Obra Capital Welcomes Experienced Commercial Real Estate Origination and Servicing Team and Launches Obra Real Estate

New York, NY – March 13, 2024 – Obra Capital, Inc. (“Obra”), an asset management firm with a specialized approach to alternative investing, today announced that it has hired the experienced real estate origination and servicing team of Pangea Mortgage Capital (“PMC”) and launched Obra Real Estate.

PMC was founded in 2017 as a wholly owned subsidiary of Pangea Properties, a large private REIT.  The team brings with it deep operational and underwriting expertise that will support Obra Real Estate’s investment strategy for insurance and institutional accounts. Over the last seven years, the team has collectively originated in excess of $780 million dollars in commercial real estate loans across over 100 transactions.

Obra Real Estate will be led by Scott Larson, who joins as Managing Director reporting to Blair Wallace, President and Chief Executive Officer of Obra. Larson brings extensive industry experience and most recently spent 13 years at Pangea Properties where he launched their institutional lending platform. Michael Bachenheimer also joins as Managing Director and will be responsible for deal origination. Bachenheimer spent the last five years at PMC in deal origination and has a 25-year tenure in the real estate industry including experience as lender, real estate consultant, appraiser and asset manager.

Obra believes the significant slowdown in commercial real estate lending originations and an overall contraction in available financing to address impending maturities, has created an environment that aligns with the team’s competitive advantage and core competency. The team will continue to focus on the lower-middle market private debt segment that remains underserved and where there is significant ongoing demand.

The team will benefit from Obra’s existing capabilities and experience, and its access to balance sheet capital from within the Obra ecosystem.

“The team’s focus and approach to commercial real estate lending is aligned with Obra’s asset-based finance strategies that seek areas where capital is scarce and non-correlated returns are available. We are pleased to welcome the team to Obra and look forward to combining and extending our capabilities in commercial real estate lending through our Obra Real Estate offering,” said Blair Wallace, President and Chief Executive Officer.

For more information, please visit www.ObraRE.com.

About Obra Capital

Obra Capital, Inc. is a specialized alternative asset management firm that provides investment products and solutions across insurance special situations, structured credit, asset-based finance, and longevity. The firm aims to generate long-term value and attractive returns for investors through a variety of funds and separate accounts. With capabilities in investing, originating, structuring, and servicing, Obra provides differentiated investment opportunities for investors globally. As of January 31, 2024, Obra Capital Management, LLC’s estimated unaudited amount of assets under management was approximately $4.3 billion. For more information about Obra, please visit www.obra.com.

Media Contact:
Dan Gagnier
Gagnier Communications
Obra@gagnierfc.com
646-569-5897