Samantha Rowan
The Vancouver-based real estate investment management company this month named John Creswell to head capital raising as it seeks to expand its lending and investment base.
The firm anticipates opportunities on the debt and equity side as the commercial real estate market moves closer to a reboot.
The New York-based private equity manager joined forces with Canada Pension Plan Investment Board and Rialto Capital on the acquisition.
The New York-based multifamily investor has been looking selectively at deals, but believes rates are too high to move ahead with transactions.
The polls will close at midnight PST on Monday, January 15 and the results will be revealed in April.
The firm hopes to provide mezzanine and preferred equity financing for sponsors in its target markets which are facing short-term capital challenges.
While the change in sponsor attitude has not yet been reflected in transaction volume, market participants are pointing to anecdotal situations over the past 30 to 60 days which shed light on the shift.
Lower interest rates and the potential for the passage of tax credits promoting the development of affordable housing could be significant for the sector.
New York State Teachers' Retirement system followed, raising $400bn.
The index was 20.73% in September, compared with 19.73% in July.