Lenders are willing to originate office loans, but only for the buyers of a specific profile of workplace.
The firm is seeking to develop, raise and deploy credit-geared strategies.
Franklin BSP Realty Trust’s Comparato breaks down the transaction, which marks a bright spot for a quiet sector.
The funding will be used as part of an $180m deal to buy a 1,326-unit portfolio in New York City.
The commitment represents a new relationship for the $11bn San Diego retirement system.
Five-property portfolio in Arizona comprises independent living, assisted living and memory care units for seniors.
The Miami-based national real estate lender also brought on an undisclosed wealth advisory firm in its first commitment of this kind.
The funding was arranged by Lone Star PACE and will be used to develop data centers in the Texas city.
The bottom line is that directionally, lenders and borrowers have more confidence in the Federal Reserve’s progress on inflation and a softening economic backdrop.
The funding will be used by Gencom as part of a $308m deal to buy the Thompson Central Park New York hotel.