C-PACE

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

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.

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.

Potential investors see a brighter future for distressed properties as rental rates rise and job growth accelerates. 

JEMB Realty will use the $8m loan to fund Herald Towers' infrastructure upgrades alongside existing debt from Blackstone and Corebridge.

The financing includes a $75m C-PACE loan.

The firm has hired Lisa Nordel as a managing director to bolster its underwriting, portfolio construction and institutional partnerships.

The funding will be used alongside equity and EB-5 capital for Okan Group-backed development of a 72-story mixed-use tower.

The capital stack for Post Brothers’ planned conversion includes a record $465m C-PACE financing from NGC alongside Mavik’s $110m senior loan.

The funding will be used by Rilea Group alongside a $25m senior loan from ABANCA USA to build the 300-unit Mohawk at Wynwood.