Pender Capital logs strong quarterly activity with significant deal flow and investor interest in Pender Real Estate Credit Fund

LOS ANGELES, May 15, 2024 /PRNewswire/ -- Pender Capital ("Pender"), a provider of short-term, senior secured commercial bridge loans, today announced financing facilities for the first three months of 2024 and listing on a new platform for financial advisors to access the Pender Real Estate Credit Fund, a continuously offered closed-end interval fund focused on private CRE debt.

In the first quarter of 2024, Pender originated three loans totaling $94.9 million. The strong start in 2024 was more than triple the volume in Q42023, and could have been significantly higher, except for capital constraints that caused the Fund to turn away several strong deals with quality assets and sponsorship groups. Notwithstanding these challenges, Pender anticipates origination activity to substantially increase in the near future as it continues to grow. In 2023, Pender originated 15 loans worth $177.7 million.

The Pender Real Estate Credit Fund, the fourth investment vehicle operated by management, was added to the Pershing Advisor Solutions trading platform in the first quarter of 2024. Pershing advisors now have access to an investment that seeks to deliver investors with stable risk-adjusted returns, a favorable and simplified tax structure, and increased investment diversification and capital preservation through real estate related investments. The Fund is also available on the Schwab and Fidelity trading platforms.

"Our outlook remains robust as we progress through the second quarter," noted Cory Johnson, Co-Founder and CEO of Pender. "We anticipate opportunities arising from traditional lending fallout and the maturity of fixed-rate debt. We also anticipate the potential for capturing new valuations in deal flows. With the Fund's AUM steadily growing, we expect more funding avenues to open up throughout 2024."

The Fund, which was launched in April 2023, has $443.7 million in assets as of 3/31/24. It 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.

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 billion in commercial real estate credit, representing more than $1.645 billion in asset value. 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 UMB Distribution Services, LLC and is not affiliated with Pender Capital Management LLC.

SOURCE Pender Capital