Home Lending
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The financing package for 5 Times Square is one of three major loans originated on offices in the submarket in the past few months.
The Irvine, California-based manager thinks the slowdown could be a sign of things to come.
The mixed-use development includes C-PACE and pref equity components to complete the capital stack.
The manager has been building its presence in the South Florida submarket.
Debt funds and other alternative managers see room to fill the void where banks have pulled back.
Namdar Group will use the financing for a residential tower acquisition, construction.
Sponsor Domain Companies is taking advantage of new zoning in the gentrifying Brooklyn neighborhood.
The funding is split into a $67.6m mezzanine loan and a $147.5m senior loan.
The firm recently expanded in the Pacific Northwest, hiring Blake Rodgers to head its new Seattle office.
About a quarter of the New York-based private investment platform is focused on the real estate sector.