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At a size of $1.4bn, ACORE Credit Partners II is also the joint fourth-largest private real estate fund closed globally so far this year.
The former Affinius Capital head of credit capital markets will focus on private credit product expansion.
A growing number of commercial real estate managers have launched or expanded their lending platforms over the past three to six months.
Speaking at the PERE Network Europe Forum, the CEO and CIO of the asset management giant said Europe’s debt funding crisis is about to intensify.
The 23-hotel CMBS financing will recapitalize properties across 10 states.
Monday Properties and Pacific Elm Properties this week also lined up financing for high-quality office assets.
Partners is targeting $500m of initial investments with the door open for more capital commitments to Trinity on the table.
A narrative is emerging for high-quality offices that sit between behemoths like New York’s One Vanderbilt and commodity properties.
Jesse Hom will join the firm in June as it looks to expand its real estate presence amid bank lending pullback.
The JLL-arranged deal will retire existing debt for Navigation Capital Partners ahead of sales efforts.