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The $1.5bn acquisition will nearly double the manager’s real estate AUM and dramatically expand its equity platform.
As part of the growth plans, the mid-market lender plans to broaden its scope across Texas.
The firm will originate first mortgages backed by high-quality assets in major US and Western Europe markets.
The headlines are becoming more positive but a recovery in US office remains skewed toward prime assets.
Our Lending Barometer tracked 123 loans totaling $16.83bn across the last two months of 2024.
The Trump administration has imposed and dialed back tariffs on major US trading partners for materials necessary for real estate development.
Wells Fargo, Bank of America and Bank of Montreal led the financing recharge for the Midtown Manhattan office tower.
Capital constraints in high-interest-rate environment were a leading factor in the slump.
The fund has a meaningful allocation to alternative sectors, Jon Lindell, executive vice-president, tells PERE Credit.
Greater clarity on Fed policy and the US election could pave the way for a rise in transaction activity in 2025.