Crestline Investors, Inc. announces that its Real Estate and Reinsurance teams have closed a first lien mortgage mid-construction loan secured by The Willow, a multi-family residential development located in Long Branch, New Jersey. Michael Bacchetta of BACC Builders will use the financing to complete the 87-unit complex and lease up the property. The Willow is ideally situated near a prominent beachfront locale featuring a variety of restaurants, boutique shops, fitness centers, and scenic ocean views.
“We are excited to work with BACC Builders to finalize this upscale project. This is a promising opportunity in a prime location, offering residents access to a vibrant waterfront community and an exceptional living experience,” said James Delaune, Managing Director at Crestline Investors.
“We are confident that working with Crestline will ensure successful execution,” said Michael Bacchetta, Founder & CEO of BACC Builders. “Their expertise in multi-family developments and proficiency in creating adaptive solutions align with our goals for The Willow.”
“The Willow is well positioned for success as the Long Branch market continues to benefit from residents favoring lifestyle-driven housing over commute times, and historically low supply in Monmouth County. We are thrilled to collaborate with Crestline to execute upon this opportunity.” Said Sean Robertson, Managing Partner of North River Partners. North River collaborated with Crestline in originating the transaction and will service the loan post-closing.
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 is specialized 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 BACC Builders
Since 1984, BACC has attained status as one of New York’s premier commercial builders with self-perform capabilities and strong subcontractor relationships. Michael Bacchetta, Co-Founder and Principal of BACC Builders, has over 32 years of experience in commercial, hotel, condominium, and mixed-use development projects. For more information, visit www.baccbuilders.com.
About North River Partners
North River Partners is a New York City-based commercial loan originator with a focus on transitional financing for multifamily development projects in high-growth markets throughout the United States. For more information, visit www.northriver-partners.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.
