Dekel Plans $500M Resi Lending Platform

L.A.-based firm adds Vishal Vanjani and Ben Markiles to run the financing vehicle

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Investors are bullish on the stability of the residential markets amid wider economic uncertainties.

Dekel Capital announced it launched a new lending platform to make balance sheet and commercial mortgage-backed securities loans for the acquisition, refinancing and recapitalization of commercial real estate assets, including build-to-rent and single-family rentals. The Los Angeles-based investment firm expects to originate $500 million through the fund named Dekel Correspondent Lending, according to founder Shlomi Ronen.

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Dekel also added Vishal Vanjani as managing director and Ben Markiles as associate to lead the initiative on behalf of its capital providers. The two most recently ran the capital markets program for alternative asset management firm CION Investments.

“Unlike other correspondent programs that are generally focused on ‘in-the-box’ financing, we will be able to originate in-house a variety of nonrecourse loans with short-term, floating-rate and long-term, fixed-rate capital,” Vanjani said in a statement.

Vanjani has originated more than $15 billion over his 28-year career in finance, most notably running West Coast operations for Natixis and Pacific Western Bank. Prior to CION, he was president of GreenBridge Finance. Markiles originated approximately $2 billion over his career that started at Deutsche Bank originating CMBS and bridge debt before he also worked at LoanCore Capital.

Gregory Cornfield can be reached at gcornfield@commercialobserver.com.