Another Tenant-In-Common Acquisition; SCI Real Estate Investments Acquires a $22M Office Complex in the San Fernando Valley with 9 Other Tenant-In-Common Investors.

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Victory Park Capital Expands into Real Estate Sector with Investment in Renovo Financial | Business Wire

CHICAGO--(BUSINESS WIRE)--Victory Park Capital (VPC), an asset management firm focused on middle market debt and equity investments, announced today that it will make a $50 million investment, with a $100 million potential upsize, in Renovo Financial, a Chicago-based private lending company that assists rehabilitation investors in acquiring, renovating and selling/renting residential properties. The investment will refinance Renovo’s existing portfolio, finance loan portfolio growth and support expansion into new markets outside of the Chicagoland counties.

“Renovo’s market leadership in the Chicagoland area, experienced management team and industry knowledge are exceptional,” said Tom Affolter, partner at VPC. “We believe this is an opportunistic time to partner with Renovo to help provide loans in the underserved residential rehab lending space and expand into new markets.”

Founded in 2011 by Kevin Werner, CEO of Renovo, and Granite Creek Partners, a Chicago-based private equity firm, Renovo originates short-term rehab loans and long-term landlord loans to creditworthy and experienced residential rehab investors enabling them to reduce their cost of capital as well as efficiently acquire and sell properties at...

SCI Real Estate Investments is pleased to announce the acquisition of the 130,219-sq.-ft. Jade Corporate Centre property located in Mission Hills, Calif., (adjacent to Granada Hills) in the San Fernando Valley. This 94%-occupied, 4-building office complex was purchased for $22,164,450. SCI principals Marc Paul and Robert Robotti represented the buyers. Lynwood Fields of Madison Partners represented the seller.

SCI is one of the nation’s largest 1031 investment sponsors. SCI acquired the property with 9 other tenant-in-common investors who are completing 1031 exchanges. With SCI’s private investor group.

Marc Paul, president of SCI, commented: “This is yet another example of the growing 1031 tenant-in-common industry. It's projected that of the approximately $50 billion a year in 1031 exchange transactions, only 2% are represented by tenant-in-common programs. By all accounts, within 5 years, perhaps 10% of these transactions will be TIC deals. That’s $5 billion a year.

“With our background, experience. This growing marketplace, SCI is perfectly positioned to sponsor these TIC investments. The added benefit we bring is that we can sell 1031 exchangers an undivided, fractionalized ownership position as a tenant-in-common with other investors, placing their funds in a much larger and higher quality project than they could possibly afford on their own.”

About SCI

SCI has been in business since 1994. Has a portfolio valued at $230+ million. SCI corporate offices are located in West Los Angeles. The company is recognized throughout the real estate, investment. Banking communities as one of the most active, professional. Astute real estate investors in the market today.