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niche sectors
The New York lender specializes in long-term credit tenant lease loans.
Evergreen has raised $1bn in capital commitments following initial seed and involvement from Prosperity Asset Management.
Five-property portfolio in Arizona comprises independent living, assisted living and memory care units for seniors.
The funding was arranged by Lone Star PACE and will be used to develop data centers in the Texas city.
The California manager funded loans across New York, Washington, DC, Florida and Arizona through July and August.
The Milwaukee-based manager is looking at lenders with a deeper understanding of the sector.
The Minneapolis-based manager originated the funding for a joint venture between Metro Storage and Fremont Realty Capital.
Closings are ticking up as borrowers re-enter the market, but wider activity is still tempered.
The fund from the Irvine, California-based manager comes at a time when lenders are rolling out more focused strategies.
Market participants see increased competition for institutional-quality assets as private credit lenders look to increase their niche exposure.