residential

A lack of supply, not institutional ownership, is driving high home prices.

Fund managers have largely focused on developing purpose-built single-family properties in recent years rather than buying existing assets.  

The capital stack for Post Brothers’ planned conversion includes a record $465m C-PACE financing from NGC alongside Mavik’s $110m senior loan.

The debt will be used alongside an $88.4m C-PACE component to convert the vacant asset into a 30-story, 1,568-unit tower.

At PERE America Forum, optimism in US private credit grew on refinancing demand and rising interest in asset-based finance, though caution remains around Fed policy and housing uncertainty.

The firm lined up Hillwood as a lead investment partner en route to its $1bn target and a June 2026 final close.

The credit facility, provided by the firm’s Urban Investment Group, is comprised of agency, construction and bridge loans. 

A special use case is emerging for residential-focused bridge lenders.

The financing package is split between C-PACE construction financing and traditional construction financing. 

Commercial real estate private credit managers believe lower rates and declining construction costs will pave the way for housing development.