Alex Horn is the Managing Partner and Founder of BridgeInvest, where he leads the firm’s investment strategy and long-term growth initiatives. Under his leadership, BridgeInvest has grown into a nationally recognized private real estate lender with more than $1.4 billion in assets under management. Over the past decade, Alex has overseen the portfolio management of five private equity funds and successfully deployed $2.5 billion across more than 150 transactions, building a track record of disciplined lending and consistent performance.

As we look to the remainder of the year, we see private credit playing an increasingly central role in CRE lending, not just as an alternative to banks but as a primary source of capital for sponsors navigating a complex environment.

Before launching BridgeInvest, Alex worked at SecondMarket, where he helped develop new business lines and supported firmwide strategic initiatives. He earned recognition as a South Florida Business Journal “40 Under 40” award recipient and holds a Bachelor of Arts in Economics from Columbia University.

BridgeInvest recently surpassed $1 billion in assets under management. What does that milestone represent for you and the firm?

Surpassing $1 billion in AUM is a proud and defining moment for the BridgeInvest organization. It reflects the trust and confidence our investors have placed in us. In fact, we are proud of achieving a 90% LP reinvestment rate across five fund vintages, which stems from our 15-year track record of delivering consistently strong risk-adjusted returns.

This milestone also illustrates BridgeInvest’s evolution into a market leader in senior-secured CRE credit that is known for our reliable, transparent, and disciplined approach. It is also a testament to our team’s ability to execute our business plan across market cycles and sets the foundation for continued growth in our platform.

Over the past year you’ve doubled origination volume and expanded into new markets, including the Central U.S. and West Coast. Why focus on those regions, and what’s been driving that expansion?

Our expansion into the Central U.S. and West Coast reflects both opportunity and strategy. These regions offer portfolio diversification and attractive opportunities in high growth markets where traditional lenders have retreated, creating a gap that we believe BridgeInvest is well-positioned to fill. The expansion has been enabled by our team’s evolution and key hires: Isaac Marcushamer as General Counsel, who has worked as our outside litigator, and Danny Alvarez as Vice President of West Coast Originations, who will anchor our presence in these markets.

In the past 12 months, we reviewed $46 billion in deal flow and selectively invested $685 million across 18 transactions, which focused mostly on our transitional bridge lending program. Combined, our disciplined underwriting, selective growth, and institutional infrastructure, are fueling this geographic expansion and positioning us to capitalize on the $3 trillion of U.S. CRE debt maturing over the next five years.

With so much global uncertainty, from tariffs to shifting interest rates, how are you positioning BridgeInvest to navigate today’s lending environment?

At BridgeInvest, we see opportunities in uncertain macroeconomic environments and volatile markets. In fact, we believe these turbulent times can provide tailwinds for senior-secured CRE credit. Uncertainty surrounding tariffs, rising construction costs, and a historic wave of loan maturities, are pushing borrowers to partner with strong lenders who can provide bespoke credit solutions. Moreover, the widening funding gap, particularly for transitional CRE assets and borrowers facing refinancing cliffs, makes private capital an essential source of liquidity.

For investors, the current dislocation creates one of the rare opportunities where real yields significantly exceed fundamental credit risk: today we are sourcing loans at SOFR + 300-650 (7-9% all-in coupons) with first-lien priority and last-dollar exposure well below replacement cost. We remain disciplined, closing just 18 loans in the last 12 months out of over 1,000 reviewed, and are leaning into areas where volatility creates value, such as multifamily, office and industrial assets. Our approach combines structural protection with selective risk-taking, allowing us to safeguard capital and capture outsized, risk-adjusted returns in a market where banks are retreating, and borrowers need reliable partners.

Can you share a recent transaction that illustrates how BridgeInvest has been able to step in when traditional lenders pulled back?

In H1 2025, BridgeInvest closed $446 million across 11 loans. One recent transaction that comes to mind is a $21.5 million senior-secured loan on a 128-unit mixed-use project in downtown Atlanta developed by a repeat BridgeInvest borrower. Traditional lenders pulled back due to a delayed lease-up tied to staffing and amenity issues, despite strong underlying demand and the property’s prime location close to the Mercedes-Benz Stadium.

Our loan not only refinanced $22.5 million of existing debt but also funded reserves, TI/LCs, and closing costs, with the borrower contributing $2 million of fresh equity. The deal showcases how BridgeInvest can step in with tailored, flexible capital when banks retrench, supporting high-quality sponsors through transitional phases while capturing attractive risk-adjusted returns.

BridgeInvest is active across multiple sectors, but multifamily has been at the center of many industry conversations. How are you approaching that asset class today compared to just a few years ago?

Multifamily has historically been and remains a core focus for BridgeInvest: in H1 2025, BridgeInvest closed $250 million across six multifamily transactions. Recently, our approach to the asset class has shifted alongside market dynamics. The U.S. faces a 4.5-million-unit housing shortfall, yet supply-side pressures, tariffs on core construction materials, labor shortages, and higher debt costs, have pushed construction starts down nearly 70% from their 2022 peak, driving replacement costs higher.

Compared to a few years ago, when development pipelines were more robust, today’s constrained supply environment creates attractive lending opportunities where we can provide senior-secured, first-lien financing below replacement cost with conservative leverage. This dislocation makes our tailored capital solutions more valuable to borrowers and offers investors strong downside protection and compelling risk-adjusted returns in one of the most resilient CRE asset classes.

Industrial real estate continues to attract attention, especially with onshoring and supply chain shifts. What’s your outlook on the sector, and where do you see the best opportunities?

Industrial real estate has been a focal point for institutional investors since the COVID-19 pandemic, driven by e-commerce growth, nearshoring, and supply chain realignment. However, the sector is now experiencing short-term oversupply after years of aggressive development and cap rate compression. Vacancy rates have nearly doubled from 3.6% in 2022 to over 7% in 2025, and rent growth has slowed.

Nevertheless, we view this backdrop as an opportunity to lean into the sector. By lending at conservative leverage and below replacement cost, BridgeInvest can provide senior-secured financing to high-quality sponsors while protecting downside risk. Longer term, onshoring and supply chain realignment should absorb excess supply in core markets, and history shows we have outperformed in similar dislocations, such as Houston during the 2015 oil shock and the Northeast during the COVID-19 pandemic.

Looking ahead to the remainder of the year and into Q4, what do you expect for private credit and CRE lending, and how is BridgeInvest preparing for what’s next as you expand further west?

As we look to the remainder of the year, we see private credit playing an increasingly central role in CRE lending, not just as an alternative to banks but as a primary source of capital for sponsors navigating a complex environment. Investor demand for yield remains strong. Our focus remains on capturing opportunities where our underwriting expertise and execution speed add value, particularly as we extend our reach to new markets.

With a robust originations across the country, presence in the west coast, we are positioned to build new sponsor relationships and selectively deploy capital in markets where volatility is opening attractive entry points. This is less about chasing volume and more about positioning BridgeInvest as the reliable, solutions-oriented partner borrowers partner with during in times of uncertainty.

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