Term Sheet: PERE Credit’s global expansion; Ares’ $850 million debt fundraising; MonticelloAM’s skilled nursing bet

PERE Credit is expanding its mandate globally for the private real estate lending industry, starting June 1; Ares Management completed a first close for its first closed-end real estate debt vehicle, more than halfway toward its $1.5 billion target; MonticelloAM is doubling down on healthcare real estate with a $435 million financing to a skilled nursing portfolio; and more in today’s Term Sheet, exclusively for our valued subscribers.