Term Sheet: REC USA’s 2023 Awards unveiled; Bank OZK’s $600m loan trifecta; Franklin BSP’s Texas office portfolio refi

Private credit lenders log a banner year across Real Estate Capital USA’s 2023 Awards despite the elevated rate environment, valuation pressure and broad market uncertainty. Plus: Bank OZK continues to be the year’s most active construction lender with a trio of financings totaling $600 million across South Florida; Franklin BSP gets creative to refinance and mitigate office exposure risk in Silver Star REIT’s legacy real estate portfolio; and more in today’s Term Sheet, exclusively for our valued subscribers.