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This is the Washington-based company’s first ever credit-focused investment vehicle.
The Los Angeles-based manager is targeting $3bn for its Real Estate Debt Fund IV.
CEO Mukang Cho says the firm will target structured debt investments in the office sector.
Americas CIO Alfonso Munk says redevelopment and gap financing rank highly alongside equity priorities.
Higher interest rates are making it more difficult for sponsors to exit properties and refinance debt.
The Charlotte-based manager is seeing banks and other traditional lenders hesitate amid volatility, but it is confident in its ability to line up debt.
The firm hired Perry Boyle to boost fundraising as it launches a $100m fund.
The four-tranche, five-year financing is split into two components, and each was designed to address a specific part of the development.
Low supply, high demand forces new risk profiles and equity staging.
AB's head of private alternatives, Matt Bass, tells REC USA the CarVal acquisition fills gaps in its opportunistic and distressed credit capabilities.