- Founded in 2020, Module Five Capital is a New York-based real estate debt platform focused on short-term bridge and construction lending across key U.S. metropolitan markets;
- Since launch, the firm has originated more than 45 senior real estate loans, maintaining a strong and impressive credit record;
- The $30m note-on-note facility from OakNorth will be used to fund new multifamily, bridge, and construction loans, originated by Module Five Capital;
- Demand for private credit financing in the U.S commercial real estate sector continues to increase, with non-bank lenders now funding over 60% of new CRE loans[1].
New York, USA, November 17, 2025; OakNorth – the leading digital bank for entrepreneurs, by entrepreneurs, has provided a $30m note-on-note revolving credit facility to Module Five Capital, the New York-based real estate lending platform.
Founded in 2020 by Max Gejerman, Yehuda Krauss, and Nisson Hyman, Module Five Capital is a balance-sheet lender that provides senior debt financing to U.S. commercial and residential real estate projects, with a focus on short-term bridge and construction loans ranging from $500k to $10m. The firm has originated more than 45 loans since inception and currently manages an active loan book across multifamily, industrial, and mixed-use assets.
The $30m note-on-note facility from OakNorth will be used to fund new originations, including land and construction loans, bridge/fix and flip loans, as well as multifamily investment loans. The relationship also provides Module Five Capital with flexible funding to scale its platform and expand its lending capacity across major U.S. metropolitan areas, particularly New York, New Jersey, and Pennsylvania.
Max Gejerman, Co-Founder and Managing Partner at Module Five Capital, commented on the transaction: “With non-bank lenders now accounting for more than 60% of new commercial real estate loans in the U.S, demand for private credit solutions continues to accelerate. Partnering with OakNorth allows us to meet this growing need while maintaining our disciplined underwriting and local market focus. OakNorth’s understanding of the note-on-note structure and the teams collaborative approach makes them the ideal partner as we scale our platform, and continue delivering tailored, risk-adjusted lending solutions across key U.S. markets.”
Max Saidman, Director of Debt Finance at OakNorth, added: “Module Five Capital is a disciplined and entrepreneurial lending platform with a strong track record and deep expertise in U.S commercial real estate credit. The facility we’ve structured provides flexibility for the business to grow while maintaining its impressive credit record. We’re proud to support Module Five Capital in expanding its lending footprint and to strengthen OakNorth’s presence in the U.S private credit market.”
ENDS
Notes to editors
About OakNorth
Launched in September 2015 and founded by entrepreneurs, OakNorth is a digital bank focused on serving and empowering the lower mid-market (businesses with £1m-£100m in turnover), that are seeking to scale but are routinely underserved or overlooked by traditional banks.
To date, it has provided $18bn to these businesses across a wide range of sectors, achieving performance metrics that place it amongst the top 1% of commercial banks globally. Its loans have directly contributed to the creation of 61,000 jobs, and over 36,000 new homes across the UK and the US – the majority of which are affordable and social housing.
It is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.
Visit www.oaknorth.com for more information.
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[1] MBA – Total Commercial Real Estate Borrowing and Lending Increased 16 Percent in 2024