The New York-based manager is expected to close $300m in loans over the next 30 days as debt funding gaps and needs persist.
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.
Freddie Mac provides $335m of funding alongside investments from CPP and Harbor Group.
The yield on the 10-year Treasury topped out at 5 percent in October before falling to less than 3.8 percent at the end of 2023.
Arbor Realty Trust shows US regional banks are not the only lenders facing increased scrutiny after logging higher-than-expected loan delinquencies and borrower troubles; Greystone Commercial Capital catches a wave on Miami’s lending momentum with $419.6 million refinancing deal for Florida East Coast Realty’s Panorama Tower; Starwood Capital and Artisan Ventures run into more Los Angeles office troubles with default on financing from MetLife Investment Management; and more in today’s Term Sheet, exclusively for our valued subscribers.
Florida-based manager looks to elevate $750 million fund to capitalize on private lending opportunities.
Most assets need an additional 15-20% in reserves to address refinancing issues, according to the advisory firm’s co-founder.
The Toronto-based manager is looking at the city on a long-term basis.
The New York City property was converted from an office building into a multi-use asset.