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Hamid Moghadam says the logistics real estate giant is now focusing on acquiring assets with higher-return potential.
The Philadelphia-based investment management company is assembling a portfolio of class A offices.
The Washington, DC-based firm’s chief executive was optimistic about both fundraising and deal activity in the asset class going forward.
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 strategy arrives as the firm sees more industrial, construction and multifamily opportunities.
The firm is seeking to line up patient individual and institutional capital to target small balance loans on transitional assets.
This is the Washington-based company’s first ever credit-focused investment vehicle.
JLL Capital Markets arranged the $220m loan, of which about $65.8m is comprised of preferred equity.
However, some institutions believe equity deals still are more attractive than debt investments in multiple respects.