Crestline Investors, Inc. ("Crestline") announces that funds managed by its Real Estate and Reinsurance teams have closed a first lien mortgage construction loan secured by Sandpiper Place, a single-family residential development located on Nantucket Island (the "Project"). The Project is a joint venture between Kems Development Corp and Capital Hall Partners. The financing will support the joint venture’s construction of the remaining 20 units in a 36-unit single-family residential development.
“We are thrilled to support Kems Development Corp and Capital Hall Partners in their development of single-family homes on Nantucket Island,” said Wes Davidson, Director at Crestline Investors. “This is an opportunity to partner with an experienced builder and developer to provide multiple residential housing options in a high-barrier-to-entry market.”
“Crestline stood out given its flexible approach and the real estate team’s industry experience,” said Bradley Hall, CEO and Managing Partner of Capital Hall Partners. “This loan will enable us to bring the remaining homes to completion and help meet the demand for housing on Nantucket.”
Summit Development partnered with Crestline in originating the transaction and will service the loan post-close.
About Crestline Investors
Crestline Investors, Inc. is an alternative investment management firm founded in 1997 and based in Fort Worth, Texas, with affiliate offices in London, New York, Toronto, and Tokyo. The firm has approximately $20 billion in assets under management (as of June 30, 2024), and specializes in private credit strategies, offering a diverse range of investment solutions across its direct lending, opportunistic, and portfolio finance platforms. For more information, visit www.crestlineinvestors.com.
About Capital Hall Partners
Based in Santa Monica, California, Capital Hall Partners is a real estate development and investment firm. Their development, construction, renovation, and adaptive reuse projects are primarily located in California, Arizona, and New England. For more information, visit www.caphall.com.
About Kems Development Corp
Kems Development Corp is a boutique real estate development firm in the Boston area, focusing on top-tier residential living, including both private and multi-family residential projects.
About Summit Development
Headquartered in Southport, CT, Summit Development focuses on value-added development by redeveloping and repositioning undervalued assets. Founded by Felix T. Charney in 1982, Summit combines its expertise and vision to provide sustained value for its investors, business partners, and tenants. For more information, visit www.summitdevelopment.com.
This financial promotion is issued by Crestline Management, LP and Crestline Europe, LLP (together "Crestline"). Crestline Europe, LLP is authorized and regulated by the Financial Conduct Authority (FCA). The material is not intended to be a formal research report and nothing in this presentation should be interpreted to state or imply that past results are an indication of future performance. Any opinions expressed herein are our current opinions only. There can be no assurance or guarantee that Crestline's investment strategy will achieve its stated goal. All information provided in this presentation is for informational purposes only Crestline accepts no liability for loss arising from the use of this material. In the United Kingdom, this communication is being made only to, or directed only at, persons who are: (i) investment professionals within the meaning of Article 19 of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (“FP Order”); (ii) high net worth companies and certain other entities falling within Article 49 of the FP Order; or (iii) any other persons to whom such communication may lawfully be made. It must not be acted, or relied, upon by any other persons.
