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preferred equity
The Toronto-based manager has formed a partnership with Declaration Partners to fund preferred equity investments.
Honolulu-based manager makes key hires to deepen the firm’s focus on destination hotels and resorts in the US.
The New York-based manager has made more than $150m in preferred equity investments over the past five months.
The data-driven manager deployed the capital via its Origin Strategic Credit Fund.
Lack of money center banks is creating more space for private credit lenders with multifamily, industrial and construction lending.
The structure is becoming the place more lenders want to be in the capital stack.
The Boston-based manager looks to focus on this area of the market through its Taurus Capital Solutions platform.
Participating preferred equity emerges as alternative lending structure amid choppy deal-making environment.
Participating preferred equity has features of both preferred and joint venture equity, Berkadia’s Cody Kirkpatrick told Real Estate Capital USA.
The tax could be up to 2.8% for New York City.