Crestline Management, L.P. (“Crestline”) is pleased to announce the closing of a senior secured bridge loan to Magma Equities (“Magma”), a vertically integrated multifamily investment firm. The loan is secured by University Apartments, a 154-unit, fully furnished student housing community located approximately half a mile from the University of North Carolina at Chapel Hill. Proceeds were used to refinance the Property’s existing loan and fund reserves. Longline Financial, LLC (“Longline”) will service the facility.
“University Apartments’ proximity to UNC and its position in a supply-constrained student housing market made this an attractive opportunity,” said James Delaune, Senior Managing Director at Crestline.
"Crestline moved quickly and structured a facility that gave us the flexibility we needed to bridge to our next step for this property," said Ryan Hall, Founder and Managing Principal of Magma Equities.
“Longline was excited to play a role in financing a very well-located student housing property in a high barrier market with a strong counterparty in Magma Equities whose seamless execution made
them an exceptional partner on this transaction,” said Jeremy Herman, Director at Longline Financial.
About Crestline Management, L.P.
Crestline is a global alternative investment management firm founded in 1997 and based in Fort Worth, Texas, with affiliate offices in London, New York, Tokyo, and Toronto. The firm has approximately $18 billion of credit assets under management (as of March 31, 2026) including its capital solutions, direct lending, and portfolio finance platforms. Crestline operates as part of Rithm Capital Corp. (NYSE: RITM), a global alternative asset manager with significant experience managing credit and real estate assets and an integrated platform that spans asset-based finance, residential and commercial real estate lending, mortgage servicing rights, and structured credit. For more information, visit www.crestlineinvestors.com.
About Magma Equities
Magma Equities is a real estate investment firm focused on identifying, acquiring, and operating high-quality multifamily properties throughout the United States, with a strategy centered on value-add repositioning of Class A and B apartment communities. The firm is vertically integrated across acquisitions, asset management, and construction management. For more information, visit www.magmaequities.com.
About Longline Financial:
Longline Financial is a wholly owned subsidiary of Longline Management, LLC (“Longline”), a private investment company based in Atlanta, GA focused on asset-backed credit. Longline invests opportunistically across the capital structure in direct real estate and hard assets, related credit strategies, and select operating companies. Since inception, Longline has invested over $800 million of equity across multiple investment strategies on behalf of institutional and individual investors, as well as for its own account. Longline invests across all real estate asset classes and major U.S. markets, providing debt and structured equity financing solutions for land and pre-development, acquisitions, ground-up construction, bridge and transitional financings, recapitalizations, as well as distressed and special situations opportunities. For more information, visit www.longlinemgmt.com/ [longlinemgmt.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.
