Blue Light Capital brings on Needham Point Capital founders to expand lending platform

Blue Light Capital, a commercial real estate investment firm with a heavy presence in New Jersey founded by Michael Tepedino, announced that Needham Point Capital’s Jeremy Burton and Tristine Lim have joined the firm to lead the newly created Blue Light Credit. Burton joins as a partner and head of originations, and Lim joins as head of credit and underwriting.

Blue Light Credit will fill a growing void in the middle-market commercial real estate lending market as $2 trillion in debt matures over the next three years, while fewer institutions are providing capital, and bank lending has dropped by 55% in the past year.

As part of the new venture, RoeCo Holdings LLC’s Greg Manocherian has also joined Blue Light Credit as a partner. Manocherian and his team bring more than three decades of real estate experience, including direct lending, acquisition, development and management of commercial and residential assets. By partnering with RoeCo, Blue Light Credit can more effectively execute on transactions, while also positioning the company to more effectively manage assets through distressed situations.

Blue Light Capital was established in September 2023 to provide flexible equity and debt capital solutions to real estate investors. In a strategic reaction to changes in the marketplace, Blue Light Credit will specifically focus on originating bridge loans for both transitional and core assets, and on acquiring distressed notes ranging from $15 million to $75 million across all asset classes, nationwide. The company is targeting $300 to $500 million in transactional volume in the coming year, increasing thereafter.

“We are pleased to welcome Jeremy and Tristine, who have 36 years of collective experience originating and acquiring commercial real estate loans,” Tepedino, founder of Blue Light, said. Tepedino was one of the leading commercial real estate capital markets intermediaries in the U.S. for over two decades and an original partner at HFF who most recently oversaw northeast capital markets for JLL with management responsibility for 300 employees. “Blue Light will provide critical liquidity to a host of different real estate sectors at a time when fewer lenders are active in middle-market financing.”

“Joining Blue Light enables the Needham Point Capital team to expand our investment mandate and engage in a wider range of opportunities,” Burton said. “Blue Light’s owner-operator background and capabilities provide a complementary advantage to our team, allowing us to be smarter lenders and investors.”

“With Burton, Lim and RoeCo, we bring together the best of the best, combining long-term origination and credit capabilities with a deep understanding of the ownership side of the business,” Tepedino said. “We have added significant depth, expertise and a proven track record to the team, positioning the firm to fill the current liquidity gap in this marketplace.”