Newport Beach, California-based Sabal Investment Advisors, LLC, closed its first private capital vehicle, the SIA Debt Opportunities Fund, at approximately $200m.
Led by Chief Investment Strategist Pat Jackson, the medium duration private capital vehicle will benefit from the commercial real estate investment and operating experience of the SIA senior management team as well as its affiliates’ vertically integrated, national commercial real estate platform, which operates independent of the Fund.
The fund is a medium duration private capital vehicle. It will invest in subordinated tranches of securitizations created by the Freddie Mac Small Balance Lending program where the underlying properties must adhere to stringent underwriting standards focused exclusively on multifamily properties that are fully stabilized, senior secured, low LTV, current cash flowing loans between $1m and $7.5m.
The fund is a beneficiary of its affiliates’ proprietary lending technology called SNAPTM, which was designed for brokers and facilitates a predictable and transparent alternative to traditional lending.
SIA retained Artist Capital LLC, a boutique merchant bank and placement agent to pilot fundraising efforts. The Fund secured commitments from a number of premier institutional investors, including the University of Michigan’s endowment, AZ Public Safety Personnel Retirement System pension, a major Midwest hospital plan, a Japanese insurance company, a RE specialist advisor who brought a large southwest public pension plan, as well as a multi-employer ERISA plan, a Midwest family office and a NY based family office and advisory firm.