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The JLL-arranged deal will retire existing debt for Navigation Capital Partners ahead of sales efforts.
The Slate Property Group lending arm has ramped up construction completion lending with increased demand for development capital.
CBRE Investment Management and Hillwood Partners plan to redevelop a land parcel adjacent to the Auto Club Speedway in California’s Inland Empire into an industrial mega-development.
Spreads on newly originated loans were modestly tighter, according to data from Cushman & Wakefield.
The index was at 21.18% in January compared with 21.07% in both December and November 2023.
The multifamily sector took 42 percent of the total loan volume, according to deals tracked by Real Estate Capital USA’s Lending Barometer.
Slate Property Group in March originated a roughly $60m loan to reignite a stalled multifamily development in the Astoria neighborhood of Queens, New York.
Opportunities in dislocation and capital being deployed into structured investments were among key themes for this year's award winners.
As banks seek to address commercial real estate exposure, alternative lenders are stepping in to acquire or help restructure loans.
New vehicle is the firm's first commingled fund for its global commercial real estate credit business.