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The firms are targeting $200m for deployment with a heavy focus on subordinate multifamily and real estate loans.
The deal will recapitalize KSL Capital Partners’ convention center-adjacent Westin Indianapolis property.
Empira's investment strategies include European residential, US residential, transition-to-green and real estate credit.
The firm anticipates another capital closing before year-end and then a final close late in the first quarter.
Honolulu-based manager makes key hires to deepen the firm’s focus on destination hotels and resorts in the US.
The firm’s credit platform manages whole loans, Freddie Mac products, preferred equity investments and mezzanine loans.
John Jacobs has been slated to take on senior portfolio manager responsibilities from Steve Bailey, who is retiring at year’s end.
Michael Boxer, a managing director, says operators are coming to grips with higher rates and are more willing to transact.
Cottonwood Group's CIO Mark Green discusses the mezzanine loan his firm provided to Five Points Development's luxury residential tower at 262 Fifth Avenue.
The Real Estate Capital USA Lending Barometer tracks non-securitized senior mortgage and mezzanine and preferred equity financings across markets and sectors.