residential

The partners plan to deploy over the next three years across the New York Tri-State area with a focus on residential and hospitality opportunities.

PERE Credit has tracked $2.2bn of New York office to residential loans in the first quarter of 2026.

Mike Droege and Jeff Kert outline the firm’s plan to invest in more than $10bn of newly originated, performing US non-agency mortgage loans.

The loan is the latest of a slew of financings the firm has made in New York multifamily this year.

Expected growth in private-label mortgages is expected to fuel the residential mortgage-backed securities market. 

Toll Brothers, DR Horton and Century Communities have made investments in the debt fund as AREC aims to raise $1bn in commitments.

Tenant demand for a decreasing amount of space is leading bank and non-bank lenders to be more willing to finance developments, redevelopments and refinancings.

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.

A sharp fall-off in new construction is reshaping the Sun Belt multifamily market, creating near-term opportunity for lenders and investors seeking development opportunities. 

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