Maverick Real Estate Partners has closed its fourth distressed debt fund at a hard cap of $75 million. Maverick acquires defaulted commercial mortgages, mechanics liens and real estate judgments in the New York City area. The firm makes investments between $1 million and $10 million and usually closes within 10 days.
NEW YORK–(BUSINESS WIRE)–Maverick Real Estate Partners LLC (“Maverick”), a distressed debt private equity fund manager, has reached its hard fundraising cap for Maverick Lien Fund IV LP with $75 million in commitments from endowments, foundations, family offices, and wealth managers. The fund is now closed to new investors. “Maverick is grateful for the support of our new and long-standing investors, and is overwhelmed by the interest in our contrarian investment strategy,” said David Aviram, Principal and Director of Acquisitions.
Maverick acquires defaulted commercial mortgages, mechanics liens, and judgments secured by real estate located in the New York City area. “Given Maverick’s local expertise, availability of capital, and singular focus in acquiring distressed debt, Maverick is able to underwrite and close complex transactions quickly,” David said. “Serving as an outlet for problem assets, Maverick is a true partner for private lenders and banks, allowing them to focus on operating their core lending businesses.” Maverick invests $1 million to $10 million per transaction, and typically closes within 10 days.
About Maverick Real Estate Partners
Maverick was founded in 2010 by David Aviram and Ted Martell. Maverick has closed over 50 distressed debt transactions in the New York City area with an aggregate value of over $120 million. Maverick has fully invested its prior fund, Maverick Lien Fund III LP, after making 19 investments with total commitments of $35 million. For more information, please visit www.maverickrep.com.