This week’s CRE Finance Council conference in New York used the music of the legendary rocker to put today’s market into context.
Commercial real estate lenders are bracing for a change in market tune, as observed at CRE Finance Council’s annual New York conference; KKR is holding a steady fundraising rhythm with the $1bn first close of its latest real estate credit strategy installment; NPS sees the US market as prime for increasing its real estate credit presence; and more in today’s Term Sheet, exclusively for our valued subscribers.
Tyko Capital has entered the Texas market with an $870m construction loan, adding geographic diversity to its lending book; Leumi UK completed its largest-ever UK healthcare financing via a £100m revolving credit facility; a Blackstone and JPMorgan Asset Management venture funded a $281m industrial outdoor storage loan; and more in our round-up of global loan deals from the past week.
The FirstSun Capital Bancorp affiliate sold the performing multifamily commercial real estate loan pool to reposition its balance sheet.
The loan was originated through Northwind Debt Fund III, the firm's flagship closed-end credit vehicle.
San Francisco’s resurgence is being spurred by a Lone Star-backed acquisition of the office tower at 600 California; S3 Capital is expanding its development focus toward student housing with a $131.5 million deal in Manhattan’s Washington Heights submarket; Peregren Capital is making a substantial debt stake in a San Diego area life sciences property with a $290 million financing package; and more in our round-up of global loan deals from the past week.
Despite geopolitical shocks, liquidity across global CRE credit remains resilient as lenders stay active and selective.
Rising competition is making it more difficult for US debt fund managers to deploy capital.
From Monday, our coverage of Europe’s property debt market will form a crucial part of PEI Group’s global real estate private credit brand.
Rafael Cerezo, the chief executive of Stoneweg Alternative, says the firm will work to meet investor demand for partnership structures.