alternative lenders

Barings is providing $75m in mezzanine financing for the development of 470 Kent Street.

 PGIM Real Estate, Regions Bank pros say 2023’s $6bn total rate cap reduction will be inconsequential.

The denominator effect is causing notable instances of overexposure to property, according to the latest Allocations Monitor released this week by Hodes Weill and Cornell University’s Baker Program in Real Estate.

Panelists at CREFC Europe’s London conference said uncertainty around interest rates and property values is making debt transactions difficult to underwrite.

The move marks PGIM’s largest transaction of the year.

The New York-based firm is targeting $1bn-$2bn in originations in the region next year amid a 'super-interesting time' for non-bank lenders.

Ackman-Ziff arranged the loan on behalf of reAlpha, a specialist in the growing multifamily niche.

Dekel brought in UBS to fund the loan after a previous lender was unable to finance the acquisition for sponsor DB Capital. 

The lender funded the loan on behalf of Extell Development, with additional financing from Rexmark and Pacific Western Bank. 

The company closed on an $11.5 million loan commitment for a Brooklyn multifamily development after sponsors locked in pricing over the summer.