Slate closes $1B account for East Coast residential lending

Slate Property Group has closed a new Separately Managed Account (SMA) with up to $1 billion in capital to originate lower-leverage senior secured residential construction and bridge loans. The account will primarily fund residential developments in high-growth, transit-oriented East Coast markets.

The SMA expands Slate's debt offerings by adding new leverage and pricing options across the capital stack. Slate said it aims to strengthen borrower relationships and broaden its market reach.

The move marks what co-founder and principal Martin Nussbaum called "a logical next step in our company's continued evolution." He added that the new offering would let Slate "serve even more borrowers and continuing to catalyze new residential growth."

The SMA's first investment was a $45 million senior-secured construction loan, which closed in July 2026. It funds the ground-up construction of an 11-story, 72-unit building at 264-272 West 135th Street in Harlem, New York, developed by Mass Development.

Founded in 2013, Slate has invested more than $10.1 billion across equity and credit and employs over 130 people. The new SMA deepens its push into lending, a growing focus as the firm diversifies beyond its multifamily ownership and development roots.