lenders

Prior to the acquisition, PacWest sold several commercial real estate loan portfolios and saw the departure of its property team.

Bank capital requirement changes and shrinking balance sheets are opening doors in multifamily, industrial and construction.

Taconic provided a mezzanine loan on the class A property.

The manager is the latest to target accredited investors via a credit-focused strategy.

Manager will pay a total of $2.07bn for asset-backed loans, and a portion of its unfunded commitments.

The sale comes after PacWest sold another substantial portfolio to Kennedy Wilson earlier this month. 

JLL Capital Markets arranged the $220m loan, of which about $65.8m is comprised of preferred equity. 

The firm detailed in a report its Q2 outlook and long-term view of the commercial real market’s return focus.

The Federal Deposit Investment Corp seized the bank and sold control of it to JPMorgan on May 1.

One-third of the maturing loans were made by CMBS lenders a decade ago; the report also finds transaction volume in February plunged from the previous year.