residential

Sponsor Aurora Capital Associates is developing the West Village condominium build.

The financings will be used for projects in Miami and Brooklyn.

The firm is using a tech-driven platform that allows it to more easily control how and when borrowers access capital.

The strategy will originate bridge loans on behalf of domestic and international institutional investors.

The firm expects to see a rise in portfolio and property recap opportunities over the next six to 18 months as traditional lenders pull back. 

JLL arranged the financing for Five Star Development to finish the $2bn project development.

The borrower in the deal is American Lions, a joint venture between Fetner Properties and the Lions Group.

The global manager offers residential investors equity-like capital, lending around $40m per project.

Student housing lenders see a bright outlook for the sector, but are cautious about the potential for spread compression as the sector becomes more popular with institutional investors.

Market specialist Malcolm Davies at WAY Capital believes there is a need for more pragmatism and creativity around office conversion projects.