Evelyn Lee
Five executives at the California-based investment manager have assumed new roles as two other professionals have left the firm.
New vehicle is the firm's first commingled fund for its global commercial real estate credit business.
Most assets need an additional 15-20% in reserves to address refinancing issues, according to the advisory firm’s co-founder.
The executives will be the New York-based asset manager's first dedicated heads of real estate since Marcus Sperber departed in 2019.
The banking giant's CFO said the firm ‘made substantial progress’ in selling down its commercial real estate balance sheet portfolio in 2023.
The firm has launched the strategy at a time when real estate financing ‘is a pretty broken market,' according to CEO Jon Winkelried.
Taking charge of the pension giant’s $50bn AUM property business is a daunting task. But Julie Donegan is prepared for the challenge.
Over 80% of institutions in the capital advisory firm’s latest Allocations Monitor are now actively considering fund investments.
The New York-based banking giant has been working to actively reduce its balance-sheet exposure to the sector since the start of the year.
KKR global real estate head Ralph Rosenberg expects capital constraints to also cause pain for owners outside of the office sector.