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The loan on One Market Plaza, a San Franciso office tower, was one of the largest CMBS loans slated to mature in 2024.
Private credit lenders and other alternative sources of capital are already stepping in to work with national and regional banks to restructure loans.
Pennington Partners has hired a team from Walker & Dunlop Investment Partners to make structured equity investments in industrial and multifamily properties.
The executives will be the New York-based asset manager's first dedicated heads of real estate since Marcus Sperber departed in 2019.
Michael Boxer, a managing director, says operators are coming to grips with higher rates and are more willing to transact.
The real estate manager took a minority stake in New Jersey-based infill industrial investment manager Faropoint at the end of 2023.
In an uncertain market, AllianceBernstein is seeking to balance new lending and investment opportunities with caution
The multifamily sector could be in the crosshairs of the coming distress.
The Ares-RXR venture comes at a time when transaction activity in the city has started to tick upward and capital is starting to move.
As another real estate cycle begins, it is the managers investing in debt as well as equity that believe they are best set.