Invesco’s activity comes amid a broader increase in commercial real estate loan originations.
Alternative lenders are backing the city's luxury condo boom.
Puente Hills Mall, a roughly 56-acre mall in the City of Industry, California which is best known as a filming location in Hollywood blockbuster Back to the Future, is set to undergo a major redevelopment.
The Fed’s recent rate cut is not expected to significantly move the needle for commercial real estate lenders and borrowers, but provides and indicator of stability.
The index was at 23.71% in July, compared with 23.25% in June and 22.91 percent in May.
The bulk of capital allocated to real estate private credit strategies over the past five years has ended up in the multifamily sector, according to data from PERE Credit.
The Lending Barometer tracked 96 loans totaling $12.67bn across July and August, a level that is 15% lower than the prior two-month period.
CPP Investments was second, with $1.24bn allocated.
Inside: Lenders see opportunities in the office sector – but only for certain assets; Tim Sloan on Fortress’s senior lending push; Why alternative lenders are backing Miami’s luxury condo boom; Plus much more…
Commercial real estate valuations are under pressure and delinquencies are rising, but most bank management teams have maintained conservative underwriting metrics.