Blackstone completes refinancing and extension, joining a wave of managers tackling an estimated $659 billion wall of loans maturing this year; Deutsche Bank and BMO Capital Markets co-lead a $333 million hotel portfolio CMBS securitization that signals continued industry interest in travel- and leisure-oriented hospitality; CalPERS feels office sector headwinds as a key New York tower in its portfolio suffers a nearly 12 percent value drop; and more in today’s Term Sheet, exclusively for our valued subscribers.
The attainable housing specialist is seeing a push toward asset management.
The Boston-based manager sees opportunities to move up in the quality spectrum in terms of both assets and partners.
The loan on One Market Plaza, a San Franciso office tower, was one of the largest CMBS loans slated to mature in 2024.
Private credit lenders and other alternative sources of capital are already stepping in to work with national and regional banks to restructure loans.
Pennington Partners has hired a team from Walker & Dunlop Investment Partners to make structured equity investments in industrial and multifamily properties.
The executives will be the New York-based asset manager's first dedicated heads of real estate since Marcus Sperber departed in 2019.
New York Community Bank earnings draw commercial real estate debt liquidity concerns but analysts downplay systemic stress; Banco Inbursa originates $445 million of construction financings in Miami; Nuveen Green Capital expands C-PACE focus with Virginia's first-ever deal and more in today’s Term Sheet, exclusively for our valued subscribers.
Michael Boxer, a managing director, says operators are coming to grips with higher rates and are more willing to transact.
The California-based manager is seeing more opportunities as banks take closer looks at their balance sheets.