The Fund Accredited investors only
Senior real estate debt, first in line.
The Riva Real Estate Credit Fund is a single allocation into a portfolio of first-lien loans we originate, underwrite, and service ourselves — paired with discounted notes our workout team resolves in-house.
- 9–11%*Target net annual return
- $250M+Originated on our platform
- 65%*Weighted-avg LTV at origination
- 0Principal losses to date
Strategy
Two engines. One disciplined strategy.
Every dollar in the fund goes to work in one of two places — both secured by real property, both underwritten by the same team, on the same platform that writes our own loans.
Loans we wrote, on terms we set
The core of the portfolio is first-lien bridge and DSCR loans originated through Riva's own lending platform. We price them, underwrite them, and service them — so there is no third-party origination risk and nothing in the file we haven't seen ourselves.
- First-lien position on every loan
- Conservative LTVs with real equity cushions
- Short 6–24 month durations
- Interest collected monthly, distributed monthly
- Serviced in-house from close to payoff
Notes bought at a discount, resolved in-house
We also acquire non-performing first mortgages below the value of the property behind them. Our resolution team works each file directly — modification, reinstatement, or deed in lieu — and the discount we bought at is where the upside comes from.
- Acquired below collateral value
- Worked out by our own resolution team
- Multiple exit paths on every file
- Underwritten to the property, not the borrower
- Deliberately a minority of the portfolio
Portfolio
Capital preservation is the first line item.
Yield is what's left over once the risk work is done. Here's how the book is built, and what sits underneath it.
Portfolio composition
Target allocation across the fund's four buckets.
Target ranges, not fixed weights. Actual composition moves with what we're originating and what's available to buy.
What we lend against
- Single-family rentals and 2–4 unit residential
- Small-balance multifamily
- Mixed-use and light commercial
- Renovation and value-add projects
- Non-owner-occupied, business purpose only
First lien, every time
The fund does not buy second positions or mezzanine paper. If a loan goes sideways, we are first in line against the property.
Equity cushion before yield
We size loans to the collateral, not to the borrower's optimism. The gap between our loan and the property's value is the first thing that absorbs a bad outcome.
Underwritten under our own roof
Pricing, underwriting, servicing, and workouts all happen in-house. Nothing is bought sight-unseen from a correspondent or a broker channel.
Our capital sits beside yours
Riva's principals invest their own money in the fund, on the same terms as every other limited partner.
- First-lien focus
- Conservative LTVs
- 0 principal losses to date
- Monthly distributions
Terms
The offering at a glance
Most funds make you ask. Here is the shape of the structure before you pick up the phone — the binding detail lives in the offering documents.
- Structure
- Delaware limited partnership
- Eligibility
- Accredited investors only
- Minimum investment
- $50,000
- Target net return
- 9–11%* annually
- Preferred return
- 8%*
- Distributions
- Monthly — cash or reinvested
- Liquidity
- 12-month lockup, then quarterly on 90 days' notice
- Management fee
- 1.5% of assets, annually
- Performance fee
- 20% above the preferred return
- Collateral
- First-lien real estate
- Reporting
- Monthly statements, annual audit, Schedule K-1
- Administration
- Third-party administrator, independent annual audit
* Target and illustrative figures only. Targets are not guarantees, are not based on actual past performance, and may not be achieved. The terms above are a summary for discussion; the private placement memorandum, limited partnership agreement, and subscription documents govern in all cases and control in the event of any conflict. Request the offering materials
Process
How to invest
Four steps, with a person on the other end of every one of them.
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Introductory call
Tell us what you're looking for. We'll walk through the strategy, what's currently in the book, and whether the fund is actually a fit — no script, no pressure.
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Review the materials
We send the private placement memorandum, the partnership agreement, and current portfolio reporting. Take the time you need, and bring your advisor.
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Verify and subscribe
Complete accreditation verification and sign the subscription documents electronically, then wire your commitment to the fund's administrator.
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Start receiving distributions
Your capital is deployed into the portfolio and distributions begin the following month — paid out in cash or reinvested, whichever you choose.
Questions
What investors ask us first
If yours isn't here, call and ask. A real person answers, usually the same day.
Interests are offered only to accredited investors as defined under Regulation D of the Securities Act. In practice that generally means individual income above $200,000 — or $300,000 jointly — for the last two years, or a net worth over $1 million excluding your primary residence. Certain professional licenses and entity thresholds also qualify. Accreditation is verified before any subscription is accepted.
Into loans sourced through Riva's own lending platform. When you subscribe, your capital joins the pool that funds new first-lien originations and acquires discounted notes. You are not picking individual deals — that is what our Real Estate Notes program is for. The fund is the diversified version, spread across the whole book.
Monthly. Borrowers pay interest on their loans, the fund nets out expenses, and what remains is distributed to limited partners. You can take distributions in cash by ACH or reinvest them to compound your position — you choose at subscription, and you can change it later.
The same team that underwrote it works it out. Because every loan is first-lien and sized to leave an equity cushion, there is room to negotiate — a forbearance, a modification, a payoff, a deed in lieu, or foreclosure if it comes to that. Working out distressed paper is how Riva started, so this is core competence rather than an emergency.
A third-party fund administrator calculates net asset value on a set schedule, and the financials are audited annually by an independent firm. Performing loans are generally carried at amortized cost; non-performing notes are marked with reference to the collateral behind them and their resolution status.
An annual management fee on assets, plus a share of profits above the preferred return — so we earn the performance piece only after investors have received their preferred return first. Full fee detail, including how fund expenses are allocated, is set out in the offering documents.
Not on demand. Your commitment is locked for an initial period, after which redemptions are processed quarterly with advance written notice. The underlying loans have real durations, and the lockup exists so the fund is never forced to sell a good loan at a bad price to fund a withdrawal. Treat this as an illiquid allocation.
A monthly statement showing your capital balance, distributions, and fund-level performance; a periodic portfolio letter covering what we originated, what paid off, and anything on the watch list; annual audited financials; and a Schedule K-1 for your tax filing.
Get started
Request the fund materials
Tell us a little about what you're looking for and we'll send the offering documents and current portfolio reporting — or just set up a call.
Talk to the fund team
You'll deal with the people who underwrite the loans — not a call centre, and not a gatekeeper.
455 Boston Post Rd
Old Saybrook, CT 06475
Monday–Friday, 9am–5pm EST
What happens next
- We reply within one business day.
- You receive the offering documents and current portfolio reporting.
- We set up a call with the fund team whenever you're ready.
This page is for informational purposes only and does not constitute an offer to sell or a solicitation of an offer to buy any security. Any such offer is made solely through the fund's private placement memorandum and related subscription documents, which should be read in full before investing. Interests in the Riva Real Estate Credit Fund are offered exclusively to accredited investors. An investment in the fund is illiquid, there is no public market for interests, and investors should be prepared to hold for the full term. Real estate credit involves risk, including possible loss of principal. Targets and forward-looking statements are not guarantees and may not be achieved. Past performance is not indicative of future results. Riva Lending does not provide investment, legal, or tax advice; consult your own advisors.