Slate Asset Management (“Slate”), a global alternative investment platform targeting real assets, announced today that Slate Real Estate Capital, the private credit business of Slate, has closed a $27.0 million senior loan facility provided to a private investor for the financing of Lantana Uptown, a 2020 constructed, Class-A multifamily residential property located in Oakland, California.

Lantana Uptown is a 140-unit residential property located in the highly desirable Uptown neighborhood of Oakland. The property is adjacent to key transit networks, including the Bay Area Regional Transit (BART) station and the I-980 highway system. The property offers residents units featuring high-end designs and finishes and a premium amenity package that includes a rooftop lounge and grilling area, 24-hour gym and fitness studio, bike storage and service station, dog wash, resident lounge, and a package access system with cold storage.

Multifamily has proven to be a resilient asset class with strong fundamentals. The San Francisco Bay Area market continues to experience a housing shortage, with one new housing unit created for every 6.9 Bay Area jobs over the past six years. This shortage, combined with Oakland’s projected MSA population growth over the next five years, is expected to keep vacancy low and maintain upward pressure on rents.

Slate is an active lender through its real estate credit platform, Slate Real Estate Capital, which provides transitional capital and flexible liquidity to strong sponsors and assets across the commercial real estate industry. The firm’s debt capabilities span bridge and transitional loans, acquisition and restructuring of existing loans, investment in debt securities, and flexible structured liquidity solutions for landlords and lenders.

Charles Halladay and Lillian Roos of Jones Lang LaSalle Americas, Inc. represented the borrower for the transaction.

About Slate Asset Management

Slate Asset Management is a global alternative investment platform targeting real assets. We focus on fundamentals with the objective of creating long-term value for our investors and partners. Slate’s platform has a range of real estate and infrastructure investment strategies, including opportunistic, value add, core plus and debt investments. We are supported by exceptional people and flexible capital, which enable us to originate and execute on a wide range of compelling investment opportunities. Visit slateam.com to learn more.

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