SBL is a limited partnership that was established in the Cayman Islands in January 2017 by IBI Investment House. It started operating in April 2017. The fund’s team includes 8 employees and receives back-office services from IBI Investment House, as well as relies on its infrastructure. Through its 3 years of operations, the fund has granted 1,576 loans and as of October 2020, its investment portfolio includes 585 loans.
The fund invests in short-term mortgage lending (average of 10 months) for U.S. residential and commercial real estate developers, in exchange for first-degree mortgaging of the property, through the purchase of loans from dedicated online platforms in the U.S. The loans have an average LTV ratio of 65% -70% and usually include in addition to the mortgage also a personal guarantee from the developer.
