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Financial Solutions
for Commercial Real Estate.
Sunrise Realty Trust (NASDAQ: SUNS) is an institutional lender that originates and funds loans to commercial real estate projects in the Southern United States. We provide a portfolio with no legacy assets. SUNS takes a patient capital approach to investing, while targeting opportunities for potential value creation. With a disciplined investment process and a commitment to fostering lasting partnerships, we offer flexible and timely financing solutions tailored to the unique needs of each business.
Location: Palm Beach Gardens, FL
Featured
Property: Panther National
Description: Panther National is a distinguished 392-acre gated community featuring approximately 242 residences with an 18-hole championship golf course designed by golf legends Jack Nicklaus and Justin Thomas.
Size: $160 Million
Senior Credit Facility
Location: Palm Beach Gardens, FL
Deal Criteria
Our Geographic Concentration
Target Markets
Florida
Georgia
Texas
North Carolina
South Carolina
Tennessee
Washington, D.C.
Asset Classes
Multifamily
For-Sale Condominiums
Industrial
Retail
Office
Hospitality
Select Specialty-Use
Use of Capital
Ground-Up Development
Acquisition
Renovations
Repositions
Adaptive Reuse
Liquidity Recapitalization
Non-Cash Flowing Assets
Bridge-to-Stabilization
Cash Flowing Assets
Performing Loans
Non-Performing Loans
HoldCo Loans
Other Special Situations
Portfolio Financing
Whole Loans
Loan Amounts:
$75MM-$250MM+
Interest Rate: 8%+
Term: 3-5 years
Structures: 1st Mortgages
Leverage: Up to 75% LTC
Subordinate Debt
Loan Amounts:
$15MM-$100MM+
Interest Rate: 12%+
Term: 3-5 years
Structures: Subordinate,
Preferred Equity
Leverage:
Up to 75% LTC
Max Senior to Subordinate
Debt of 4:1
The Advantages
of a REIT
SUNS is a real-estate investment trust which gives investors access to income generating commercial real estate investments.
Why SUNS?
Sunrise Realty Trust provides an ideal vintage with no legacy assets in the portfolio. SUNS takes a patient capital approach to investing, targeting opportunities with clear potential for value creation that meet a defined set of investment criteria. The firm believes that CRE debt markets today present a significant opportunity to capitalize on market dislocations precipitated by rising interest rates, declining liquidity, and retrenchment of banks from CRE lending. SUNS takes into account the impact COVID had on U.S. migration patterns. The Southern United States benefitted from increased population and employment growth, which in select key Southern cities is outpacing the rest of the United States. With an experienced, cycle-tested leadership team, SUNS is well-positioned to capitalize on these market opportunities.
Strategic Focus
Strategically focused on the Southern U.S., we capitalize on the region’s burgeoning economic opportunities fueled by rapid population and employment migration trends. Our resident expertise and strong network provide us with unparalleled access to opportunities.
Disciplined Approach
We implement a robust investment process characterized by high-quality originations, methodical due diligence, specialized structuring, and continuous monitoring. This approach places a strong emphasis on credit discipline at every stage of the cycle, from sourcing opportunities to managing the portfolio.
Partnership Mentality
We strive to cultivate lasting partnerships with our borrowers, sponsors and investors. Sunrise Realty Trust’s customized approach for structuring deals and fostering relationships allows us to provide flexible and timely financing solutions tailored to the unique needs of each business.
LEADERSHIP
The management team has decades of experience investing in commercial real estate and structured credit.
525 Okeechobee Blvd., Suite 1650, West Palm Beach, FL 33401 | 561.510.1919
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SUNS, IN ITS SOLE DISCRETION, MAY TERMINATE YOUR ACCESS TO OR UTILIZATION OF THE WEBSITE FOR ANY REASON WITH OR WITHOUT PRIOR NOTICE.
Leonard M. Tannenbaum, CFA
Executive Chairman
A macro investor focused on credit for more than 25 years, Len Tannenbaum has underwritten over $10 billion of loans and has taken four entities public. Len has a depth of knowledge in permanent capital vehicles as well as many other SPV’s (special purpose vehicles) such as BDC’s, Hedge Funds and CLO’s.
At the age of 27, he founded Fifth Street Capital out of a two-room office he rented in White Plains, NY, and created an alternative credit asset manager with a nationwide platform with over 150 employees and offices in Palo Alto, Chicago, and Connecticut. Fifth Street was a flexible alternative lender providing capital to developing middle market businesses in all industries. Fifth Street managed $5 billion of assets across multiple private investment vehicles and three publicly traded companies, including two BDC’s (business development companies). After the sale to Oaktree Capital Management in 2017, Len founded his family office which currently manages and allocates capital across varying strategies.
During the pandemic Len founded the REIT, AFC Gamma, Inc. (NASDAQ: AFCG) a publicly traded, institutional lender that originates, structures, and underwrites loans secured by commercial real estate. In addition, it also specializes in loans to state-licensed cannabis operators.
Raised on Long Island to a Cuban exile mother with a background in education and a father who was the managing partner for a law firm, Len was destined to be driven. He graduated from The Wharton School of the University of Pennsylvania, where he received a B.S. in economics and an MBA in Finance as part of a sub-matriculation program. He holds the Chartered Financial Analyst designation.
As a proud Cuban American, he served as a member of the US Senate Republican Task Force on Hispanic Affairs chaired by Senator Orrin G. Hatch and was also a part of the pro-business Cuban Chamber of Commerce promoting the advancement of commercial, industrial, and civic interests.
He is a member of The Wharton Graduate Executive Board, Young Presidents Organization, Family Office Principals Group and Menorah Partners.
Len is an active philanthropist with a special interest in preserving wildlife, helping children, and continuing the development of an entrepreneurial mindset.
He also supports the Jewish Federation of Palm Beach, The Wharton School of the University of Pennsylvania, Yo Soy Ella, P.A. CASA (Pennsylvania Court Appointed Special Advocates for Children), Corners Outreach, Chess in the Schools and The Palm Beach Zoo and Conservation Society.
Robyn Tannenbaum
Partner, President
Robyn Tannenbaum began her career in the investment banking healthcare division at CIT Group in honor of her late father, a cardiologist, and her mother, a nurse, with the goal of helping others live longer, healthier lives. She held many positions at CIT Group, primarily focusing on mergers & acquisitions and leveraged finance transactions for middle market healthcare companies. She graduated Summa Cum Laude from Lehigh University with a B.S. in Finance, concentration in Marketing and Public Relations. Mrs. Tannenbaum successfully managed three publicly traded entities while serving Fifth Street Asset Management as the Executive Director and Head of Investor Relations. Robyn was featured in NASDAQ’s Intro to an IRO (Investor Relations Officer) series. She was named IR Executive of the Year, IR Champion of the Year and Emerging Leader for Marketing, Communication and Business Development by the PR awards.
Brian Sedrish
Partner, Chief Executive Officer
Mr. Sedrish has over 20 years of leadership experience within real estate private equity, focusing on institutional commercial real estate opportunities. Formerly a Managing Director and Portfolio Manager at Related Fund Management (“RFM”) and the Head of Commercial Real Estate Acquisitions Special Situations for Deutsche Bank.