Hyundai Investments commits $250 mn to US real estate debt fund
Hyundai Investments Co. Ltd | December 26, 2018
Hyundai Investments Co. Ltd. has committed $250 million to a real estate debt fund of a joint venture between Related Cos, a US real estate developer and HPS Investment Partners LLC to invest in first lien mortgages, the South Korean asset manager said on Dec. 26. Through Real Estate Credit Solutions (RECS) fund II managed by the credit investment venture, Hyundai will invest in a warehouse facility, or a credit line extended for the funding of mortgage loans, for an expected annual return of about 6% in dollar terms.