Joel Pecoy replaces Danielle D’Ambrosio in overseeing the Charlotte-based manager’s $25bn real estate debt portfolio.
The firm raised approximately $1.2bn for CRED III, which is already over 40% deployed.
The Los Angeles-based firm sees the sector as a strong area for growth.
The US national debt is a macroeconomic issue, one that may not touch the lives of commercial real estate lenders and borrowers on a day-to-day basis.
The operator secured the first mortgage financing arranged by JLL Capital Markets.
The New York-based REIT receives capital commitment from an undisclosed Canadian institutional investor.
The global real estate manager has been building out its debt market share and has shown appetite for similar deals.
Empira's investment strategies include European residential, US residential, transition-to-green and real estate credit.
The New York-based manager will focus on large-balance loans through the fund, including bridge and construction deals in the mid-market.
The loan will be used for the first phase of a 380,000-square-foot industrial park in Irvine, California.