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Prior to the acquisition, PacWest sold several commercial real estate loan portfolios and saw the departure of its property team.
New York manager originated $160m and $59m loans for multifamily properties in Jersey City.
New York City industrial development agency tax incentives rounded out the financing on East End Studios campus.
Former PacWest division will focus on non-recourse bridge and construction financing following move.
Sponsor Aurora Capital Associates is developing the West Village condominium build.
Head of originations says larger ticket loans on deck for Los Angeles debt manager.
The firm is looking to offer more HUD loans as an alternative to borrowers in today’s capital-constrained market.
Greystone-arranged financing will help build submarket’s tallest multifamily asset.
The financings will be used for projects in Miami and Brooklyn.
-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.