Real estate investment firm Redwood Real Estate Partners said yesterday that it has launched a new investment fund focused on the distressed residential real estate market called Occasio Distressed Residential Fund or Occasio ResCap, a release from Redwood stated. With the launch of Occasio ResCap, the company aims to leverage current market conditions as well as acquire $500 million in distressed residential real estate assets while offering sellers a way of liquidating those assets. As an operating platform, Occasio ResCap will manage the acquisition and handle the risk analysis, pricing, underwriting and liquidation of distressed assets. Because it is a fully funded entity that is sponsored by Redwood, Occasio ResCap has the capital to close sales and mitigate sellers' risk, according to the firm's release.
Redwood has recruited John Duden, one of the founding partners of Fasthold Capital, to lead Occasio ResCap. Fasthold specializes in the purchase, restructuring, and liquidation of residential whole loans and REO portfolios. Duden has more than 20 years of experience in real estate finance and distressed asset acquisitions. "We are in the midst of a very challenging market and recognize that liquidity is scarce," said Carl Chang, founder and CEO of Redwood Real Estate Partners. "We launched Occasio ResCap to provide an effective exit strategy to sellers of residential real estate assets looking for liquidity while offering the certainty, integrity and experience for which Redwood is known." "Redwood has a long standing reputation as a highly experienced real estate investor, and I am excited to combine my experience in residential real estate with Redwood's expertise," stated Duden, president of Occasio ResCap. "With our mutual aptitude and experience plus an established fund, sellers of distressed real estate assets can look forward to a quick, transparent transaction and the confidence of knowing the sale of their assets will be executed flawlessly." Fund Overview