Randy Plavajka
JPMorgan has originated a $500m senior loan to help build the mixed-use development One Beverly Hills.
CBRE IM and Hillwood will use the funding for Phase 1 of speedway conversion into a 6.6 million-square-foot industrial complex.
The New York-based manager is expected to close $300m in loans over the next 30 days as debt funding gaps and needs persist.
Freddie Mac provides $335m of funding alongside investments from CPP and Harbor Group.
Florida-based manager looks to elevate $750 million fund to capitalize on private lending opportunities.
The loan on One Market Plaza, a San Franciso office tower, was one of the largest CMBS loans slated to mature in 2024.
Private credit lenders and other alternative sources of capital are already stepping in to work with national and regional banks to restructure loans.
Michael Boxer, a managing director, says operators are coming to grips with higher rates and are more willing to transact.
The real estate manager took a minority stake in New Jersey-based infill industrial investment manager Faropoint at the end of 2023.
Indraneel Karlekar returns to the New York manager, where he previously headed research during his days with affiliate ING.