Leading Real Estate Companies Team Up to Launch Dwell Finance
Partnership between 643 Capital Management and Five Ten Capital offers financing for acquisition and term loans to investors of single-family homes
Two leaders in the rapidly growing single-family rental business, 643 Capital Management(643) and Five Ten Capital (Five Ten), have combined forces to launch Dwell Finance, a national financing company that offers both acquisition and term loans to investors of single-family homes.
643 and Five Ten have extensive experience buying and renting homes across the U.S., having combined purchases of over 4,000 homes and nationwide operations.
The powerful combination of Rob Bloemker, former Head of Fixed Income at Putnam Investments and founder of Five Ten Capital, and Gregor Watson, founder of 643 Capital Management, will offer significant advantages to investors seeking finance. “Our experience in buying, borrowing, and lending in single-family homes provides us with a roadmap for what does and doesn’t work in this business,” says Dwell Finance co-founder Gregor Watson. “We can offer effective financing solutions to both home investors and future bond holders.”
643 has a strong five-year track record investing and lending in the single-family rental business, partnering with the country’s leading institutional investors in real estate. Five Ten has successfully invested through its four discretionary funds across fifteen markets using their “National-yet-Local” platform to generate attractive returns for their investors. “We’re excited to combine 643’s outstanding investor home lending platform with Five Ten’s experience in mortgage origination, servicing, and securitization,” says Dwell Finance co-founder Rob Bloemker.
While 643 and Five Ten will continue to run separate real estate investment platforms, Bloemker and Watson believe joining forces on the debt side will be a powerful union. Bloemker, who began his career investing in mortgages for Salomon Brothers in the 1980’s, commented: “We see this market taking off over the next few years. Single-family investors fall into a void between the traditional commercial and residential mortgage markets, leaving over $2 trillion rental homes currently owned without financing.” Dwell Finance will focus on capturing the very best borrowers by offering a streamlined easy to understand process with flexible lending to investors of single-family homes.
Dwell’s headquarters are in San Francisco, California and serve borrowers across the country.
About Dwell Finance
Dwell Finance is a joint venture between 643 Capital Management and Five Ten Capital, combining their substantial experience in investing, borrowing, and lending in the single-family home space. Dwell Finance is a pioneer in financing investor-owned single-family homes and is optimally positioned to serve this market. For more information, please visit:www.DwellFinance.com
Media Please Note:
For further details about Dwell Finance, to schedule an interview with Gregor Watson or Rob Bloemker, or to request high-resolution photography, please contact Tarah Beaven at Dwell Finance at (415-235-0938; tarah@Dwellgroup.com).
Read the full article on Reuters.com