Thrive Launches $50M Debt Fund Serving Texas Investments

AUSTIN, TEXAS — Thrive FP, an Austin-based commercial real estate investment and lending firm, is launching a new, $50 million fund as part of an effort to boost its private lending business throughout Texas. Thrive FP created the subsidiary Thrive Lending Fund LLC to manage and oversee its private lending and debt business. Justin Brogna, a banking industry executive with 19 years of experience, will run the operations. Since its inception in 2007, Thrive FP and its affiliates have invested over $100 million in debt and equity with over $350 million of real estate purchased. Thrive and its affiliates hold interests in over 4,000 apartment units that are valued at over $225 million and have lent more than $65 million in private money loans.