Trive Capital has formed NuBridge Commercial Lending to make first-lien, short-term bridge loans for commercial and multifamily properties across the United States.
NuBridge will target loans that are between $1 million and $10 million with an average term of 12 to 24 months. The new lender’s target market includes multifamily, mixed-use, office, retail, industrial, warehouse, mobile home parks, and self-storage properties across the United States.
NuBridge, led by CEO Bill Komperda and President and COO Ed Resendez, is headquartered near Los Angeles in Ponoma, California. Messrs. Komperda and Resendez were previously the chief executive officer and president, respectively, of Los Angeles-based Cherrywood Mortgage which was acquired in June 2018 by Angel Oak Commercial Lending, a subsidiary of Atlanta-based Angel Oak Companies.
“Our team is pleased to be partnering with Trive to create a differentiated real estate lending platform,” said Mr. Komperda. “NuBridge will deliver speed, certainty, and service to our borrowers by leveraging technology and offering creative, flexible capital solutions. We look forward to building our business with Trive’s financial backing and operational expertise.”
“We are thrilled to be partnering with the NuBridge management team in launching a business that will be a leader in providing attractive, flexible financing solutions to property owners,” said Conner Searcy, a managing partner at Trive Capital. “Ed, Bill, and their team are skilled operators who can scale a highly differentiated lending platform.”
Trive invests from $10 million to $150 million of debt or equity in North America-headquartered companies with revenues of $40 million to $1.5 billion. The firm is industry-agnostic but has specific experience across a range of sectors including aerospace and defense, automotive, building products, business services, chemicals, and consumer goods.
In July 2020, Trive made an investment in California-based Rubicon Bakers, a maker of all-natural cakes, cupcakes, cookies, and muffins; and in June, the firm acquired publicly traded Seven Aces, a Georgia-based coin-operated amusement machine route operator.
In September 2017, Trive held a final closing of Trive Capital Fund III LP with $1 billion of capital commitments. The firm was founded in 2012 by Conner Searcy and Chris Zugaro and is based in Dallas.
Private Equity Professional | September 2, 2020