Niche sectors

The real estate debt managers will refinance 77 properties across 12 markets on behalf of Catalyst IOS Fund II.

The portfolio includes more than 1,890 licensed beds in 14 facilities. 

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

Senior commercial real estate professionals are leaving established investment managers to launch their own firms. But the path is not always straightforward.

The debt funding will be used alongside a $55m tax equity investment from JPMorgan Chase to retool RXR and One Investment Management’s 61 Broadway.

Transaction volume in the sector rose 22% year-on-year in 2025, with a similarly robust year expected throughout 2026.

The firm is looking to expand the scope of its real estate debt business to more categories in 2026, such as build-to-rent. 

The 20-story tower in Manhattan’s Financial District will be converted into a 382-unit multifamily property with a mix of market-rate and affordable housing.

Banks behind Oracle-backed construction projects are shopping loan stakes to commercial real estate private credit lenders and forcing deeper risk considerations as a consequence.

Robert Holuba will oversee the merged private real estate platform at the Pennsylvania manager while Dean Frankel will continue leading the public platform.