Berkshire and Limekiln are set to target more bridge lending opportunities following a $2 billion capital raise for a joint strategy; The real estate executive shuffle has kicked off with GIC, Madison Realty and Parkview each making senior appointments; North Bridge and ACORE Capital blend C-PACE and senior lending for a $161 million Las Vegas construction deal; and more in today’s Term Sheet, exclusively for our valued subscribers.

Tishman Speyer and Henry Crown have kickstarted 2025’s CMBS activity with a $2.85 billion financing package for Hudson Yards’ Spiral; Brookfield is not backing off debt opportunities with a $484 million Bay Area life sciences financing in the bag; Fitch outlines more CMBS volatility for offices as other sectors regain footing in 2025 and beyond; and more in today’s Term Sheet, exclusively for our valued subscribers.

Societe Generale leads a data center charge with a $600 million construction financing package for a Blue Owl-linked sponsor group; Pembrook Capital Management plans to launch two funds to fuel affordable and workforce housing stock; Barings looks to Boston’s Seaport District for a year-end $115 million refinancing deal; and more in today’s Term Sheet, exclusively for our valued subscribers.

Canyon Partners Real Estate puts its capital-raising abilities on display with $1.2 billion lined up for the third iteration of its real estate credit strategy; high-tier hospitality remains a refinancing bright spot with Fontainebleau lining up a $1.2 billion package for a Miami Beach resort; Tyko Capital continues its year-to-date origination run with a $280 million deal to convert New York’s 77 Water Street from office to residential; and more in today’s Term Sheet, exclusively for our valued subscribers.

Brookfield continues building its lending market share with a $1 billion loan portfolio acquisition from Valley National Bank; Partners Group expands its real estate credit footprint with the addition of Empira Group to its business portfolio; private credit managers and lenders look to private wealth for fresh fundraising avenues; and more in today’s Term Sheet, exclusively for our valued subscribers.

The index was at 24.46% in September, versus 24% in August and 23.71 percent in July.

ACORE Credit Partners II alone raised $1.4bn of capital in 2024.

The New York State Teachers’ Retirement System continues to be the top investor in US commercial real estate private credit.

Inside: The wealth channel – managers spy an opportunity for platform expansion; A special report on bridge lending; Expert comment and analysis from industry leaders; Plus much more…

Tyko Capital originated its third major Miami development loan since July; a non-performing loan on a Pittsburgh trophy office is up for sale via JLL; Lone Star names a new head of real estate; and more in today’s Term Sheet, exclusively for our valued subscribers.