The loan servicing firm is understood to have appointed Investec to market it to prospective buyers.
The firm sees value in serving the core demands of communities.
Paradigm Advisory Group, formed by Raymond Chalme and Daniel Blanco, aims to help lenders and borrowers stabilize the value of New York’s office and residential assets.
Investors are paying more attention to secular changes, including energy cost volatility and moves toward ESG.
Brookfield also defaulted on a pair of Los Angeles office properties in February.
The shift comes as borrowers and lenders think creatively about ways to finance transactions in a volatile market.
Should the CMBS market be used to resolve potential problems at regional banks, there are questions about how this could play out, however.
The Los Angeles-based manager sees a window to buy non-performing loans as higher interest rates persist.
The discounted sale of the class A Los Angeles tower sheds some light on where values are today but does not consider a more normalized working environment.
The industry veteran is joining the New York-based credit shop as it closes its first institutional private fund.