debt

The funding will be used to recapitalize luxury 3ELEVEN tower south of Manhattan’s Hudson Yards.

Sponsors Lloyd Goldman and David Werner see the potential to convert the building at 100 Wall Street into a residential property. 

With manager BGO exceeding its self-imposed, company-wide recruitment quota of two-thirds women and underrepresented minorities for three years running, president Amy Price tells PERE how the next target is senior management.

The report, penned by senior executives Ralph Rosenberg, Billy Butcher and Racim Allouini, underscores how low interest rates are no longer the anchor for valuating commercial real estate assets.

PGIM Real Estate wants to further scale its lending platform. But the firm does not want to be all things to all borrowers.

The metrics of underwriting an apartment property have changed substantially since the start of the covid-19 pandemic.

The firm has closed about $100m of new loans since opening its doors in May and all of them have been bridge financings.

The firm, the debt financing arm of Slate Property Group, will target loans of more than $50m.

The credit manager is looking to build out a new portfolio in the space to complement its primary value-add strategy.

The firm believes the best way to alleviate the housing shortage is to fund best-in-class developers.