Acore Capital launches with financing from Delphi Financial

The new commercial real estate firm has secured $1.6 billion from a subsidiary of a Japanese insurer.  

Acore Capital has revealed Delphi Financial Group, a subsidiary of the largest publicly-traded Japanese insurer, Tokio Marine Group, as the $1.6 billion backer behind its new lending platform, reports PDI’s sister publication Real Estate Capital.

Launched by four former Starwood Property Trust executives, Acore will originate, acquire and manage first mortgages, B-notes, mezzanine debt and preferred equity throughout the US, Canada and Europe.

Boyd Fellows, Stew Ward, Chris Tokarski and Warren de Haan, who also worked together at Countrywide Financial Corporation and Nomura Securities International, have together closed more than 4,000 commercial real estate loans totaling more than $40 billion over the course of two decades in the industry.

Loans will range in size between $20 million to $300 million or more, and the firm plans to originate up to $5 billion in whole loans, intending to raise additional capital from institutional investors.

Fellows and de Haan began drawing up plans to launch a new lending platform earlier this year, as first reported in Real Estate Capital.