Rising interest rates, CMBS volatility and the likelihood of higher spreads are among the factors borrowers in the US need to think about, writes Ryan Krauch of Mesa West Capital.
Private real estate debt vehicles need to prove their value to investors in a more crowded and competitive market.
Robert Karnes, who previously led the real estate debt group, has taken over management of the new real assets group.
Targeting a smaller vehicle goes against the trend of firms able to raise successively larger funds. There are benefits – and risks – in doing so.
Erik Savi’s exit is accelerating the combination of infrastructure and real estate debt into a single platform, a plan that was already in the works.
The firm’s latest credit vehicle has already significantly outpaced its predecessor fund, which closed on $695m.
The fund will deploy capital in Europe and North America.
The New Mexico sovereign wealth fund has invested $242m in the Los Angeles-based manager’s vehicles since 2014.
The New Mexico sovereign wealth fund has invested $242m in the Los Angeles-based manager’s vehicles since 2014.
PERE’s review finds 2018 was the worst year for private real estate capital raising in the last seven.