Anna-Marie Beal
The fund from the Irvine, California-based manager comes at a time when lenders are rolling out more focused strategies.
Joseph Fingerman, a former executive at Signature Bank, will lead the business.
Toby Cobb, co-founder and managing partner, also sees a herd mentality emerging around five-year, floating-rate loans.
The Irvine, California-based manager will acquire properties on an all-cash basis before lining up debt when interest rates normalize.
More C-PACE records are being set as sponsors seek lower-cost capital for construction and retrofit projects.
Leverage helped to fuel acquisitions, refinancings and returns over the past cycle. Now, lenders and borrowers are working to adapt to a new reality.
The structural shifts in the market are changing the way capital is deployed into different property types and locations.
The women-led firm focuses on ground-up, multifamily projects in the Sunbelt region.
A disrupted commercial real estate capital markets means investment opportunities are more nuanced than there were in past cycles.
As the retail apocalypse ends, the office Armageddon begins, says Toby Cobb, co-founder of the national real estate investment trust.