Term Sheet: REC USA opens 2023 award submissions; PGIM, Northwestern originate $869m industrial refinancing; White House looks to boost residential conversions

Real Estate Capital USA opens for nominations for our third annual US commercial real estate debt industry awards; PGIM Real Estate and Northwestern Mutual join forces on a $869 million refinancing for a 25-asset Class A industrial portfolio; the White House looks to encourage more asset conversion pace to boost residential supply with a guidebook launch; and more in today’s Term Sheet, exclusively for our valued subscribers.