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Over the past two weeks, Northcap, Calmwater Capital and Benefit Street Partners have each launched or closed real estate credit funds.
Sponsor Aurora Capital Associates is developing the West Village condominium build.
The manager is the latest to target accredited investors via a credit-focused strategy.
The firm is looking to offer more HUD loans as an alternative to borrowers in today’s capital-constrained market.
The firm is seeking to line up patient individual and institutional capital to target small balance loans on transitional assets.
Greystone-arranged financing will help build submarket’s tallest multifamily asset.
The deal is the largest year-to-date construction loan originated in the US.
Washington, DC, shopping mall will be redeveloped into mixed-use asset with 320 apartment units.
The sector is being hit by rising interest rates and other trends also affecting the broader commercial real estate debt markets.
The imminent sale of a Class A Downtown Manhattan office will provide another important metric.