Saluda Grade completed the acquisition of a passive minority stake in Hillcrest.

Saluda Grade, an alternative investment firm specializing in asset-based finance with a focus on residential real estate, completed the acquisition of a passive minority stake in Hillcrest, a minority- and women-owned investment firm with expertise in commercial real estate. Financial terms were not disclosed. "Saluda Grade sees a compelling opportunity in commercial real estate finance over the next three years, especially across the multifamily property sector. We are excited that the partnership with Hillcrest will bring significant CRE knowledge into our currently residential focused ecosystem, while allowing Hillcrest to benefit from SG’s capital markets and securitization platform with a goal of creating a joint CRE CLO issuance program in the future," Ryan Craft, Saluda Grade Founder and CEO.