Alternative lenders

The specialist firm will funnel capital from Ares Alternative Credit funds toward $40m-$50m loans with an average LTV of about 35%.

Commercial real estate private credit funds garnered 23% of capital raised in the first quarter of 2026.

The dominant theme of the first quarter of 2026 was the dramatic increase in interest rate volatility, market participants told PERE Credit. 

Development activity has dropped significantly over the past three years, leaving an opening for new construction.

The firm originated the loan through Blackstone Real Estate Debt Strategies for 46 industrial outdoor storage properties across 15 states.

The Singapore-based real estate private equity manager raised $320m for CapitaLand Asia Pacific Credit Program II.

The firm’s $223m anchor loan to revitalize the former Cal Neva Hotel in Lake Tahoe, Nevada, signals an effort to return the storied property from road bumps to another heyday.

Walker & Dunlop arranged the financing on behalf of the sponsor, TMGOC Ventures.

The partners plan to deploy over the next three years across the New York Tri-State area with a focus on residential and hospitality opportunities.

Realberry, Kor Real Estate Partners and Proper Hospitality will use the funding and a $75m Banc of California senior loan to redevelop the Cal Neva Hotel.