alternative lenders

Negative leverage is becoming more pervasive – but it is also providing borrowers with a lifeline for a brighter day.

The Los Angeles-based manager raised an aggregate $500m for its funds targeting the strategy in the second quarter of 2023.

Borrowers and lenders alike are keeping an eye on rising levels of distress, while the industry faces roughly $1.3trn of loans slated for maturity over the next three years.

The national and regional banks that were once the stalwarts of the commercial real estate lending market are curtailing their activity, opening the door for alternative lenders to build new borrower relationships.

The Charlotte, North Carolina manager is looking at internal value creation – especially for assets like office.

New York manager originated $160m and $59m loans for multifamily properties in Jersey City.

New York City industrial development agency tax incentives rounded out the financing on East End Studios campus.

Over the past two weeks, Northcap, Calmwater Capital and Benefit Street Partners have each launched or closed real estate credit funds. 

Bank capital requirement changes and shrinking balance sheets are opening doors in multifamily, industrial and construction.

Although venture capital funding into the sector has dropped, the firm sees investment opportunities.