Home Capital markets
capital markets
Avison Young’s Tri-State Debt & Equity Finance Group arranged the Times Square-area financing.
Rental housing and industrial are the firm's top priorities.
The bank wants to work with developers who have a broader vision for community development.
The company is seeing more conventional lenders entering the market.
The advisory’s parent company Black Bear Asset Management also made a preferred equity investment.
The investment comes as the firm is carving out a niche in originating preferred equity to finance large-scale portfolio acquisitions.
Banks are finding willing buyers in investors seeking higher-yielding assets.
The balance sheet lender has no plans to securitize its loans.
The firm entered the Chicago market this year, originating a $117m loan for LendLease and Super Aware.
The firm wants to boost originations to about $1bn quarterly.