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aluda Grade, a specialist in asset-based finance with a focus on residential real estate, has acquired Hillcrest Finance, a minority- and women-owned investment firm with expertise in commercial real estate. This move comes a year after Saluda Grade took a passive minority stake in Hillcrest in June 2024.

    Hillcrest was founded by Kathleen "Kathy" Corton in December 2013, who has led the firm alongside co-CEO Sharon Ann "Samm" Miller since early 2015. Both executives bring over three decades of institutional commercial real estate investment experience to the table. Corton previously worked at Nomura and Brickman, while Miller started her career in CRE lending at TIAA-CREF before specializing in institutional real estate equity.

    The acquisition brings Hillcrest's full-time team on board, increasing Saluda Grade's assets under management to $2.5 billion as of May 31, 2025. According to Ryan Craft, Founder & CEO of Saluda Grade, the deal represents a "natural progression" of their relationship with Hillcrest and will enhance solutions for clients.

    "We're thrilled to add Hillcrest's team to expand our ability to access attractive opportunities within asset classes across the entire U.S. real estate landscape," Craft said. Corton and Miller expressed similar sentiments, highlighting Saluda Grade's commitment to client service and innovative solutions as key factors in their decision to join forces.