PERE Credit Staff
Private credit managers unpack the complexities of finding loan exits in the latest magazine edition of PERE Credit; Nuveen shifts capital-raising gears on its way to a $650 million final close of its first US strategic debt strategy; office-to-residential conversion projects get another capital jolt with Apollo and GIC’s $835 million refinancing of 25 Water Street; and more in today’s Term Sheet, exclusively for our valued subscribers.
Apollo and GIC are refreshing the capital stack behind GFP and Metro Loft’s 25 Water Street with an $835m loan after the asset’s conversion to a residential tower; Urban Investment Group is adding more momentum to Jersey City’s development momentum with a $200m affordable housing deal; Nuveen Green Capital tacks on C-PACE records with a $235m Florida development deal, as part of a wider $465m construction package; and more in our round-up of stateside loan deals from the past week.
The index was at 26.96% in September, up from 26.86% in August and 26.41% in July
North American private real estate debt fundraising was up roughly $2bn from Q3 of last year.
In the report: Why short-term lending has long-term potential; The bridge lenders launching new platforms; Plus, expert analysis from Canyon Partners, Tannenbaum Capital Group, Stormfield Capital and PIMCO
Inside: Why a rise in liquidity means real estate lenders are seeing a sharp uptick in paydowns; Plus, a 22-page special report on bridge lending; Expert comment from industry leaders; And much more…
Acquisition volumes are starting to pick up, creating opportunities for well-capitalized private lenders. But downside mitigation remains crucial in ‘structurally uncertain’ times, say PIMCO’s Roman Kogan and Seray Incoglu.
As the market begins to recover, bridge financing is giving borrowers the flexibility and time to stabilize assets and execute business plans, says Canyon Partners Real Estate’s Robin Potts and Jacob Feingold.
TCG Real Estate’s CEO, Brian Sedrish, discusses how maintaining underwriting discipline and targeting growth markets will be key to navigating the next phase of the real estate cycle.
Private credit allows investors to hedge against equity market volatility, suggests Stormfield Capital’s Wesley Carpenter.