BHI Supplies $40M Capital Call Line to Northwind Group

Northwind Group has secured a $40 million line of credit to help the firm ramp up its commercial real estate lending seven years after launching its debt fund vehicle, Commercial Observer has learned.

BHI closed the capital call line facility to Northwind Debt Fund II, one of two active real estate closed-end funds managed by Northwind. It also has two active healthcare debt funds. 

“Our credit strategy has grown tremendously over the last seven years as we have become one of the more active lenders in our space, and this line will help us further streamline operations as our funds near full deployment,” Ran Eliasaf, managing partner of Northwind Group, said in a statement. 

Eliasaf founded Northwind in 2008 as a real estate private equity firm and in 2017 launched a debt fund platform centered around whole loan bridge loans. Northwind also originates bridge and agency-backed loans  for skilled nursing and senior living properties.

“While amassing a considerable portfolio of assets across residential, commercial, senior living, and health care properties, Northwind Group has consistently demonstrated disciplined balance sheet management that generates strong risk-adjusted returns,” Gil Karni, CEO of BHI, said in a statement  

Manhattan-based Northwind announced last month the hiring of Robert Kalish as the firm’s new head of capital markets. Kalish was previously managing director at KPG Capital Partners.

Andrew Coen can be reached at acoen@commercialobserver.com