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The Tampa-based owner-operator raised more than $1bn for Sun Belt-focused multifamily investments.
The loan comes as lenders see a niche to provide financing to help sponsors complete projects.
Closings are ticking up as borrowers re-enter the market, but wider activity is still tempered.
The data-driven manager deployed the capital via its Origin Strategic Credit Fund.
The firm's global head of real estate Ralph Rosenberg raises the question of whether the sector is in for a near-term period of significant defaults.
New york city midtown at sunset with a view from the Empire State Building
The JLL-arranged deal will retire existing debt for Navigation Capital Partners ahead of sales efforts.
A rendering of a multifamily project at 120 East 144th Street in the Bronx, New York,
The Slate Property Group lending arm has ramped up construction completion lending with increased demand for development capital.
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