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Market participants see increased competition for institutional-quality assets as private credit lenders look to increase their niche exposure.
Bank sale mirrors similar moves by Capital One and Pacific Western Bank to add liquidity amid market stress.
The lender funded the loan on behalf of Extell Development, with additional financing from Rexmark and Pacific Western Bank.
The New York manager launches a program targeting skilled nursing, independent living, assisted living and memory care assets.
With its HUD business bulked, the New York manager eyes more transitional multifamily amid inflation, interest rate and cost pressures.
Steady, uninterrupted income for medical facilities throughout the pandemic is attracting foreign, domestic capital.
The firm's decision to originate the loan was driven largely by its long-term relationship with global sponsor Nuveen.