Real Estate Lender EquityMultiple Provided Acquisition Financing For New Site Following Loan From OakNorth Bank

OakNorth, the digital bank for entrepreneurs, has provided an $21m note-on-note facility to New York-based real estate investment firm and lender, EquityMultiple.

Co-founded in 2015 by Charles Clinton and Marious Sjulsen, the firm specializes in building investor wealth “through streamlined access to diverse real estate investment products.”

With total distributions equaling “over $480m, EquityMultiple blends crowdfunding with a more traditional real estate investment approach.”

The launch of the EM Ascent Income Fund, EquityMultiple’s dedicated private credit fund, has “helped solidify the firm’s reputation as a private lender in the real estate middle market space.”

Since inception, the firm has built up a strong reputation for “combining asset management, innovative technology, and personalized customer support to bring investors an unparalleled experience.”

The $21m note-on-note loan from OakNorth will be “used to reposition and lease a four-story Class A office-led building in Tinton Falls, New Jersey.”

Located at 1 Commvault Way, the 249k sq. ft site consists “of 10 separate office spaces, three retail units, a dining hall, fitness center, training and conference space, café, gaming rooms, several walking trails and sport courts, as well as 930 parking spaces.”

EquityMultiple’s borrower will look to significantly “transform the entire site by modernizing the amenity space and updating the fitness center, improving the cafe to include a full-service restaurant and food court, and create a subsection of co-working spaces as a complementary tenancy strategy”.

Peter Paladino, Director of Credit Investments at EquityMultiple, commented on the transaction:

“This project represents another solid loan closing for the EM Ascent Fund. The borrower is building upon its prior success to help meet the rising demand for dynamic, mixed-use workspaces in the region. Despite this being a highly complex transaction, Max and the OakNorth team remain a trusted lending partner, always highly transparent in the process. We look forward to partnering with them on future loan opportunities throughout the rest of 2025 and beyond.”

Max Saidman, Director of Debt Finance at OakNorth, added:

“Under Charles and Marious’s leadership, EquityMultiple have created a very strong reputation across the region’s commercial real estate market. Its strong track record in investing and lending on middle market real estate assets, gives us great confidence in supporting this latest acquisition loan. This transaction underscores our continued focus on backing experienced lenders with a clear vision and proven execution capability.”