Fairway America Plays Lead Advisory Role in Creation of Houston, Texas-based Mortgage Pool Fund

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Fairway America, a Portland, Oregon-based real estate asset based advisory and investment firm, announced today the formation of the 212 Asset Fund (“212”) out of Houston, Texas.

212 Asset Fund Logo

212 Asset Fund Logo

After meeting and talking with the Fairway America team, I knew their experience and expertise where second to none in this space.

Fairway America, LLC (“Fairway”), a Portland Oregon based real estate asset based advisory and investment firm, announced today the formation of the 212 Asset Fund (“212”) out of Houston, Texas. 212 will be managed by real estate finance veterans Tom Kenney, Mike Rebescher and Scott McClellan.

212 is the latest 506 Regulation D fund Fairway has facilitated for clients from all over the United States, including Columbus, OH; Boston, MA; Los Angeles, CA; Austin, TX; Dallas, TX; Charlotte, NC; San Francisco, CA; New York, NY; Minneapolis, MN; and more.

Kenney’s origination company, ISB Capital, is one of Texas’ leading private money lenders originating construction and rehab loans for residential property investors throughout Texas and the Southeast. He wanted to establish the fund in order to be able to expand his operations into other targeted markets around the United States, including Atlanta, GA; Minneapolis, MN; and Denver, CO.

Kenney met Fairway executives at the American Association of Private Lenders (AAPL) conference in 2012 and attended Fairway’s Private Lending Summit in 2013 before hiring Fairway earlier this year to help him structure and create his first pooled investment fund.

“After meeting and talking with the Fairway team, I knew their experience and expertise where second to none in this space,” said Kenney. “It was very important to me to do this fund the right way from the very beginning, which is the main reason I engaged Fairway. I am very glad I did.”

212 will also leverage Fairway’s expertise to handle the ongoing back-end administration for the Fund’s activities in order to concentrate on origination, construction monitoring, and asset management.

“Our construction loan operations and processes are very detailed and sophisticated,” said Kenney. “I felt that Fairway’s fund administration would bring those same disciplines to the administration side so we can feel confident when dealing with our investors.”

Fairway’s CEO Matt Burk sees this as a major trend among Fairway’s clients and, given his long background in running pooled investment funds, he completely understands why. “Really knowing the ins and outs of administering a pooled investment fund takes many years,” said Burk. “This is one of the main areas of concern, along with raising capital, that most potential fund managers have going into a new fund. Our administration services are designed to eliminate that fear and make it easy for our clients.”

Burk was very impressed with Kenney during his interactions with Kenney over the course of the engagement. “Tom had an excellent overall grasp of his business model and the direction he wanted to take his fund,” said Burk. “We had a lot of back and forth on his strategy and an appropriate structure for that strategy, and Tom consistently demonstrated an understanding of the issues as we put everything together. Clients like 212 are what makes this business fun.”    

About Fairway America
Fairway America, LLC is a longtime real estate lender, fund manager and boutique real estate finance advisory firm providing strategic business planning services nationwide to select private money lenders and real estate asset based deal makers around the structure, architecture, and administration of proprietary 506 Regulation D mortgage pool and real estate based funds. Fairway America Fund VI, LLC and Fairway America Fund VII, LP make both debt and equity investments in small balance real estate based funds and assets around the United States and accept accredited investors only.

212 was founded by the principals of ISB Capital, LLC and Networth Realty USA, LLC. These entities have been significant players in the field of real estate investment lending in TX and the southeastern part of the United States for the last several years. Specializing in financing real estate investment loans, the management of these companies have originated and/or purchased loans throughout the United States for the last twenty years. 212 is a 506 Regulation D fund that accepts accredited investors from around the U.S. For more information, visit http://fairwayamerica.com/.

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Darris Cassidy
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