The Ardent Companies, a $1.5B AUM real estate asset management and investment platform, announces the hiring of industry leader Christopher T. Kelly.

Kelly has over 30 years’ experience in commercial real estate investment and risk management, with direct responsibility for more than $12B in originations. He will be tasked with accelerating the development and strategic growth of Ardent’s debt strategies alongside Managing Director Daniel Siegel, and will introduce a complementary value-add bridge debt product to the platform.

“The addition of a deeply experienced and skilled real estate professional like Chris to the team will significantly accelerate our growth and positively impact our ongoing development of attractive financial solutions to our partners, clients, and shareholders,” said Ardent CEO Matt Shulman.  “This important hire speaks loudly to Ardent’s commitment to developing and expanding our talented team with best-in-class professionals like Chris.”

Kelly joins the firm after four years as Managing Director and Head of CRE Lending at Amherst Capital Management where he oversaw Amherst’s real estate credit business. Prior to that, he held similar roles at CapitalSource, a commercial mortgage unit of Pacific Western Bank, and Natixis. Kelly’s focus at Ardent will support the further expansion of Ardent’s existing transitional credit funds and direct equity investment businesses, as well as extend the reach of the firm’s national borrower-sponsor relationships.

“Having a long-standing relationship with the Ardent team, I am honored to be part of a dynamic and entrepreneurial firm,” says Kelly.  “I’m excited to join the business and help advance Ardent’s longstanding commitment to delivering smart, strategic financial solutions to our clients”

Ardent Financial is taking steps to expand its bridge-lending program.

The unit of Atlanta-based Ardent Cos. has traditionally pursued debt and preferred-equity investments in construction projects, redevelopments and transitional properties. But now the investment manager also wants to target value added, core-plus and opportunistic plays involving more stabilized properties, said newly hired managing director Christopher Kelly.

After four years at bridge lender Amherst Capital, Kelly came aboard this week to spearhead the initiative. Based in New York, he reports to Ardent chief executive Matthew Shulman.

“We want to expand our product line to reach a broader group of institutional borrowers and investors,” Kelly said.

Since its formation in 2015, Ardent Financial has raised capital mostly from wealthy individuals and family offices. Without using a placement agent, the firm has taken in $205 million of equity for its latest investment vehicle, Ardent Financial Fund 3. Investors are hearing the fund is on track to reach its $250 million equity goal by the end of March. The marketing campaign for Ardent’s next fund could begin in the second quarter.

The average size of Ardent’s bridge loans is about $15 million. “We’ve been growing at a pretty good clip, both in our ability to raise capital and in originations,” said managing director Daniel Siegel, who oversees investments. “Having Chris [Kelly] here will help even more by expanding our market coverage.”

Kelly was a managing director and head of commercial real estate originations at Amherst, a New York investment manager that was launched in 2015 as a joint venture between BNY Mellon and Amherst Holdings. In 2018, BNY converted its majority stake in the joint venture into a minority interest in Amherst Holdings.

Kelly previously held a similar post at CapitalSource, a commercial-mortgage unit of Pacific Western Bank. He worked at Natixis and Lehman Brothers before that.