A New York-based alternative investment firm, Saluda Grade, has announced the acquisition of Hillcrest Finance, a prominent minority- and women-owned company specializing in commercial real estate. This move follows an initial passive minority investment made by Saluda Grade in Hillcrest in June 2024. The acquisition aims to enhance Saluda Grade's asset-based finance portfolio while maintaining its focus on residential real estate. By integrating Hillcrest's expertise, Saluda Grade plans to expand its reach into the commercial real estate sector. Hillcrest Finance was co-founded by Kathleen "Kathy" Corton and Sharon Ann "Samm" Miller, who bring extensive experience in institutional commercial real estate investments. The merger increases Saluda Grade’s assets under management to $2.5 billion as of May 31, 2025.

Hillcrest Finance's leadership praises Saluda Grade's commitment to innovation and client service. The two firms have developed a strong collaborative relationship over the past year, which they aim to continue and strengthen post-acquisition. This strategic partnership is expected to allow both entities to leverage their complementary strengths, providing enhanced solutions for clients across the U.S. real estate landscape. The acquisition not only signifies growth but also emphasizes the importance of diversity and inclusion within the financial industry.

Enhancing Commercial Real Estate Expertise

Saluda Grade's acquisition of Hillcrest Finance represents a significant enhancement to its commercial real estate capabilities. While continuing to prioritize residential investments, this move broadens the firm's scope and strengthens its position in the market. By incorporating Hillcrest's specialized platform, Saluda Grade can now offer more comprehensive solutions to its clients, accessing opportunities across various asset classes nationwide.

The integration of Hillcrest Finance into Saluda Grade brings with it a wealth of expertise and a proven track record in commercial real estate. Founded by Kathleen "Kathy" Corton and Sharon Ann "Samm" Miller, Hillcrest has established itself as a leader in this field. Corton and Miller collectively bring over 35 years of experience, having held senior roles at prestigious institutions such as Nomura, TIAA-CREF, and J.P. Morgan Asset Management. Their involvement ensures that Saluda Grade gains access to seasoned professionals capable of navigating complex transactions and identifying lucrative investment opportunities. This synergy between the two firms will undoubtedly elevate Saluda Grade's standing in the commercial real estate sector.

Promoting Growth Through Collaboration

The acquisition aligns perfectly with Saluda Grade's mission to foster growth through collaboration. Hillcrest Finance's team, renowned for its innovative approach and dedication to client service, seamlessly integrates into Saluda Grade's operations. This transition not only preserves Hillcrest's unique investment strategy but also allows its team to thrive within a larger, more dynamic organization. As a result, Saluda Grade positions itself as a formidable player in both residential and commercial real estate markets.

Sharon Ann "Samm" Miller highlights Saluda Grade's alignment with Hillcrest's core values, particularly its emphasis on client-focused innovation. The acquisition enables Hillcrest's team to grow and develop further, leveraging Saluda Grade's resources and network. Kathleen "Kathy" Corton echoes this sentiment, expressing excitement about building and scaling a synergistic commercial real estate platform. Over the past year, the two teams have demonstrated excellent compatibility, fostering a collaborative environment that promises continued success. With combined assets under management reaching $2.5 billion, Saluda Grade solidifies its role as a leading force in the U.S. real estate landscape, promoting inclusivity and diversity in the financial sector. This strategic partnership exemplifies how combining strengths can lead to mutual growth and benefit stakeholders across the board.