Anna-Marie Beal
Senior commercial real estate professionals are leaving established investment managers to launch their own firms. But the path is not always straightforward.
PERE Credit has tracked $2.2bn of New York office to residential loans in the first quarter of 2026.
The loan is the latest of a slew of financings the firm has made in New York multifamily this year.
The firm will be part of a $135m capital stack backing a multifamily property in Philadelphia.
The $27bn system is currently below its real estate target allocation.
The public pension fund, which has $30bn in AUM, is currently underweight to its real estate target allocation.
A sharp fall-off in new construction is reshaping the Sun Belt multifamily market, creating near-term opportunity for lenders and investors seeking development opportunities.
The portfolio consists of 15 Graduate by Hilton properties in markets including Michigan and Virginia.
The firm is looking to expand the scope of its real estate debt business to more categories in 2026, such as build-to-rent.
The $136bn system has invested in the San Francisco-based manager’s ACORE Credit Partners III and its series predecessor.