Shihao Feng
Morgan Stanley Real Estate Investing was also a part of the group that funded the loan for sponsor Bridge Industrial.
The Chicago manager is looking to expand its single-family rental portfolio with a second $250m investment in the specialist platform.
The commercial real estate market is operating against a backdrop in which higher interest rates have caused widespread declines in real estate values – and higher loan-to-value ratios.
Marx Development Group is building the 51-story, 379-key tower.
The firm accesses tax credits and other forms of financing for its multifamily-focused investments and developments in underserved communities.
Jonathan Pollack, who will officially come on board at Starwood in 2025, will join the firm at a time when alternative lenders are expected to be able to significantly increase their market share.
Market participants see increased competition for institutional-quality assets as private credit lenders look to increase their niche exposure.
The New York City property was converted from an office building into a multi-use asset.
The Boston-based manager sees opportunities to move up in the quality spectrum in terms of both assets and partners.
Cottonwood Group's CIO Mark Green discusses the mezzanine loan his firm provided to Five Points Development's luxury residential tower at 262 Fifth Avenue.