. Pender has originated approximately $1.37 billion in commercial real estate credit, representing more than $2.23 billion in asset value as of December 2024. Learn more at https://www.pendercapital.com/.
IMPORTANT INFORMATION- Pender Real Estate Credit Fund
This material is published as assistance for recipients but does not constitute investment advice and is not to be relied upon as authoritative nor to be substituted for one’s own judgment. This information is not a recommendation to purchase or sell a security or follow any strategy or allocation. Before making any investment decision, you should seek expert, professional advice and obtain information regarding the risks, liquidity, legal, and regulatory limitations for the fund.
BEFORE INVESTING YOU SHOULD CAREFULLY CONSIDER THE FUND’S INVESTMENT OBJECTIVES, RISKS, CHARGES AND EXPENSES. THIS AND OTHER INFORMATION IS IN THE PROSPECTUS, A COPY OF WHICH MAY BE OBTAINED FROM PENDER CAPITAL AT 310-853-8001. PLEASE READ THE PROSPECTUS CAREFULLY BEFORE YOU INVEST.
The Shares are speculative and illiquid securities involving substantial risk of loss. An investment in the Fund is appropriate only for those investors who do not require a liquid investment, for whom an investment in the Fund does not constitute a complete investment program, and who fully understand and can assume the risks of an investment in the Fund.
Investors should carefully review and consider potential risks before investing. The Fund has been organized as a non-diversified, closed-end management investment company and designed primarily for long-term investors. An investor should not invest in the Fund if the investor needs a liquid investment. The Fund could experience fluctuations in its performance due to several factors. As a result of these factors, results for any previous period should not be relied upon as being indicative of performance in future periods.
Pender Real Estate Credit Fund is distributed by Distribution Services, LLC which is not affiliated with Pender Capital Management LLC or any other entity discussed.
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SOURCE Pender Capital Management, LLC
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