CHICAGO and HOUSTON, Dec. 01, 2023 — Stablewood, a national, multi-strategy real estate operator powered by its proprietary technology, announced a new investment venture with funds managed by GCM Grosvenor, a leading global alternative asset management solutions provider. The venture will provide construction financing to experienced developers of shovel-ready, single-tenant-net-lease (STNL) retail projects secured by long-term leases with creditworthy tenants. In addition to providing up to 100% of the capital required for projects, the Stablewood-GCM Grosvenor venture also offers developers an optional forward purchase.
“We are thrilled to be expanding the Developer Capital Platform at a time when demand for new stores among national retail tenants remains high, and the supply of capital to developers is historically low,” said Brandon Taubman, Chief Strategy Officer, at Stablewood. Mike Dailey, Head of Developer Capital for Stablewood, added, “our deal pipeline is robust. We are building on our existing relationships with best-in-class developers to grow our portfolio of loans on quality development projects across the country. This program allows developers to continue to deliver for their tenants during these volatile times while reducing their risks on the sale of their completed projects.”
Stablewood recently closed a deal to fund the development of a 7-Eleven located in the heart of downtown Austin, Texas with interstate access. The site will offer convenience and gas to customers. It is being developed by a preferred developer of 7-Eleven who has successfully developed twelve stores across Texas.
Peter Braffman, Managing Director at GCM Grosvenor, said “we are excited and fortunate to partner with Stablewood to finance STNL retail development projects across the U.S. The Stablewood team’s prior experience investing in STNL retail at scale and its unique technology has the potential to create meaningful opportunities for our investors.”
Stablewood is a national real estate operator that utilizes AI and proprietary technology to invest in non-institutional assets at scale. Stablewood was founded in 2020 by renowned real estate investor Glenn Lowenstein, previously CIO of Hines and CEO of Lionstone. Stablewood has four real estate operating companies spanning asset classes, the first of which is its STNL Retail Acquisitions Platform, which has successfully invested $350 million in STNL Retail assets.
About GCM Grosvenor
GCM Grosvenor (Nasdaq: GCMG) is a global alternative asset management solutions provider with approximately $76 billion in assets under management across private equity, infrastructure, real estate, credit, and absolute return investment strategies. The firm has specialized in alternatives for more than 50 years and is dedicated to delivering value for clients by leveraging its cross-asset class and flexible investment platform.
GCM Grosvenor’s experienced team of approximately 540 professionals serves a global client base of institutional and individual investors. The firm is headquartered in Chicago, with offices in New York, Toronto, London, Frankfurt, Tokyo, Hong Kong, Seoul and Sydney. For more information, visit: www.gcmgrosvenor.com.