The Federal Reserve signaled an inbound interest rate cut at its next meeting that would alleviate some pressure on US commercial real estate markets; Barry Sternlicht’s Starwood bets big on Brooklyn office space with a $301 million refinancing for Tishman Speyer; Nuveen Green Capital assembles a $190 million C-PACE financing package to supercharge Nevada hotel; and more in today’s Term Sheet, exclusively for our valued subscribers.

Trimont climbs to the top of the loan servicer ranks with acquisition of Wells Fargo’s non-agency servicing business; Mezzanine financing momentum receives a boost with $185 million first close for new Pearlmark fund; Chatham eyes North Carolina for advisory expansion and taps former Brookfield professional to lead Charlotte office; and more in today’s Term Sheet, exclusively for our valued subscribers.

UBS and Citigroup’s commercial mortgage-backed securities loan on the New York midtown office 1500 Broadway hits special servicing this week; BridgeInvest closes its largest-ever real estate private credit fund at $670 million, aiming to execute on more than $1.2 billion transactions over the next two years; DWS hires a senior executive to head US commercial real estate debt; and more in today’s Term Sheet, exclusively for our valued subscribers. 

KKR seeks more real estate credit opportunities as the manager’s real asset fundraising momentum holds steady; Deutsche Bank is looking for liquidity with the sale of $1 billion of real estate loans as it reduces exposure to the asset class; Trinity Investments is unveiling its own debt platform with sights on mezzanine, preferred equity as well as special situations opportunities; and more in today’s Term Sheet, exclusively for our valued subscribers.

The index was at 22.91% in May compared with 21.67% in March.

A $325m commitment from CPP Investments to the TPG AG Essential Housing Fund was the largest made in the past two months.

H1 saw a mere $4.5bn of new commitments made to commercial real estate private credit strategies.

Miami retains its financing spark with Tyko Capital and Security Benefit stepping up to refinance OKO and Cain’s 830 Brickell trophy office; Jerome Powell hints at September rate cut following the Federal Reserve’s July hold; Ares and Douglaston secure a $560 million refinance for a Manhattan luxury residential tower; and more in today’s Term Sheet, exclusively for our valued subscribers.

Inside: Why the need for income means real estate private credit is becoming an indispensable allocation for investors; Inside PGIM Real Estate’s plans to scale; Plus, an 11-page special report on asset management and loan servicing.