NEW YORK CITY — Seniors housing finance veterans Rick Shamberg, Greg Rush and Kari Schmidt have launched Scarp Ridge Capital Partners, a New York-based investor.
Focused on value-add and opportunistic real estate, the company plans to invest in hospitality and healthcare with a heavy concentration of seniors housing.
Launching with a $300 million fund, Scarp Ridge plans to acquire non-performing loans; create structured financing solutions including debt, mezzanine and preferred equity; and acquire direct ownership interests in assets and portfolios.
“Scarp Ridge believes there will be opportunities to acquire distressed assets at discounts to replacement cost and add value through a combination of capital investment, rebranding, and new management and creating structured solutions or recapitalizing assets including providing runway capital to existing owners,” says Shamberg.