643 Capital Management, a private investment firm focused on debt and equity strategies in distressed real estate, has cut off ties from McKinley Capital Partners and formed its own company.
Former McKinley founder and managing partner Gregor Watson will lead 643 Capital Management. The San Francisco, Calif.-based real estate firm will continue to invest on behalf of its institutional capital partners as well as a select group of family offices through the firm's discretionary funds.
“We are excited about the opportunity to grow our rental platform throughout the country, allowing us the ability to continue to run our current equity fund as well as look for new investment opportunities,” Watson said.
“Pursuing our debt and equity platforms represents an opportunity to keep people in their homes as renters, stabilize neighborhoods and provide an attractive return for our investors.”
Emily Halloran, managing director, will join Watson to focus on short-term loans and other high yield debt opportunities. The new company will also include McKinley's acquisition team, which has obtained more than 500 homes.
Principals of 643's debt platform have managed over $1 billion in commercial, multi-family and institutional single-family real estate financing across the country. The firm's current debt fund covers ten states with a focus on mid-size loans ranging from $2 million to $15 million.
