borrowers

Fund managers have largely focused on developing purpose-built single-family properties in recent years rather than buying existing assets.  

There continues to be a structural shortage of housing and an extreme need to renovate existing stock.

The opportunity set is driven in part by an estimated $936bn of loans slated to mature in 2026. 

QuadReal chief executive Dennis Lopez tells PERE Credit the firm only lends in sectors where it has operating platforms.

The New York-based investment management firm exceeds its initial target of $515m.

The Federal Reserve lowered interest rates three times in 2025, but the market would benefit more from a meaningful decline in 10-year Treasury yields in the coming year.

The evolution of the commercial real estate private credit market means fund managers have multiple options for lenders and investors.

The borrower, Thomas James Homes, is the largest single-lot homebuilder in the US. 

PERE Credit’s Lending Barometer tracked $10.64bn of loan transactions in September and $9.9bn in October.

The manager is refinancing debt on its ARIA Resort & Casino and Vdara Hotel & Spa via a CMBS loan and a preferred equity sale.