WEST PALM BEACH, Fla., March 18, 2025 (GLOBE NEWSWIRE) — Southern Realty Trust Inc. (“SRT” or the “Company”), a lender on the Tannenbaum Capital Group (“TCG”) Real Estate platform, today announced that it closed on a $15.5 million commitment to a $62.0 million senior loan originated by the TCG Real Estate platform to refinance The Bohéme, a Class-A Multifamily asset in Dallas, TX (“Bohéme” or “Property”), with $14.7 million of the SRT commitment funded at closing. The remaining $46.5 million of the total loan is held by an affiliate on the TCG Real Estate platform. The sponsor, Kairoi Residential (“Kairoi”), is a top-tier vertically integrated investment, development, and property management company specializing in Class-A+ urban multifamily projects. Since 2003, Kairoi has transacted on $9.8 billion with projects comprising over 69,000 multifamily units across 20 metro areas in the U.S.
Completed in 2023, the Bohéme is an eight-story Class-A multifamily rental community located across from Lake Cliff Park in the heart of the Bishop Arts District in Dallas. Residents at the Property enjoy a rooftop pool with skyline views, a WFH lounge with private meeting rooms, a game lounge, and expansive courtyards. The newly delivered Bohéme features 352 modern apartments outfitted with keyless entry, quartz countertops, large walk-in closets and high-end appliances.
“With its prime location near shopping, dining, museums, transit, and major roadways—paired with its relative affordability—this Property is exceptionally well-positioned and aligns perfectly with the needs of one of the fastest-growing demographics in a high-growth region,” said Alfred Trivilino, who joined the TCG Real Estate platform as a Managing Director in January. Trivilino added, “I’ve worked with the principals of Kairoi for 20+ years and their track record and specialization in urban Class-A multifamily provide us with total confidence in their ability to execute and deliver.”
Daniel Zunker, Principal at Kairoi Residential, commented, “Bishop Arts is so cool and continues to be one of Dallas’ most unique, amenity-rich districts. We love being in the neighborhood and we appreciate TCG’s role in helping Kairoi transition the capital stack to allow us to be a part of Bishop Arts for years to come.”
About Southern Realty Trust Inc.
SRT was formed in 2023 to originate commercial real estate (“CRE”) debt investments in the Southern U.S. and provide capital to high-quality borrowers and sponsors with transitional business plans collateralized by top-tier CRE assets with opportunities for near-term value creation, as well as recapitalization opportunities. SRT intends to create a diversified investment portfolio, targeting first mortgages, B-notes, mezzanine loans and debt-like preferred securities across CRE asset classes. For additional information regarding the Company, please visit: www.theSRTgroup.com.
About TCG Real Estate
TCG Real Estate refers to a group of affiliated CRE-focused debt funds, including a Nasdaq-listed mortgage REIT, Sunrise Realty Trust, Inc. (NASDAQ: SUNS), and a private mortgage REIT, Southern Realty Trust, Inc. The funds provide flexible financing on transitional CRE properties that present opportunities for near-term value creation, with a focus on top-tier CRE assets located primarily within markets in the Southern U.S. benefitting from economic tailwinds with growth potential.
Forward-Looking Statements
Certain statements contained in this press release, including those that express a belief, expectation or intention, as well as those that are not statements of historical fact, are forward-looking statements. The Company’s forward-looking statements are generally accompanied by words such as “intend,” “will,” “estimate,” “project,” “predict,” “believe,” “expect,” “anticipate,” “potential,” “plan,” “goal” or other words that convey the uncertainty of future events or outcomes. Statements, among others, relating to the Company’s beliefs with respect to the Project’s positioning in the market, and cash flows and returns related to investments in hospitality real estate projects are forward-looking statements. Forward-looking statements contained in this press release speak only as of the date of this press release. The Company disclaims any obligation to update these statements unless required by law, and the Company cautions you not to rely on them unduly. The Company has based these forward-looking statements on its current expectations and assumptions about future events, which the Company considers reasonable. However, these forward-looking statements are inherently subject to significant business, economic, competitive, regulatory and other risks, contingencies and uncertainties, most of which are difficult to predict and beyond the Company’s control. Actual results and performance in the future could differ materially from those set forth in or implied by such forward-looking statements.
Investor Relations Contact
Robyn Tannenbaum
561-510-2293
ir@thetcg.com
Media Contact
Profile Advisors
Rich Myers & Rachel Goun
347-774-1125
srt@profileadvisors.com
