Century City-based Archway Capital has launched a $150 million distressed lending program.
The program marks an expansion of its platform to include first mortgage debt, mezzanine capital and co-general partner equity.
The co-general partner equity will be for $3 million to $15 million.
Archway Capital already provides short-term, non-recourse, fixed-rate senior debt from $2 million to $20 million.
The $150 million will be deployed in the next three years.
“Our new lending platform will meet the increasing demand from our borrowers who were looking to us as a one-stop shop for intelligent capital — both debt and equity — as they seek the most effective pathway to reach their financial goals in complex real estate transactions,” Bobby Khorshidi, Archway Capital’s president and chief executive, said in a statement.
In addition to the expansion of its platform, Archway Capital has also been hiring, adding people in L.A. and on the East Coast.
Max Kirschenbaum has joined the firm as a director, tasked with expanding Archway Capital’s national origination efforts. He will be expected to source investment opportunities and develop new strategies for the company.
Prior to joining the company, Kirschenbaum was a founding member of crowdfunding investment firm Fundrise. While there he deployed more than $550 million of joint venture equity, preferred equity and debt investments in commercial real estate assets.
Greg E. Schecher has also joined the firm as a director, working on the East Coast region. The commercial real estate veteran has served as a senior member of the origination teams at Money360, NAI Global, and Keystone Bridge Capital.
Last year Partners Capital Finance Inc., which did business as Archway Fund, and the principals of alternative investment manager Oakhurst Advisors recapitalized the bridge lender under the new name Archway Capital.
At the time, Khorshidi said the company was most interested in value-add and industrial assets.