Sharestates Closes New $100 Million Warehouse Debt Facility with Ares Management
Summary
GREAT NECK, N.Y., March 3, 2022 /PRNewswire/ -- Sharestates, a leading real estate technology platform designed to support and accelerate the redevelopment of residential housing, recently closed a new $100 Million warehouse line of credit led by funds managed by the Credit Group of Ares Management Corporation ("Ares") to capitalize on demand from borrowers. This move is part of the Companys broader expansion strategy that has recently added additional staff, senior management, an independent board member, and expanded our geographical presence across the nation. With the new debt facility, Sharestates is well-positioned to continue scaling its loan originations to real estate developers that purchase, refinance, and rehab single-family residential properties as well as small to mid-sized multifamily projects across the country. Sharestates was founded by real estate veterans and its success is attributed to a strong leadership team, ease of use, sensible underwriting practices, and a relationship-focused lending strategy. Co-Headed by Keith Ashton and Joel Holsinger, Ares Alternative Credit leverages a broadly skilled and cohesive team of approximately 50 investment professionals as of December 31, 2021.