Slate to invest in COVID-19 affected Canadian real estate

Slate Asset Management LP, a Toronto-based real estate-focused alternative investment platform, plans to deploy up to C$500 million in Canadian real estate businesses impacted by COVID-19.

Slate Asset Management LP, a Toronto-based real estate-focused alternative investment platform, plans to deploy up to C$500 million in Canadian real estate businesses impacted by COVID-19. Also, Slate has named Doug Podd as managing director in the Toronto office. Previously, Podd was Canadian lead for Brookfield Financial’s debt advisory business.

PRESS RELEASE

TORONTO, May 26, 2020 /PRNewswire/ — Slate Asset Management (“Slate”), a leading alternative asset management platform with a focus on real estate, announced it intends to deploy up to $500 million of transitional capital to provide liquidity to the Canadian real estate industry, especially those impacted by the COVID-19-induced market disruption.

“Slate has identified an immediate opportunity to provide transitional capital to the Canadian real estate market through a blend of credit and structured equity. Our investment platform, institutional relationships and operational expertise uniquely position the firm to address this gap,” said Blair Welch, Founding Partner.

In conjunction with the strategy’s unveiling, Slate has appointed Doug Podd as Managing Director in the Toronto office, effective immediately. Doug joins Slate with more than 25 years of experience in commercial real estate lending and previously served as Canadian Lead for Brookfield Financial’s debt advisory business, where he directly placed in excess of $4.5 billion of real estate and infrastructure debt.

“We are delighted to welcome Doug to the firm. His debt advisory and commercial lending background in the Canadian real estate market will be a significant value add to this strategy,” continued Welch.

Slate is offering quick execution and closing certainty on:
Bridge and Transitional Lending Solutions: As the financing environment tightens, Slate will assist borrowers on new acquisitions and refinancings, offering a mix of whole and junior loans;
Acquisition and Restructuring of Loans: Slate will work with lenders facing impaired performing and non-performing loans and securities to re-package existing positions; and
Flexible Liquidity Solutions for Assets, Funds and Sponsors: Slate will use preferred equity to help stabilize balance sheets where existing debt or equity is constrained.

About Slate Asset Management
Slate Asset Management is a leading real estate-focused alternative investment platform with over $6.5 billion in assets under management. Slate is a value-oriented manager and a significant sponsor of all of its private and publicly traded investment vehicles, which are tailored to the unique goals and objectives of its investors. The firm’s careful and selective investment approach creates long-term value with an emphasis on capital preservation and outsized returns. Slate is supported by exceptional people, flexible capital and a demonstrated ability to originate and execute on a wide range of compelling investment opportunities. Visit slateam.com to learn more.