Sachem Capital Corp. Completes 20% Investment in Shem Creek Capital LLC to Further Diversify Business Model
Sachem Capital Corp. Common Shares (SACH)
NASDAQ:AMEX Investor Relations:
sachemcapitalcorp.com
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Source: GlobeNewswire
BRANFORD, Conn., Sept. 11, 2024 (GLOBE NEWSWIRE) -- Sachem Capital Corp. (NYSE American: SACH) announced today it has acquired a 20% membership interest for $5 million in Shem Creek Capital, LLC, the third-party management company of the Shem Creek (“Shem”) private credit funds. Sachem also has the option to acquire up to an additional 10% membership interest in Shem, by early 2027, at a set valuation. Shem, established in 2008, is a commercial real estate finance company with a focus on providing debt capital solutions to local and regional commercial real estate owners in the Northeastern United States. Shem invests primarily in first mortgage loans secured by commercial real estate assets, notably value-add multifamily, workforce housing, and industrial properties. John Villano, CEO of Sachem Capital Corp., commented: “Over the past four years, Sachem has invested approximately $47 million with Shem, which is currently generating attractive double-digit returns, with no losses t
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SACH
Earnings
- 8/14/24 - Miss
SACH
Sec Filings
- 11/4/24 - Form SC
- 10/28/24 - Form 8-K
- 10/2/24 - Form 8-K
- SACH's page on the SEC website