The funding for this venture will be supported by Monroe’s revolving credit facility from the Canadian Imperial Bank of Commerce. This transaction is handled through Monroe’s specialty finance division, which specializes in complex and special situation structured debt and equity financing. The division completed over 15 debt and equity deals in 2023 alone.
Kyle Asher, Monroe’s co-head of alternative credit solutions, highlighted the dual benefits of the partnership. “Our investment not only aims to enhance access to affordable housing amid the current scarcity but also represents an attractive yield opportunity for our investors,” Asher said. “This deal showcases the ongoing growth of our specialty finance operations and Monroe’s capability to deliver valuable asset-based investment opportunities at scale.”
