{"id":1004651642,"date":"2023-03-15T03:43:02","date_gmt":"2023-03-15T11:43:02","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004651642"},"modified":"2023-03-15T06:20:09","modified_gmt":"2023-03-15T14:20:09","slug":"schiff-dream-paulscorp-launch-avrio-real-estate-credit","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/schiff-dream-paulscorp-launch-avrio-real-estate-credit\/","title":{"rendered":"Former Mosaic Exec Launches Credit Platform"},"content":{"rendered":"
\"Vicky<\/a>

Vicky Schiff, CEO, Avrio Real Estate Credit. Image courtesy of Avrio Real Estate Credit<\/p><\/div>\n

Vicky Schiff, a commercial real estate and finance veteran who was most recently co-founder & managing partner of Mosaic Real Estate<\/strong> Investors<\/strong>, has launched Avrio Real Estate Credit<\/strong> in partnership with Dream Unlimited Corp.<\/strong> and PaulsCorp LLC<\/strong>. Headquartered in Denver, the firm also has offices in New York, Toronto and Los Angeles.<\/p>\n

Avrio will offer short-term, first mortgage debt and other structured finance products including B notes, mezzanine debt and preferred equity for the acquisition, refinancing and recapitalization of commercial real estate assets, with loans ranging from $25 million to $150 million.<\/p>\n

Schiff, who is the CEO of Avrio, told Commercial Property Executive<\/em> the firm is focused on the upper middle market, which they believe is being underserved because of the dislocation in the capital markets.<\/p>\n

\n

READ ALSO:<\/strong> Meeting the Challenge of Finding Capital at the Right Price<\/a><\/p>\n

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The national platform will be seeking transactions in all asset classes but will be weighted toward industrial and housing-related transactions. Avrio has several deals in the pipeline but Schiff declined to discuss them at this time.<\/p>\n

\u201cWe are going to be looking at all opportunities including construction lending, in which we have significant experience,\u201d Schiff told CPE.<\/em><\/p>\n

In addition to financing new development and value-add projects that utilize energy-efficient and green construction materials, methods or systems, Avrio will work with borrowers who create jobs, encourage education and employee engagement and who are dedicated to building projects that help expand the inventory of workforce, affordable and transitional housing, she said in prepared remarks.<\/p>\n

Asked how the recent collapse of Silicon Valley Bank and Signature Bank and concerns about other regional banks could impact CRE lending, Schiff told CPE <\/em>\u201cwe think the additional dislocation provides a widespread opportunity across the U.S.\u201d<\/p>\n

Schiff left Mosaic in July 2021, when real estate manager Lubert-Adler Real Estate Funds invested in a pool of assets owned by Mosaic Real Estate Investors and bought out Schiff\u2019s interests. She had co-founded Mosaic as well as MREC Management LLC, and Mosaic Real Estate Credit LLC, in 2015 with Ethan Penner. During her six years with Mosaic, the company became a leader in the debt fund space with originations surpassing $3 billion. In addition to Mosaic, Schiff has successfully founded or co-founded four other firms since 1996 in various sectors of the real estate and private equity business.<\/p>\n

Focusing on sustainability<\/h2>\n

Michael Cooper, co-founder & chief responsible officer at Canadian-based Dream, said in a prepared statement that, given the current supply gap of available debt to meet the needs of real estate operators and developers in the U.S., Avrio will play a critical role in bringing flexible and creative debt funding to developers searching for this type of instrument. Avrio represents Dream\u2019s entry into the U.S. credit market.<\/p>\n

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READ ALSO:<\/strong> How Much Will Investors, Lenders Reduce Activity?<\/a><\/p>\n

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Cooper noted that Dream, which has more than C$23 billion in assets throughout North America and Europe under management, places a strong emphasis on sustainability<\/a> across all of its strategies. He said Avrio fits well within Dream\u2019s goals of building better communities in its markets. One of Canada\u2019s leading real estate firms, Dream has 12 offices across Canada, the U.S. and Europe and is a leading developer of office and residential assets in Toronto and develops land and residential assets in Western Canada. The public company also operates a private asset management business.<\/p>\n

Avrio will use a specialized process, developed with Dream\u2019s sustainability and ESG team, to collect, analyze and report on ESG data in a streamlined manner, intended to help external partners and borrowers to improve their assets\u2019 ESG scores, attributes and overall impacts on their communities and the environment.<\/p>\n","protected":false},"excerpt":{"rendered":"

Led by Vicky Schiff, the firm is focusing on the upper middle market.<\/p>\n","protected":false},"author":1068,"featured_media":1004651719,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21825,23891,21742],"tags":[49912,46256,33582,47606],"class_list":["post-1004651642","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance","category-national","category-latest","tag-dream-unlimited-corporation","tag-mosaic-real-estate-investors","tag-the-pauls-corporation","tag-trez-capital"],"acf":[],"yoast_head":"\nFormer Mosaic Exec Launches Credit Platform - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"CRE veteran Vicky Schiff has launched Avrio Real Estate Credit in partnership with Dream Unlimited Corp. and PaulsCorp LLC.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/schiff-dream-paulscorp-launch-avrio-real-estate-credit\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Former Mosaic Exec Launches Credit Platform\" \/>\n<meta property=\"og:description\" content=\"CRE veteran Vicky Schiff has launched Avrio Real Estate Credit in partnership with Dream Unlimited Corp. and PaulsCorp LLC.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/schiff-dream-paulscorp-launch-avrio-real-estate-credit\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2023-03-15T11:43:02+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-03-15T14:20:09+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/03\/Vicky-Schiff.png\" \/>\n\t<meta property=\"og:image:width\" content=\"994\" \/>\n\t<meta property=\"og:image:height\" content=\"742\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Gail Kalinoski\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/schiff-dream-paulscorp-launch-avrio-real-estate-credit\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/schiff-dream-paulscorp-launch-avrio-real-estate-credit\/\",\"name\":\"Former Mosaic Exec Launches Credit Platform - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/schiff-dream-paulscorp-launch-avrio-real-estate-credit\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/schiff-dream-paulscorp-launch-avrio-real-estate-credit\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/03\/Vicky-Schiff.png\",\"datePublished\":\"2023-03-15T11:43:02+00:00\",\"dateModified\":\"2023-03-15T14:20:09+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/fc5b5df1393e5023d2417bd48c2fda57\"},\"description\":\"CRE veteran Vicky Schiff has launched Avrio Real Estate Credit in partnership with Dream Unlimited Corp. and PaulsCorp LLC.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/schiff-dream-paulscorp-launch-avrio-real-estate-credit\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/schiff-dream-paulscorp-launch-avrio-real-estate-credit\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/schiff-dream-paulscorp-launch-avrio-real-estate-credit\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/03\/Vicky-Schiff.png\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/03\/Vicky-Schiff.png\",\"width\":994,\"height\":742,\"caption\":\"Vicky Schiff, CEO, Avrio Real Estate Credit. 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