Fairway America plays lead advisory role in creation of Houston Texas based mortgage pool fund
HOUSTON, TX (PRWEB) August 19, 2014 - Fairway America, LLC (“Fairway”), a Portland Oregon based real estate asset based advisory and investment firm, announced today the formation of the 212 Asset Fund (“212”) out of Houston, Texas. 212 will be managed by real estate finance veterans Tom Kenney, Mike Rebescher and Scott McClellan.
212 is the latest 506 Regulation D fund Fairway has facilitated for clients from all over the United States, including Columbus, OH; Boston, MA; Los Angeles, CA; Austin, TX; Dallas, TX; Charlotte, NC; San Francisco, CA; New York, NY; Minneapolis, MN; and more.
Kenney’s origination company, ISB Capital, is one of Texas’ leading private money lenders originating construction and rehab loans for residential property investors throughout Texas and the Southeast. He wanted to establish the fund in order to be able to expand his operations into other targeted markets around the United States, including Atlanta, GA; Minneapolis, MN; and Denver, CO.
Kenney met Fairway executives at the American Association of Private Lenders (AAPL) conference in 2012 and attended Fairway’s Private Lending Summit in 2013 before hiring Fairway earlier this year to help him structure and create his first pooled investment fund.
212 will also leverage Fairway’s expertise to handle the ongoing back-end administration for the Fund’s activities in order to concentrate on origination, construction monitoring, and asset management.
“Our construction loan operations and processes are very detailed and sophisticated,” said Kenney. “I felt that Fairway’s fund administration would bring those same disciplines to the administration side so we can feel confident when dealing with our investors.”
Fairway’s CEO Matt Burk sees this as a major trend among Fairway’s clients and, given his long background in running pooled investment funds, he completely understands why. “Really knowing the ins and outs of administering a pooled investment fund takes many years,” said Burk. “This is one of the main areas of concern, along with raising capital, that most potential fund managers have going into a new fund. Our administration services are designed to eliminate that fear and make it easy for our clients.”
Burk was very impressed with Kenney during his interactions with Kenney over the course of the engagement. “Tom had an excellent overall grasp of his business model and the direction he wanted to take his fund,” said Burk. “We had a lot of back and forth on his strategy and an appropriate structure for that strategy, and Tom consistently demonstrated an understanding of the issues as we put everything together. Clients like 212 are what makes this business fun.”
About ISB Capital, LLC
212 was founded by the principals of ISB Capital, LLC and Networth Realty USA, LLC. These entities have been significant players in the field of real estate investment lending in TX and the southeastern part of the United States for the last several years. Specializing in financing real estate investment loans, the management of these companies have originated and/or purchased loans throughout the United States for the last 20 years. 212 is a 506 Regulation D fund that accepts accredited investors from around the U.S.
Fairway America is the widely recognized market leader in the field of Small Balance Real Estate (SBRE), providing a comprehensive range of products and services to SBRE fund managers, syndicators, private lenders and other dealmakers including fund creation and advisory, fund administration, capital raise strategy, an online marketplace and more. Fairway also manages two proprietary 506 Reg. D funds that invest in a wide variety of SBRE deals including other SBRE funds, real estate secured loans, direct equity in real estate, participations and syndications, and other real estate asset based strategies. Fairway’s highly unique business model has rapidly made it the No. 1 resource in the world to help SBRE entrepreneurs nationwide improve, capitalize and grow their businesses in ways no other single resource does.
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