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The firm believes the best way to alleviate the housing shortage is to fund best-in-class developers.
The fund has seeded a just-launched private debt strategy from an industry veteran.
While costs have been rising for the past decade, they are now having an impact on investment decision-making.
The New York-based manager has raised $1.3 billion for C-PACE lending series over the past 12 months, backed by appetite from insurance companies.
Rebranded from Real Estate Capital USA, we are repositioning to be at the center of a shift toward private credit lenders.
The CEO believes real estate private credit could become the biggest part of the Toronto-based manager’s global property business.
West Street Real Estate Credit Partners IV will have more than $7bn of lending capacity.
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 optimism comes as the commercial real estate debt markets gear up for an estimated $930bn of refinancing.
As banks seek to address commercial real estate exposure, alternative lenders are stepping in to acquire or help restructure loans.