Pender Real Estate Credit Fund
PNDRX
NASDAQ- -
USD
- -
- -
Capital Structure
FRC
•
in mil. unless spec.Working Capital
FRC
•
in mil. unless spec.Growth Rates
FRC
•
in mil. unless spec.Quarterly Revenue
FRC
•
in mil. unless spec.Quarterly Earnings Per Share
FRC
•
in mil. unless spec.Quarterly Dividends Per Share
FRC
•
in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management
- Address
- United States of America
- IPO Date
- May 17, 2023
- Website
- pendercapitalfunds.com
- Similar Companies
- Business
- Pender Real Estate Credit Fund (PNDRX) operates as a non-diversified, closed-end interval fund registered under the Investment Company Act of 1940 that seeks risk-adjusted current income and capital preservation through real estate-related credit investments secured predominantly by first-lien commercial real estate collateral located in the United States. The Fund originates, underwrites, and services short-term bridge loans targeting the lower middle market, with a focus on high-quality assets in the Sunbelt and other key flyover regions; it provides monthly distributions as a fixed income alternative, features daily share purchases with quarterly repurchase offers, offers lower minimum investments without accreditation requirements, and holds qualified REIT status for potential tax advantages via 1099 reporting. Managed by Pender Capital Management, L.P., whose parent firm Pender Capital Management, LLC was founded in 2015 and maintains headquarters in Dallas, Texas, with additional offices in Los Angeles, California, the Fund primarily serves individual investors, financial advisors, and institutional clients seeking private credit exposure. In 2024, the Fund expanded distribution by adding listings on major advisor platforms including Pershing Advisor Solutions, Schwab, and Fidelity; it closed 15 loans totaling $245.4 million across the year, ending with 37 active loans worth $504.1 million against $833.5 million in collateral value and zero delinquencies or defaults. Entering 2025, the portfolio grew to 38 active loans totaling $518.4 million as of March 31, with three Q1 closings of $20.4 million, continued strong origination pipeline from $3 billion in financing requests, and two full payoffs amid heightened market demand for private lending amid bank constraints.