Randy Plavajka
BXMT borrowers will be able to use agency financing through M&T’s Fannie Mae and Freddie Mac platforms.
The proposals' implementation is expected to prompt a major expansion in private credit providers’ lending platforms.
The New York-based manager has raised $1.3 billion for C-PACE lending series over the past 12 months, backed by appetite from insurance companies.
The alternative management arm’s largest-ever fundraise arrives at a critical time for private credit and bank lenders in the real estate market.
The bridge loan was arranged by Gortikov Capital and will be used by AMCAL to recapitalize a Woodland Hills, California, property.
John Jacobs has been slated to take on senior portfolio manager responsibilities from Steve Bailey, who is retiring at year’s end.
The CEO believes real estate private credit could become the biggest part of the Toronto-based manager’s global property business.
Closings are ticking up as borrowers re-enter the market, but wider activity is still tempered.
The SASB CMBS deal was sponsored by a Tishman Hotel & Realty and MetLife IM joint venture.
The manager will be looking to originate its own loans, pursue securitized deals and acquire loans from traditional lenders as part of its real estate debt roadmap.