The report, penned by senior executives Ralph Rosenberg, Billy Butcher and Racim Allouini, underscores how low interest rates are no longer the anchor for valuating commercial real estate assets.
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.
The lower Manhattan skyline is set to be reshaped, with Atlas Capital Group lining up $985 million of financing from Cale Street and Farallon for dual residential tower creation; Kayne Anderson Real Estate has new debt leadership with Lee Levy on tap from Goldman Sachs Asset Management; Walker & Dunlop gets creative to finance pair of Philadelphia area student housing deals with senior loan and preferred equity stakes; and more in today’s Term Sheet, exclusively for our valued subscribers.
The Milwaukee-based manager is looking at lenders with a deeper understanding of the sector.
TPG Next is adding to the wave of lending platform launches with an anchor investment to help start Caro Investors; IGIS Asset Management is replacing JPMorgan Chase as Extell Development’s project lender for IKEA-anchored mixed-use tower; Mesa West has appetite for more senior living loans following Virginia refinance; and more in today’s Term Sheet, exclusively for our valued subscribers.
Lee Levy, senior managing director and head of debt, joins the firm from Goldman Sachs.
The firm believes the best way to alleviate the housing shortage is to fund best-in-class developers.
There will be several chapters to the story of the office sector's next recovery, says global chief investment officer David Steinbach.
Tishman Speyer aims for a lending expansion with a senior hire from PIMCO to head its new real estate debt platform; and high-tier sponsorship begets high-dollar refinancing as Extell Development lands a $1.2 billion package from JVP Management alongside mezzanine capital. Plus: Barings and Counterpointe put C-PACE financing’s utility on display with a $165 million mixed financing to revamp a downtown Connecticut corridor; and more in today’s Term Sheet, exclusively for our valued subscribers.
Dry powder continues to build for distressed opportunities, and this week Lone Star closed its latest strategy focused on such efforts with $5.3 billion in commitments; a pair of fresh faces will be heading up real estate private lending at PIMCO; PGIM Real Estate kicked off its Independence Day fireworks show early with a $246 million refinancing spree; and more in today’s Term Sheet, exclusively for our valued subscribers.