banks

Private credit manager picks up substantial exposure to New York City offices in the deal.

The alternative lender has hired John Omori from Bank of Hope to spearhead the initiative, which will focus on smaller, local builders in the multifamily sector.

Joint venture between Canyon Partners Real Estate, Charney and Tavros contributes $64.4bn of equity to fund the deal.

Criterion Group and Columbia Pacific Advisors will use the funding for a portfolio of last-mile logistics centers across 9 states.

The Dallas-based manager’s latest whitepaper highlights the banking pullback and the perception of the US office sector as areas in need of a deeper dive.

US bank lenders will face stricter capital requirements with proposed regulatory changes.

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

The 30-story office tower at 55 Broad Street will be redeveloped into a 571-unit luxury apartment building.

Lotus, a New York-based advisory, arranged the loan on behalf of Monroe Capital and Witkoff Group.

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.