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.
PERE Credit tracked 115 new commercial real estate loans totaling $14.96bn in May and June.
H1 saw a mere $4.5bn of new commitments made to commercial real estate private credit strategies.
The financing on the portfolio will be used to refinance existing debt.
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.
Lenders are increasingly extending loans – but only if there is a real path forward.
The market is inherently cyclical. But secular trends are increasingly affecting workout strategies.
Good candidates are those who can think past the end of the term of a loan.
Everyone agrees the office sector is under pressure, but no one agrees on where valuation is.