SINGAPUR, 29. Oktober 2024 — TripFactory, eine führende globale Reiseplattform mit einer starken Präsenz in Indien, hat eine Serie-A-Finanzierung in Höhe von 50 Mio. USD von einer bekannten internationalen Unternehmensgruppe mit Hauptsitz in Indien erhalten. Diese Investition bewertet das Unternehmen mit einer halben Milliarde Dollar.

TripFactory wurde von Vinay Gupta und einem Team erfahrener Unternehmer, darunter Amit Aggarwal, Varun Gupta, Deepak Khurana, Ankit Agarwal, Ankush Agarwal, Ali Asger Lightwala und Ahmed Khan, gegründet und hat seine globalen Aktivitäten nach COVID-19 rasch ausgeweitet. Das in Singapur ansässige Unternehmen ist in über 110 Ländern vertreten und arbeitet mit Reisebüros und anderen Akteuren der Branche zusammen, um über seine fortschrittliche Plattform maßgeschneiderte Urlaubspakete anzubieten. Die Verbraucher können ihren Traumurlaub über die TripFactory-Website (www.tripfactory.com) buchen oder sich von den Experten des Unternehmens eine individuelle Urlaubsplanung erstellen lassen.

Die innovative Plattform von TripFactory integriert nahtlos die Logistik vor Ort und die Erbringung von Dienstleistungen und gewährleistet so ein außergewöhnliches Reiseerlebnis für seine Kunden.

„Wir freuen uns, in TripFactory zu investieren und mit dem Unternehmen zusammenzuarbeiten, da es weiterhin Freizeitreisen auf globaler Ebene revolutioniert”, so die Unternehmensinvestoren. „Mit ihrem dynamischen Team, ihrer ehrgeizigen Vision und ihren starken Werten ist TripFactory als Branchenführer gut positioniert und verfügt über die erwiesene Fähigkeit, ein profitables globales Unternehmen aufzubauen und zu skalieren.”

Angesichts der steigenden Nachfrage nach Urlauben nach der Pandemie hat sich Indien zu einem der führenden Quellmärkte für internationale Reisen entwickelt. TripFactory steht an vorderster Front, um diese wachsende Nachfrage mit einem einzigartigen Angebot zu befriedigen.

„Diese Investition bestärkt uns in unserem Bestreben, das größte Reiseunternehmen der Welt zu werden”, sagte Vinay Gupta, Gründer und CEO von TripFactory. „Damit können wir unsere Marktpräsenz ausbauen, unser Produktangebot diversifizieren und die Kundenerfahrungen in bestehenden und neuen Märkten verbessern. Wir konzentrieren uns weiterhin darauf, die Servicequalität unserer Plattform zu verbessern.”

Weitere namhafte neue Aktionäre, die sich in dieser Finanzierungsrunde dem Unternehmen angeschlossen haben, sind Vani Kola, Mohandas Pai und Ranjan Pai.

Informationen zu TripFactory:

TripFactory hat seinen Hauptsitz in Singapur und ist ein weltweit führender Anbieter von maßgeschneiderter Urlaubsplanung und nahtlosen Reiseerlebnissen. Das 2014 gegründete Unternehmen arbeitet mit Vertriebspartnern in 110 Ländern und 1.700 Städten zusammen und bietet Urlaubspakete in 32.000 Städten weltweit an. Mit über 800 Mitarbeitern in 62 Ländern ist TripFactory bestrebt, Reisenden einen erstklassigen Service zu bieten. Bis heute hat das Unternehmen Kunden aus über 94 Nationalitäten bedient.

Weitere Informationen finden Sie unter www.tripfactory.com.

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Partnership advances a mutual commitment to financing for residential homeowners and elective healthcare nationwide.

PHILADELPHIA, Oct. 29, 2024 — PowerPay, a leader in digital point-of-sale home improvement and patient lending, is pleased to announce the successful closing of an investment grade corporate bond issuance with KeyBank serving as the sole private placement agent. This financing is a significant step in PowerPay’s strategic growth plan, enabling the company to enhance its operational capabilities and expand its market presence.

The bond issuance provides PowerPay with the necessary capital to invest in technology advancements, scale its service offerings, and further develop innovative solutions. KeyBank’s commitment as the private placement agent underscores the bank’s confidence in PowerPay’s business model and growth trajectory.

“We are thrilled to partner with KeyBank in this important financing round,” said Mike Petrakis, Founder & CEO at PowerPay. “This financing will allow us to accelerate our growth, enhance our technology, and better execute on the Company’s financing initiatives.”

KeyBank’s robust financial support, combined with its deep understanding of the digital lending sector, positions PowerPay to capitalize on emerging opportunities in the market. The Company remains focused on delivering superior lending solutions while maintaining a commitment to compliance and customer satisfaction.

This financing marks a pivotal moment for PowerPay as it continues to position itself as a key player in the home improvement and elective healthcare industries. The Company looks forward to leveraging this partnership to enhance its service offerings and achieve its strategic goals.

For more information about PowerPay’s home improvement and healthcare loan options, visit www.getpowerpay.com.

About PowerPay

Launched in 2018, PowerPay is a leading provider of digital point-of-sale lending solutions, dedicated to delivering innovative and efficient services to the home improvement and patient finance sectors. With a focus on technology and customer experience, PowerPay is committed to revolutionizing the way businesses manage their loan offerings. Since its inception, PowerPay has processed over $8 billion in consumer loans. www.getpowerpay.com.

Media & Investor Relations:
Bennett Andelman
[email protected]

© 2024 PowerPay, Inc. All rights reserved.

SOURCE PowerPay

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SEATTLE, Oct. 29, 2024 — Picnic^™, the leader in food production automation, announced it has raised $5 million in a funding round led by Cercano Management, with participation from new investor Unlock Venture Partners, as well as existing investors Thursday Ventures, Flying Fish Ventures, and Creative Ventures.

This new round of funding will support Picnic’s mission to enhance customer productivity and help businesses in various industries embrace automation for increased efficiency. The capital will be used to scale operations, ramp up production, accelerate delivery capabilities, and meet increasing demand for its innovative food automation solutions across North America.

“Picnic is a perfect fit for investors looking to capitalize on the rapidly expanding world of Robotics, Food Technology, and Automation,” said Andy Liu, Partner at Unlock Venture Partners. “With over 3 billion pizzas sold annually in North America alone, the pizza industry presents an immense market opportunity, and Picnic is well-positioned to capture it. Picnic’s innovative platform makes it a leader in the transformative food automation space.” Andy will join Picnic’s board of directors, bringing decades of experience in hardware and software companies as a seasoned operator and investor.

Chef Lee Kindell, founder of MOTO Pizza and renowned for his innovative take on traditional pizza-making, shared his enthusiasm for Picnic’s technology. “Partnering with Picnic has been an exciting evolution for MOTO. Their cutting-edge automation has allowed us to maintain the integrity of our culinary craftsmanship while cost-effectively scaling up production to meet growing demand, at our traditional pizzeria, as well as high-volume venues like the Indian Wells Tennis Garden and T-Mobile Park in Seattle,” said Chef Lee. “Picnic’s platform gives us the efficiency we need without compromising the quality that defines our brand. It’s an inspiring blend of tradition and technology.”

Meeting Industry Needs Through Innovation
Picnic’s customer base already includes a diverse range of high-volume locations, from universities, stadiums, and big-box retailers to commissaries, pizzerias, and the U.S. military. The Picnic Pizza Station (PPS) enables these customers to overcome industry challenges like rising labor costs, productivity shortfalls, and food waste. Through automation, Picnic allows businesses to reallocate labor, reduce waste, enhance consistency, and boost employee and customer satisfaction.

“We pride ourselves on being customer-centric,” said Michael Bridges, CEO of Picnic. “Our focus is on empowering our customers by providing the automation tools they need to thrive. Automation doesn’t replace workers—it enhances their roles, allowing them to focus on improving both employee and guest experiences. The Picnic Pizza Station is designed to deliver consistent product quality while driving operational efficiency and reducing costs.”

A Leader in Food Automation
Picnic’s flagship product, the PPS Leonardo^™, and its smaller, cost-effective counterpart, the PPS Michelangelo^™, cater to high-volume, low-customization environments like university campuses, live venues, and military bases. Recent milestones include a pilot with one of the world’s largest retailers and installation in the U.S. Navy Kitsap base.

About Picnic
Founded in 2016, Picnic Works, Inc. (picnicworks.com) is a leader in intelligent robotic technology for the food service and hospitality industries. Picnic provides specialized automation solutions for restaurants, convenience and grocery stores, universities, retailers, sports venues, and military sites, helping them meet the demands of high-volume production with consistency and efficiency.

Follow Picnic on Facebook, LinkedIn, X, and Instagram.

Contact:
Michael Bridges
(415) 209-8295
[email protected] 

SOURCE Picnic Works, Inc.

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In support of this strategic shift, Crosscut is also launching a growth investment platform designed to back later-stage rounds in frontier tech.

LOS ANGELES, Oct. 29, 2024 — Crosscut Ventures, an early-stage venture capital firm with deep roots in Southern California’s tech ecosystem, today announced a strategic evolution in its investment thesis. Moving forward, Crosscut will exclusively focus its capital and company-building efforts on frontier technology, including space exploration, defense innovation, advanced materials and manufacturing — sectors that push the boundaries of technological development to solve critical market problems. Alongside these, Crosscut will also focus on energy transition and scalable climate solutions, reflecting the growing importance of these areas to the SoCal tech ecosystem. As part of the new direction, Crosscut will announce a new partner later this year who will join Crosscut’s 6th fund to lead the firm’s growth and project finance efforts, enabling the most promising energy innovations to reach commercial scale.

Building on Crosscut’s sixteen-year track record of early-stage success, backing over 170 companies with initial capital of $210 million, leading to over $7.2 billion of follow-on capital, Crosscut is committed to advancing opportunities in frontier technology. This shift aligns with the firm’s history of supporting companies like Inspire Energy (acquired by Shell), Measurabl, and Umbra Space, while paving the way for the next generation of mission-driven businesses, through more recent investments like Carbon Ridge, Cambium Carbon, SoloPulse, Haxion, Aalo, Proteus Space, and Solestial Solar.

“In my 23 years as an early-stage investor in LA, I’ve never been more excited about the potential of this market, the diversity of talent and the hard problems that I see amazing entrepreneurs tackling every day. We are just at the beginning stages of this techno-manufacturing revolution that will drive SoCal and produce some of the best returns of the next two decades,” said Brian Garrett, Managing Director and Co-Founder of Crosscut. “I feel lucky to wake up every day and have the opportunity to support the SoCal founders who are tackling these problems. I look forward to seeing the tremendous impact these solutions can have on global decarbonization, our energy systems and the continuing commercialization of space.”

In support of this strategic shift, Crosscut is also launching a growth investment platform designed to back later-stage rounds in frontier tech. With over 100 investors already committed, the invite-only network will syndicate a select set of underwritten growth deals to a network of mission-aligned investors, including family offices, endowments and foundations with a focus on frontier technologies such as nuclear fission, synthetic fuels and next-generation transmission and grid solutions.

About Crosscut Ventures

Crosscut Ventures, one of LA’s longest-standing seed funds, invests in founders building solutions that provide humanity with a better future. Crosscut partners with founders focused on clean energy generation and power distribution, the commercialization of frontiers in space, the ocean, and the earth, decarbonization, and the upgrading of the U.S.’ defense systems. The firm is committed to using its 16+ years of experience, widespread connectivity, and proven playbooks to bring companies to commercial viability for the betterment of humanity.

For more information, visit www.crosscut.vc.

SOURCE Crosscut Ventures

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Funding round led by Lightspeed Venture Partners will enable Table22 to expand its commerce platform and drive continued merchant partner growth

NEW YORK, Oct. 29, 2024 — Today, Table22, a leading provider of revenue-expanding e-commerce tools for merchants in America’s more than $1 trillion food and beverage industry, announced an $11 million Series A funding round to expand its platform and customer network. The round was led by Lightspeed Venture Partners, with participation from institutional investors Footwork, Forerunner Ventures, and Alt Capital, among others, as well as individual participants including founders of and leaders from category-leading companies like Square, BentoBox, and SevenRooms.

This funding comes on the heels of Table22’s 3x year-over-year growth; its ongoing 99% monthly retention of core merchant customers; and its expanding suite of commerce, fulfillment, and marketing tools used by independent restaurants, grocers, butchers, beverage retailers, coffee shops, bakeries, breweries, and cheesemongers across 38 U.S. states.

“At Table22, we believe that food & beverage businesses have the opportunity to serve their customers in a wide variety of compelling — and profitable — new ways,” said Sam Bernstein, Table22 Founder & CEO. “Our platform represents an entirely new selling paradigm for this essential, beloved industry — one that helps owners to ‘expand the pie’ with untapped revenue and offering categories; to transform the productive capacity of cost centers like prep shifts and off hours; and to drive more loyalty and brand affinity with their customers. We are thrilled to partner with Lightspeed on this round, and look forward to continuing to invest behind the success of our growing base of merchant partners around the U.S.”

Merchants who use Table22 today routinely generate six figures or more of new, high-margin revenue for their businesses through innovative consumer offerings like subscriptions, retail packages, and branded CPG products that are enabled by the company’s platform.

“Table22 is a rare win-win-win for the restaurant, the guest, and the platform,” said Aaron Silverman, Founder of Washington, D.C’s award-winning Rose’s Restaurant Group and Extra Fancy Catering & Events. “Since we began working with Table22 in 2021, the platform has enabled us to drive seven figures of new sales across subscriptions and retail e-commerce, while helping us nurture our guest relationships and extend our brand beyond our four walls.”

“Americans are spending more on out-of-home food than before the pandemic, but paradoxically it’s never been harder for restaurants to earn a profit. Table22 is growing the pie for all constituents in the food and beverage ecosystem by enabling merchants to tap into new sources of profitable growth,” said Alex Taussig, partner at Lightspeed Venture Partners. “When we spoke to owners of food and beverage establishments, several told us that partnering with Table22 was like adding an extra week of revenue each month to the operating calendar. That kind of immediate and impactful customer experience, paired with Table22’s best-in-class retention and customer economics, led us to partner with Sam and the Table22 team.”

Table22 was founded in 2020 to provide a new path forward for revenue and margin expansion for America’s ~500k independent food and beverage merchants. The company’s mission is to empower every food and beverage business owner to thrive economically, delight customers, and fulfill their creative purpose.

About Table22
Table22 unlocks incremental, high-margin revenue for America’s restaurants and F&B retailers, allowing them to expand profits and tap >$1 trillion of unmet demand each year. The company provides innovative e-commerce, fulfillment, and marketing tools for a variety of merchants across the U.S. restaurant, grocery, and F&B retail sectors — with a mission to help independent F&B businesses thrive and grow. The company was founded in 2020 and is based in New York City, with backing from leading investors such as Lightspeed Venture Partners, Footwork, Forerunner Ventures, and more. www.table22.com

About Lightspeed
Lightspeed Venture Partners is a multi-stage venture capital firm focused on accelerating disruptive innovations and trends in the Enterprise, Consumer, Health, and Fintech sectors. Over the past two decades, the Lightspeed team has backed hundreds of entrepreneurs and helped build more than 500 companies globally including Affirm, Carta, Cato Networks, Epic Games, Faire, Forty Seven, Guardant Health, Mulesoft, Navan, Netskope, Nutanix, Rubrik, Sharechat, Snap, Udaan, Ultima Genomics and more. Lightspeed and its global team currently manage $25B in AUM across the Lightspeed platform, with investment professionals and advisors in the U.S., Europe, India, Israel, and Southeast Asia. www.lsvp.com

SOURCE Table22

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Funding Will Accelerate Production of P1, A First-Of-Its-Kind Personal Electric Vehicle

NEW YORK, Oct. 29, 2024 — Infinite Machine, the New York-based company building the next generation of non-car vehicles, today announced the close of its seed funding round. The $9.3M round was led by Andreessen Horowitz through its American Dynamism fund, with additional participation from Adjacent Capital, Necessary Ventures, Otherwise Fund, the founders of Reformation, Replit, and HuggingFace and Formula 1 World Champion Nico Rosberg (Founder Rosberg Ventures). The capital will accelerate production and the market launch of Infinite Machine’s debut product P1 — a high-performance electric scooter designed to be the ultimate vehicle for urban environments.

“P1 is the first step in our vision of a post-car future,” said co-founder and CEO Joseph Cohen. “We couldn’t be more excited to partner with a16z and our other investors to bring our vision to life. This round of capital will allow us to scale production and start shipping vehicles to customers next year.”

P1 is a tool created to unlock the experience of living in and exploring a city. It offers next-gen technology that blends practicality and performance: its electric drivetrain is staggeringly quick, quiet, and it features a high-performance removable battery that can be charged at home with a standard outlet. P1 is modular and can adapt to carry cargo, spare batteries and even a speaker. It is fully connected, with an onboard automotive-grade computer and remote app for convenience and security. The vehicle can seat two passengers comfortably and can be operated for up to speeds of 30 mph with a standard driver’s license in the US. With a motorcycle license, a software unlock enables speeds of up to 55 mph.

Infinite Machine was founded by brothers Joseph and Eddie Cohen, who saw an opportunity to create urban vehicles that combined advanced technology, high performance, elevated design, and modularity. Dissatisfied with subpar performance, uninspiring designs, and the lack of good technology in existing urban vehicles, they brought together a team of builders from Tesla, Boosted, and Apple to realize their vision.

“We obsessed over every detail of P1,” shares Eddie. “Our singular focus was to create the best personal electric vehicle in the world and every decision we made—whether it was design, engineering, materiality, or software—was driven by an uncompromising dedication to the product itself.”

P1 is available for pre-order at infinitemachine.com, with deliveries expected to begin in 2025. This marks a significant milestone in the company’s mission to inspire a future where urban transportation is no longer dominated by cars, but by efficient, compact, and sustainable alternatives.

About Infinite Machine

Infinite Machine exists to make the most compelling non-cars on earth and to inspire a post-car future. P1, its first product, is a radical new personal electric vehicle for cities, pairing cutting edge industrial design with breakthrough performance and utility. The company was created by brothers Joseph and Eddie Cohen, lifelong vehicle enthusiasts and New Yorkers. They wanted to build vehicles that fit their lives—inspiring designs with great performance and deep practicality—that show an exciting vision for the future of transportation.

Contact:
[email protected]

SOURCE Infinite Machine

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Latii enables luxury architects and construction materials dealers to source premium windows and doors from fabricators in Latin America, Europe, and Africa

NEW YORK, Oct. 29, 2024 — Latii, a New York City-based proptech startup, is announcing today that it has secured $5 million in seed-round funding. Combined with the $3.3 million raised during a pre-seed round, this brings Latii’s total funding to $8.3 million. The seed round was led by Leadout Capital, with participation from Era Ventures, Act One, Nine Four Ventures, and RADV. The company will use the fresh capital to continue the development and launch of AI-powered tools that streamline processes for both its customers and fabricators. This infusion will further fuel its U.S.-wide expansion efforts in the Pacific Northwest, Mountain Region, and the New York Tri-State Area by removing cross-market friction.

“This funding enables us to leverage AI to lower overheads and enhance quality outcomes for our clients,” said Santiago Bueno, CEO and Co-Founder of Latii. “We’re excited to expand into new luxury architectural aluminum and European steel fenestration markets across the U.S., connecting architects and construction material dealers with premium, design-forward windows and doors from world-class fabricators.”

Latii is a managed marketplace and supply chain automation tool for construction materials, allowing U.S. customers to source high-quality, price-competitive, precision-made fenestration products from Latin America, Southern Europe, and North Africa. By providing access to alternative supply chains previously inaccessible to the U.S. market, the company generates savings of up to 60% while maintaining quality and offering access to innovative, design-forward architectural styles in steel and aluminum. Led by a team of industry experts and startup veterans, Latii is helping create supply chain flexibility within the $1.7 trillion U.S. construction industry.

“We’re excited about our investment in Latii because of the trusted relationships it has built with architects, dealers, and builders. When we spoke with customers, one of their major frustrations concerned the traditional quoting process, which often took over a week and was error-prone. Latii is disrupting the $65 billion window and door market by dramatically streamlining the quoting process while also delivering higher-quality custom products at a significant discount,” said Steve Brownlie, General Partner at Leadout Capital.

Latii is already working with customers in Texas, and has facilitated more than $1 million in orders in the past twelve months. Having validated product-market fit and unit economics, Latii is now building an automated, AI-powered quoting engine to quickly grow its footprint across the U.S.

“In a luxury and custom-made industry, quality is a key enabler for growth. Suppliers are craving tools to upscale production without compromising the outcome. Our AI-enabled technology can close the gap between the need for highly skilled operative labor and the decline in skilled talent willing to work in legacy industries,” said Juan Pascual, COO and Co-Founder of Latii.

About Latii:
Latii revolutionizes window, door, and construction material solutions for high-end dealers, architects, and homeowners by simplifying the specification process, ensuring quality, and offering unbeatable value. As a managed marketplace and supply chain automation tool, Latii empowers customers in the US to source high-quality, price-competitive materials from Latin America, Europe, and Africa. With a focus on premium quality, aesthetic versatility, and energy efficiency, Latii enables swift, informed decisions, saving time and reducing complexity, while creating supply chain flexibility in the $1.7T construction market. For more information, visit https://latii.com/.

About Leadout Capital:
Leadout Capital is an early-stage venture capital fund focused on backing founders whose world-class customer expertise provides core insights into addressing a customer need in large, overlooked, or underserved markets with a differentiated software solution.

SOURCE Latii

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CHARLOTTE, N.C., Oct. 29, 2024 — Petfolk, a leading provider of veterinary and urgent care through its network of “connected care” clinics, has received a $36 million Series C investment led by Deerfield Management (“Deerfield”). Existing investors Movendo Capital, White Star Capital, Cutting Horse VC, Idea Farm Ventures, and Parkview International participated in the round.

Petfolk is reshaping veterinary care to bring a best-in-class care experience to pets and pet parents. Through its “connected care” model, Petfolk combines modern facilities with 24/7 app-based virtual care to provide exceptional care that meets the needs of today’s modern pet parents who seek both convenience and reliability.

Petfolk is purpose-built to support today’s veterinarians through providing support, training, and opportunity through its deep focus on culture and community. Founded and led by Dr. Audrey Wystrach, DVM, Petfolk and its differentiated approach are products of her more than thirty years of experience as a practicing veterinarian. This innovative care model has contributed to Petfolk earning a top five ranking on Newsweek’s 2024 list of Global Most Loved Workplaces.

“Since inception, our entire team has been uniquely focused on creating a better experience for everyone involved in the veterinary care journey,” said Dr. Wystrach. “As we continue to grow, we are incredibly excited to have Deerfield as an investment partner given their dedicated focus on supporting healthcare companies that drive innovation and excellence in practice.”

“Over the next decade, the landscape of veterinary medicine is poised to transform as pet parents seek care that is both high-quality and easily accessible. Veterinarians are also likely to choose to work for organizations that foster culture and support personal development,” commented Kevin Berg, Senior Advisor at Deerfield. “Petfolk demonstrates a remarkable commitment to elevating the veterinary profession.”

Petfolk currently operates nineteen veterinary clinics across seven markets (Charlotte, Raleigh, Atlanta, Orlando, Dallas, Houston, and San Antonio), with additional new clinics opening in multiple markets, including Miami and Phoenix, in the coming months. By year-end 2025, Petfolk’s clinic network is expected to expand to approximately forty clinics across over ten major metro markets.

About Petfolk

At Petfolk, we deliver the best care for your best friends. Built by vets who love pets, we are reimagining the future of veterinary care through our “connected care” model, blending modern de novo facilities with 24/7 app-based virtual care. Our intentional design, operational excellence, and tech-forward approach ensure best-in-class care and an unparalleled customer experience. Since inception, Petfolk has maintained an exceptional Net Promoter Score (NPS) of 90+, making us the most loved veterinary care group in every market we serve. To learn more about Petfolk and its upcoming announcements, please visit www.petfolk.com and follow the company on LinkedIn and Instagram @mypetfolk.

About Deerfield Management

Deerfield is an investment management firm committed to advancing healthcare through investment, information, and philanthropy. The firm works across the healthcare ecosystem to connect people, capital, ideas, and technology in bold, collaborative, and inclusive ways. For more information, please visit www.deerfield.com.

Advisors

Goodwin Procter LLP served as legal advisor to Petfolk and Robinson, Bradshaw & Hinson, P.A. served as legal advisor to Deerfield.

SOURCE Petfolk

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PHILADELPHIA, Oct. 29, 2024 — Corten Real Estate announced the successful completion of two common equity multifamily investments in Greenville, SC and Annapolis, MD over the last several weeks.

On September 30, Corten closed a $9.1 million joint venture common equity investment in Park on Gilder Creek, a 1997/2001-vintage, 132-unit apartment community located in Greenville, SC that qualifies for South Carolina’s real estate tax abatement program.  The deal was done in partnership with Fulton Peak, a vertically integrated, multifamily investment firm focused on acquiring, repositioning and operating rental housing properties throughout the Mid-Atlantic and Southeast. The investment came from Corten Real Estate Fund II LP (“CREF II”) and served to both capitalize the acquisition and reposition the asset.

Subsequently, on October 11, Corten made a $10.5 million common equity investment to acquire The Gardens of Annapolis, a 106-unit active adult community located in Annapolis, MD.  This deal was done in partnership with Real Asset Industries, a real estate owner/operator focused on senior housing.  The investment also came from CREF II and will fund a renovation program focused on enhancing common areas, amenities and unit interiors.

According to Principal Matt Kattler, “Gilder Creek marks our first foray into attainable housing, in an important target market for Corten with a partner that has solid operating capabilities.  We look forward to identifying additional opportunities in the attainable/affordable housing space – they are win-wins for communities and investors alike.” 

Managing Partner P.J. Yeatman said, “Corten’s investment activity has increased markedly over the course of 2024, both in special situations requiring structured capital solutions to pay down senior debt and distressed acquisition opportunities that require operational improvements and a reset of cost bases.  We look forward to leveraging the network we’ve built as well as finding new best-in-class partners who share our vision going into next year.”  

About Corten

Corten Real Estate is a private investment manager that targets middle-market preferred equity, mezzanine debt, joint venture and common equity investments in hospitality, multifamily, office and other properties located throughout the United States. Corten’s sector expertise and ability to invest up and down the capital stack allow it to provide tailored capital solutions to operating partners and sponsors looking to execute value-added business plans.  Corten is headquartered in Wilmington, DE, with offices in the Philadelphia, PA and Chevy Chase, MD. www.cortenrealestate.com.

SOURCE Corten Real Estate Partners

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