ALLY Global Management (“ALLY”) and Range Real Estate Partners (“RANGE”) have made a strategic investment in iBorrow, a vertically integrated loan originator, servicer, and asset manager focused on transitional commercial and residential real estate loans across the United States. Since its inception, iBorrow has deployed approximately $2 billion of loan capital into real estate bridge loans across various asset types, including industrial, retail, multifamily, and hospitality lending to professional, experienced, entrepreneurial borrowers.
The investment in iBorrow was made through the ALLY USA Real Estate Fund (“AUSRE”), the real estate platform founded and managed by ALLY and RANGE that closed their inaugural special situations fund, AUSRE I, in March 2024. Limited partners included leading institutions and significant family offices from Asia. In conjunction with the fund closing, Ally USA was approved and completed the formation of its VCC fund, domiciled in Singapore, to accommodate strong interest from the Asia Pacific region. Teerapong Ninvoraskul, former head of private assets for the Thai Government Pension Fund, has joined in an advisory board capacity. ALLY RANGE is headquartered in New York, with offices in Los Angeles, Singapore, and Bangkok.
This investment in iBorrow comes at an opportunistic time in capital markets when traditional lenders have pulled back their lending, creating a significant void that private lenders are filling. For private lenders like iBorrow that are not burdened with legacy issues, the current environment provides a tremendous opportunity to deploy significant capital offering attractive absolute and risk-adjusted returns. As part of the transaction, RANGE founder Simon Gluck will join the board of iBorrow in an active partner capacity.
“iBorrow has navigated the current climate very well, has built a robust national network of borrowers, and in combination with the launch of its residential platform is very well positioned for the current market environment. We are excited to partner with iBorrow and expand our range of product offerings to our capital base in Asia, where we have seen capital appetite for U.S. real estate credit grow,” said co-founders Kris Eiamsakulrat & Simon Gluck in a joint statement.
“We are excited to welcome ALLY RANGE as our partners, as they bring a wealth of experience and relationships that will enable us to better realise the market opportunity that exists. At this crucial time, we are well-positioned to help savvy entrepreneurs and investors realise their ambitions through smart investments in multifamily and single-family residential, industrial, hospitality, and retail real estate. The market is offering some incredible opportunities right now, and we look forward to a promising future,” said Harlan Peltz, Partner at iBorrow.