Randy Plavajka
The manager could allocate up to approximately 25% of its sixth opportunistic fund toward real estate opportunities.
The pair will combine senior and C-PACE financing to supercharge sustainable real estate developments and existing assets.
The funding will be used to refinance the Ritz-Carlton Dallas following renovation work.
Puente Hills Mall, a roughly 56-acre mall in the City of Industry, California which is best known as a filming location in Hollywood blockbuster Back to the Future, is set to undergo a major redevelopment.
Andrew Smith will focus on expanding the Florida manager’s credit platform as it plans fund launch.
The firm is seeking to develop, raise and deploy credit-geared strategies.
Franklin BSP Realty Trust’s Comparato breaks down the transaction, which marks a bright spot for a quiet sector.
The funding was arranged by Lone Star PACE and will be used to develop data centers in the Texas city.
The funding will be used by Gencom as part of a $308m deal to buy the Thompson Central Park New York hotel.
The private equity manager is taking a minority stake in North Bridge as part of the deal.