Home Capital markets
capital markets
The firm is targeting preferred equity and mezzanine debt deals of $2m to $10m.
Global real estate boss Robert Rackind will be departing the Swiss bank within a month following its merger with UBS.
Goldman Sachs, US Bank, Franklin BSP executives anticipate more stress and higher debt costs.
The imminent sale of a Class A Downtown Manhattan office will provide another important metric.
The Starwood-owned portfolio’s appraisal value has risen 35%% since December 2021.
-80x80.jpg "Cain strikes deal to acquire $1.2bn New York-area loan portfolio from PacWest")
The sale comes after PacWest sold another substantial portfolio to Kennedy Wilson earlier this month.
Carlos Slim’s Banco Inbursa funded the senior mortgage.
The firm compared the leverage and yields on the B-piece with similar metrics for preferred equity or mezzanine debt investments.
Debt funds and alternative lenders step into the space left by banks, Real Estate Capital USA data shows.
Lone Star founder John Grayken sees a limited window for distressed investing while most people wait for private real estate market conditions to settle. He discusses it with Jonathan Brasse.